To help boost the State pension, in 2003 the Government introduced means-tested benefits to pensioners. There are two parts to pension credit. The Guarantee Credit is designed to ensure that pensioners aged over 60 receive a minimum amount of income. The Savings Credit is meant to act as a reward for those people aged over 65 that have saved for their retirement, yet still have a moderate income. Depending on their circumstances, pensioners can receive just one part, or both elements, of pension credit.

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