RETIREMENT
BENEFITS FOR THE ELDERLY
ELDERLY
RETIREMENT BENEFITS
There are many benefits and allowances that the elderly
can legitimately claim but, unfortunately, many people
are not aware of the financial help they are entitled
to. It seems to be the case that you have to know to ask
the question, rather than receiving the information automatically.
We have listed many benefits & allowances here and
hope to keep this area up-to-date with any changes in
allowances available. Please contact us if you are aware
of one that we've missed.
If you are an elderly taxpayer on a low income and your
taxable income falls below your personal allowance, you
may be able to claim a repayment if:
· you have had tax deducted at source from your
income (e.g. bank/building society interest etc), and
· part of your taxed income falls within the personal
allowance available to you for the tax year.
You could also be entitled to the age allowance and higher
married couples allowance, which increases your personal
allowances.
You may be entitled to:
A retirement pension
You must have reached state pension age (men: 65, women: 60) and have
paid enough NI contributions. A widowed person may be able to claim
on the record of a spouse or deceased spouse. The pension consists
of a basic amount and increases based on age, dependants, and spouse's
contributions. Pension income is taxable in the UK.
Income support
You must be aged 60 or over. If you are residing in a care or nursing
home, your savings cannot exceed £8,000. If you are not residing
in a care or nursing home, your savings cannot exceed £16,000.
Savings include: cash, bank accounts, national savings, premium bonds,
shares, and land and property (not including main home).
Housing benefit
You must be occupy the dwelling as your home, be liable to pay rent,
and be entitled to income support, the jobseeker's allowance, or have
a low income.
Council tax benefit
You must be liable to pay council tax on property in which you are
resident, have a low income, and not have savings exceeding £16,000.
For more information about any of these benefits,
refer to the Benefits
Agency Web site. Various leaflets
covering elderly issues are also available from the DSS.
The Inland Revenue also have a number of publications available covering
certain aspects of the tax regime and how it affects the elderly:
· Income
Tax and Pensioners (Leaflet IR121): a leaflet that does not cover
all the issues that a pensioner would want and those that are covered
lack depth. The figures are out of date.
· A Guide for People with Savings (Leaflet IR110): a very important
topic for the pensioner.
· Income Tax and Incapacity Benefit (Leaflet IR144): an out
of date leaflet which still explains the principles.
HEATING &
INSULATION GRANT
The Warm Front Team is a Government funded scheme managed
by Powergen Warm Front to help people in receipt of
income or disability related benefits to improve the
insulation and heating in their home.
If you own your home or privately rent, you could have
a range of insulation and heating improvements installed
in your home. If you are under 60, this could be up
to the value of £1,500 or £2,500 if you
are 60 or over. More...
ADDITIONAL
STATE PENSION - Depending on your individual
circumstances, you may be entitled to additional State
Pension. As its name suggests, additional State Pension
is paid in addition to the basic State Pension.
More...
ATTENDANCE
ALLOWANCE
This benefit is for people who become disabled after the
age of 65 years and there is no equivalent of the mobility
component for older disabled people. It is paid at 2 rates
and the claim process is the same as for DLA. Like DLA
it does not matter how much income or savings the claimant
has.
Getting AA will also help you to qualify for the Pension
Credit (guarantee credit), Housing Benefit to help pay
any rent you may have, and Council Tax Benefit (rate rebate
in Northern Ireland). If someone is looking after a person
who gets AA, they may also be able to get Carer's Allowance
(CA) as their carer. It is usually best to get this checked
out first, since an award of CA can, in some cases, lead
to the disabled person losing some of their means-tested
benefits, e.g. Income Support, Housing Benefit and Council
Tax Benefit. More...
BEREAVEMENT
ALLOWANCE (formerly Widows Pension)
A new system of bereavement benefits for men and women
was introduced in April 2001. The new system will not
affect women who were already getting benefits under the
previous scheme as long as they qualify under the rules.
More...
CARERS
ALLOWANCE
You must spend at least 35 hours a week caring, which
need not be every day, and the person you care for could
be a relative, friend or neighbour CA can be paid to more
than one person in a household, such as a couple caring
for each other. More...
WINTER
FUEL PAYMENT
If you have reached the qualifying age you may get a Winter
Fuel Payment to help pay for keeping warm in winter. For
winter 2011/12 this can be between �100 and �300 depending
on your situation. Find out if you are eligible for this
payment and how to apply. More...
VEHICLE
TAXATION
You may be entitled to a free tax disc if you're a disabled
person who gets the higher rate of the mobility component
of Disability Living Allowance, War Pensioners Mobility
Supplement or you have an invalid carriage.
More...
FREE
TV LICENCE
Anyone aged 75 or over is now entitled to a free TV Licence
for their principal residence, i.e. the place where they
live most of the time. More...
REPAIRS
& IMPROVEMENTS
Your local authority has general powers to improve living
conditions in its area and may provide assistance in:-
Repair, improvement and adaption of housing
Demolition and rebuilding of living accommodation
Acquiring new living accommodation. More...
CHRISTMAS
BONUS
The Christmas Bonus is a tax-free payment paid, before
Christmas, to customers who are getting one or more qualifying
benefits. More...
GENERAL
HELP AT HOME
HOME
RESPONSIBILITIES PROTECTION
DISABILITY
LIVING ALLOWANCE
Disability Living Allowance (DLA) is a tax-free benefit
for children and adults who need help with personal care
or have walking difficulties because they are physically
or mentally disabled. More...
OVER
80 PENSION
Over 80 Pension is a non-contributory pension for people
aged 80 or over with little or no State Pension. Aged
80 or over? If you are not getting a State Pension or
you are getting less than a full State Pension because
you have not paid enough National Insurance (NI) contributions
and currently living in England, Scotland or Wales.
More...
Click
here to apply for heating & insulation grant
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Pensions
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Pensions are
a complicated subject that needs professional help
to explain the options that are available at all
stages of the pension process, or indeed, to help
with the decision of whether pensions are the most
appropriate retirement income planning tool at all.
Buy-to-Let properties and ISA's, to give two examples,
present other options available to retirement planning.
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Provides information
and services for everyone whether they are planning
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Designed to be the first
port of call for state pensions and private pension
information on the web.
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Provides whole
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term care, including paying care fees and immediate
needs annuities.
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Unbiased, independent
and totally user friendly information on all aspects
of UK personal finance. Specializes in retirement
planning.
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The
Pensions Advisory Service
(OPAS)
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Information
and guidance on the whole spectrum of pensions.
They also help any member of the public who has
a problem, complaint or dispute with their occupational
or private pension arrangement.
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Many of the
reasons for which individuals find the need for
legal assistance are at best stressful and at worst
distressing. From buying or selling a house, accident
or injury claim, preparing a Will or arranging your
affairs, you may need a solicitor that will handle
your case quickly, efficiently and with understanding.
The elderly need advice that shows that their needs,
wishes and best interests are of paramount importance
at all times. However, this is obviously best obtained
at the lowest cost possible, in time as well as
money.
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The
Citizens Advice Bureau
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Provides up-to-date,
independent advice, around the clock.
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Solicitors
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Committed to
providing and promoting a comprehensive range of
high quality legal services for older people, their
family and carers.
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USEFUL LINKS
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Guide
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for care providers and those seeking care for the older person
Care
directions - The internet's unique guide to care and the rights
of the elderly.
Age
concern - Age Concern is the UK's
largest organisation working with and for the elderly.
Rukba
- The Royal United Kingdom Beneficent Association
is a charity helping elderly people stay independent, and provides
survival income for the elderly at home. More
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