The State Pension Credit Regulations (Northern Ireland) 2003

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) of the Act is 60 per cent.;

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

(2) The amount prescribed for the savings credit threshold is £77·45 for a claimant who has no partner and £123·80 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.

(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.