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The State Pension Credit Regulations 2002

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Savings Credit

7.—(1) The percentage prescribed for the purposes of determining—

(a)the maximum savings credit is 60 per cent.;

(b)“amount A” in section 3(4) is 60 per cent.;

(c)“amount B” in section 3(4) is 40 per cent.

(2) The amount prescribed for the savings credit threshold is [F1£115.30 ]for a claimant who has no partner and [F1£183.90 ]for a claimant who has a partner.

(3) The maximum savings credit shall be taken to be Nil in the case of—

(a)prisoners; and

(b)members of religious orders who are fully maintained by their order.

[F2(4) If a calculation made for the purposes of paragraph (1)(b) or (c) results in a fraction of a penny, that fraction shall, if it would be to the claimant’s advantage, be treated as a penny; otherwise it shall be disregarded.]

Textual Amendments

F1Sums in Reg. 7(2) substituted (coming into force in accordance with art. 1(2)(k) of the amending S.I.) by The Social Security Benefits Up-rating Order 2013 (S.I. 2013/574), arts. 1(2)(k), 24(1)(3)(b)

Modifications etc. (not altering text)

C5Reg. 7(1)(a) sum confirmed (for specified purposes and with effect in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2007 (S.I. 2007/688), arts. 1(2)(l), 26(3)(a)

C6Reg. 7(1)(a) sum confirmed (for specified purposes and with effect in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2008 (S.I. 2008/632), arts. 1(2)(l), 26(3)(a)

C7Reg. 7(1)(a)-(c) sum confirmed (with effect in accordance with art. 1(2)(k) (3)(a) 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2009 (S.I. 2009/497), arts. 1(2)(k), 26(3)(a)

C8Reg. 7(1)(a) sum confirmed (coming into force in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2010 (S.I. 2010/793), arts. 1(2)(l), 26(3)(a)

C9Reg. 7(1)(a) sum confirmed (coming into force in accordance with art. 1(2)(m) of the amending S.I.) by The Social Security Benefits Up-rating Order 2011 (S.I. 2011/821), arts. 1(2)(m), 27(3)(a)

C10Reg. 7(1)(a)(b)(c) sums confirmed (coming into force in accordance with art. 1(2)(m) of the amending S.I.) by The Social Security Benefits Up-rating Order 2012 (S.I. 2012/780), arts. 1(2)(m), 27(3)(a)

C11Reg. 7(1)(a) percentage confirmed (coming into force in accordance with art. 1(2)(k) of the amending S.I.) by The Social Security Benefits Up-rating Order 2013 (S.I. 2013/574), arts. 1(2)(k), 24(1)(3)(a)

C13Reg. 7(1)(b) sum confirmed (for specified purposes and with effect in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2007 (S.I. 2007/688), arts. 1(2)(l), 26(3)(a)

C14Reg. 7(1)(b) sum confirmed (for specified purposes and with effect in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2008 (S.I. 2008/632), arts. 1(2)(l), 26(3)(a)

C15Reg. 7(1)(b) sum confirmed (coming into force in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2010 (S.I. 2010/793), arts. 1(2)(l), 26(3)(a)

C16Reg. 7(1)(b) sum confirmed (coming into force in accordance with art. 1(2)(m) of the amending S.I.) by The Social Security Benefits Up-rating Order 2011 (S.I. 2011/821), arts. 1(2)(m), 27(3)(a)

C17Reg. 7(1)(b) percentage confirmed (coming into force in accordance with art. 1(2)(k) of the amending S.I.) by The Social Security Benefits Up-rating Order 2013 (S.I. 2013/574), arts. 1(2)(k), 24(1)(3)(a)

C19Reg. 7(1)(c) sum confirmed (for specified purposes and with effect in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2007 (S.I. 2007/688), arts. 1(2)(l), 26(3)(a)

C20Reg. 7(1)(c) sum confirmed (for specified purposes and with effect in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2008 (S.I. 2008/632), arts. 1(2)(l), 26(3)(a)

C21Reg. 7(1)(c) sum confirmed (coming into force in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2010 (S.I. 2010/793), arts. 1(2)(l), 26(3)(a)

C22Reg. 7(1)(c) sum confirmed (coming into force in accordance with art. 1(2)(m) of the amending S.I.) by The Social Security Benefits Up-rating Order 2011 (S.I. 2011/821), arts. 1(2)(m), 27(3)(a)

C23Reg. 7(1)(c) percentage confirmed (coming into force in accordance with art. 1(2)(k) of the amending S.I.) by The Social Security Benefits Up-rating Order 2013 (S.I. 2013/574), arts. 1(2)(k), 24(1)(3)(a)

C28Reg. 7(3) modified (for specified purposes and with effect in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2008 (S.I. 2008/632), arts. 1(2)(l), 26(6), Sch. 20

C29Reg. 7(3) modified (with effect in accordance with art. 1(2)(k) (3)(a) 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2009 (S.I. 2009/497), arts. 1(2)(k), 26(6), Sch. 17

C30Reg. 7(3) modified (coming into force in accordance with art. 1(2)(l) of the amending S.I.) by The Social Security Benefits Up-rating Order 2010 (S.I. 2010/793), arts. 1(2)(l), 26(6), Sch. 17

C31Reg. 7(3) sum specified (coming into force in accordance with art. 1(2)(m) of the amending S.I.) by The Social Security Benefits Up-rating Order 2011 (S.I. 2011/821), arts. 1(2)(m), 27(6), Sch. 17

C32Reg. 7(3) sum specified (coming into force in accordance with art. 1(2)(m) of the amending S.I.) by The Social Security Benefits Up-rating Order 2012 (S.I. 2012/780), arts. 1(2)(m), 27(6), Sch. 17

C33Reg. 7(3) sum specified (coming into force in accordance with art. 1(2)(k) of the amending S.I.) by The Social Security Benefits Up-rating Order 2013 (S.I. 2013/574), art. 1(2)(k), Sch. 13

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