Pension Credit

1. Overview

Pension Credit is an income-related benefit made up of 2 parts - Guarantee Credit and Savings Credit.

Guarantee Credit tops up your weekly income if it’s below £148.35 (for single people) or £226.50 (for couples).

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

You may not be eligible for savings credit if you reach State Pension age on or after 6 April 2016.

You don’t pay tax on Pension Credit.

Use the Pension Credit calculator to work out how much you might get.

Print entire guide

Last updated: 12 January 2015