Pensioner couples to miss out on £7,000 because of 'toy boy tax'

From 15 May, couples will only be able to claim pension credit when both are over the state pension age, a change that has been dubbed the "toy boy tax" by pension and employee benefits firm Quantum Advisory. Previously, a mixed-age couple could claim the benefits when the oldest of the pair reached state pension age, which is currently 65 for both men and women. Those already in receipt of the credits will not be affected, but new claimants after 15 May could lose out on up to £7,000 a year in benefits, the firm suggested. 'Sneaky' pension change could cost families £7,000 a year ...