What does MIG stand for?

0754646882 Delivering benefits in old age; the take up of the minimum income guarantee.

67 and most people in north Warwickshire are now getting more money than they did under the old minimum income guarantee.

But the majority of these people would then lose their entitlement to other state benefits such as Income Support, Housing Benefit and Minimum Income Guarantee.

According to new research, about 30,000 pensioners in the region who qualify for help under the Government's minimum income guarantee are missing out.

These included a minimum income guarantee, introduced in April 2002, which means a single pensioner is pounds 15-a-week better off than in 1997; winter fuel payments, started in winter 2000, which increased to pounds 200 the amount for each eligible home; a free TV licence, worth pounds 109 a year, for over 75-year-olds from April 2001, and `pension credits', due to be introduced this October as a replacement for the minimum income guarantee, to reward elderly people with savings.

You would qualify for the Government's Minimum Income Guarantee - now pounds 102.

Mr Field believes that at least half of future pensioners will be worse off buying a stakeholder, rather than spending all their savings now and relying on the minimum income guarantee on retirement.

People who currently receive the minimum income guarantee will see the name change to Pension Credit.