UK GVT Pension Credit Technical Guide


On Sep. 26, UK GVT updated detailed guidance on pension credit.


  • UK GVT updated detailed technical guidance (PC10S) which covers what pension credit is, how it's worked out, the eligibility rules and the application process.
  • Also includes pensions flexibilities, income rules, income disregards, working out capital for pension credit, capital disregards, value of capital assets, housing costs.
  • Pension Credits
  • Tax-free income-related benefit for those who have reached the qualifying age and live in Great Britain; pension credit is paid for out of taxation.
  • Customer does not need to have paid national insurance contributions to be eligible.
  • There are two parts to pension credit: guarantee credit and savings credit (for customers who reached state pension age before Apr. 6, 2016).

Regulators UK GVT
Entity Types Corp; Pension
Reference Gd PC10S, PR, 9/26/2024
Functions Compliance; HR; Legal; Reporting
Countries United Kingdom
Category Central Government
State
Products Corporate; Pensions; Retirement Plan
Regions EMEA
Rule Type Guidance
Rule Date 9/26/2024
Effective Date 9/26/2024
Rule Id 227845
Linked to N/A
Reg. Last Update 9/26/2024
Report Section UK

Last substantive update on 10/01/2024