Pension Credit

Department for Work and Pensions written question – answered on 12th December 2017.

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Photo of Baroness Altmann Baroness Altmann Conservative

To ask Her Majesty's Government what is was the value of Pension Credit in each year since it was introduced from 2010–11; and what is their estimate of what that value would be from April 2018 if Pension Credit had been increased by the triple lock which has applied to the Basic State Pension.

Photo of Baroness Buscombe Baroness Buscombe The Parliamentary Under-Secretary of State for Work and Pensions

Pension Credit was introduced in October 2003 and has a number of elements, including additional amounts for severe disability for example.

Table 1 below shows the value of the Pension Credit Standard Minimum Guarantee (PC SMG) for single claimants in weekly terms, between 2010/11 and 2017/18.

Table 1: Pension Credit Standard Minimum Guarantee for single claimants, 2010/11 to 2017/18

Year

Rate

2010/11

£132.60

2011/12

£137.35

2012/13

£142.70

2013/14

£145.40

2014/15

£148.35

2015/16

£151.20

2016/17

£155.60

2017/18

£159.35

In 2018/19, the PC SMG will be £163.00 per week for single claimants. It is estimated that, if from 2010/11 the PC SMG had been uprated in the same way that the basic State Pension was uprated; then the PC SMG for single claimants would be £171.20 per week in 2018/19.

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