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£82.05] for a claimant who has no partner and [F1£131.20] 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
F1Reg. 7(2) sums substituted (11.4.2005) by The Social Security Benefits Up-rating Order 2005 (S.I. 2005/522), arts. 1(2)(c), 26(3)(b)
F2Reg. 7(4) added (6.10.2003) by The State Pension Credit (Consequential, Transitional and Miscellaneous Provisions) Regulations 2002 (S.I. 2002/3019), regs. 1(2)(b), 23(d)
Modifications etc. (not altering text)
C1Reg. 7(1)(a)(b)(c) sums confirmed (7.4.2003) by The Social Security Benefits Up-rating Order 2003 (S.I. 2003/526), arts. 1(2)(c), 25(3)(a)
C2Reg. 7(1)(a)(b)(c) sums maintained (12.4.2004) by The Social Security Benefits Up-rating Order 2004 (S.I. 2004/552), arts. 1(2)(c), 26(3)(a)
C3Reg. 7(1)(a)(b)(c) sums maintained (11.4.2005) by The Social Security Benefits Up-rating Order 2005 (S.I. 2005/522), arts. 1(2)(c), 26(3)(a)
C4Reg. 7(3) modified (7.4.2003) by The Social Security Benefits Up-rating Order 2003 (S.I. 2003/526), arts. 1(2)(c), 25(6), Sch. 16
C5Reg. 7(3) sum maintained (12.4.2004) by The Social Security Benefits Up-rating Order 2004 (S.I. 2004/552), arts. 1(2)(c), 26(6), Sch. 20
C6Reg. 7(3) sum maintained (11.4.2005) by The Social Security Benefits Up-rating Order 2005 (S.I. 2005/522), arts. 1(2)(c), 26(6), Sch. 20