Pension Credit is a tax-free payment for people who have reached the qualifying age, on a low income and must live in Great Britain. The qualifying age is gradually going up to age 66 in line with the increase in State Pension age.

Pension Credit is separate from your State Pension, but if you're entitled, you can receive both.

It is made up of 2 different parts, Guarantee Credit and Savings Credit.

The Guarantee Credit works by topping up your weekly income to:

 - £201.05 if you're single 

 - £306.85 if you're a couple

These amounts may be more if you're a carer or severely disabled, having certain housing costs, such as mortgage interest payments.

To be eligible for Guarantee Credit, you must have reached the Pension Credit qualifying age.

You do not pay tax on Pension Credit.

Savings Credit is an extra payment for people who saved some money towards their retirement, for example a pension.

You can only start getting Savings Credit if you (and your partner, if you have one) reached State Pension age before 6 April 2016.

The Savings Credit can be up to:

 - £15.94 a week if you're single

 - £17.84a week if you're a couple

To qualify for Pension Credit:

 - you must live in England, Scotland or Wales

 - you or your partner must have reached State Pension age

The quickest way to apply for Pension Credit is by phone.

Changes to Pension Credit

From 15 May 2019, if you’re in a couple you’ll only be eligible to start getting Pension Credit if either:

 - you and your partner have both reached State Pension age

 - one of you is getting Housing Benefit for people over State Pension age

How your income is calculated

When you apply for Pension Credit, your income is worked out. This includes:

 - State Pension

 - other pensions

 - most social security benefits, for example Carer’s Allowance

 - savings, investments over £10,000 (for these £1 is counted for every £500 or part £500)

 - earnings

If you’re entitled to a private or workplace pension, the amount you’d expect to get is calculated as income from the date you were able to get it, if you had claimed it.

Please call our office on 07789758177 / 02082211165 and we will help you to find out if you are eligible to receive Pension Credit.