Pension Credit is a weekly benefit for older people to boost their income. It is based on how much money you have coming in.
There are two parts to Pension Credit, called Guarantee Credit and Savings Credit. You might get one or both parts.
Guarantee Credit tops up your weekly income to a minimum amount.
Savings Credit is a small top-up for people who have a modest amount of income or savings. It’s only available if you reached State Pension age before 6 April 2016.
The Citizens Advice website has full details about Pension Credit and its rules, and about other benefits for older people: www.citizensadvice.org.uk
To claim Pension Credit you must:
You can still be working, as long as your income isn’t too high. Unlike the State Pension, you don’t need a National Insurance record.
If you’re already getting Pension Credit, you’ll keep getting it unless your circumstances change.
You can’t usually make a new claim for Pension Credit. You can still make a new claim for Pension Credit if both of the following apply:
Otherwise you’ll usually need to claim Universal Credit instead, as long as you are eligible to claim it.
It’s a good idea to gather everything you can about your weekly income before applying. Common forms of income are:
You’ll also need to consider what savings and investments you have. This could include:
Any savings or investments over £10,000 will affect the amount of Pension Credit you get. You’ll be treated as having £1 per week of income for every £500 above £10,000.
If your weekly income is below £182.60 then Guarantee Credit will top you up to that amount.
If you’re claiming as a couple and your income is below £278.70 it will be topped up to that amount. If you’re claiming as a couple you’ll need the same information about your partner’s income.
Your income can be higher than £182.60 (single) or £278.70 (couple) if you qualify for extra amounts such as the severe disability or carer’s addition. Your income can also be higher if you’re paying a mortgage.
You might be able to get extra money if you get other benefits or you’re responsible for a child.
If you get other benefits, such as Carer’s Allowance, Disability Living Allowance, Personal Independence Payment or Attendance Allowance, your weekly Guarantee Credit amount can go over the minimum income threshold of £182.60.
If you’re eligible you can receive an extra amount for severe disability of £69.40 a week.
The extra amount if you’re a carer is £38.85. You’ll get this if you or your partner receive Carer’s Allowance or have claimed for it and meet its conditions.
If you’re responsible for a child you can get an extra amount for them, as long as you’re not already getting child tax credits. You might also be able to claim child benefit.
Savings Credit is the second part of Pension Credit. It’s only available if you reached State Pension age before 6 April 2016.
The amount you can get depends on whether you meet the ‘savings credit threshold’. You must have an income of at least £158.47 a week if you’re single or £251.70 a week if you’re claiming as a couple.
The income rules are different to Guarantee Credit. Don’t count any income you get from:
The most you can get from Savings Credit is £14.48 a week if you’re single or £16.20 if you’re claiming as a couple.