The Qualifying Income limit is an important criterion for the Society, and it is often the issue which determines whether we will or will not support someone.
The Society reviews and updates our Qualifying Income limit annually in June (once the standard uprating of Pensions and Social Security Benefits are known). While the Society makes this decision independently, we take into account a wide range of information when doing so including:
- The annual UK median single pensioner income after housing costs statistics - Pensioners' Incomes Series statistics - GOV.UK (www.gov.uk).
- The most up to date Joseph Rowntree Foundation Minimum Income Standards Minimum Income Calculator: Results.
- The Pension Credit
- Minimum rate for a single pensioner.
- Rate for single pensioner with SDP plus 50% of the standard rate of Attendance Allowance.
- The predicted CPI inflation rate for the coming September.
- The number of beneficiaries the Society has and can afford to support.