Overview

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

This guide is also available in Welsh (Cymraeg).

Guarantee Credit tops up your weekly income if it’s below £167.25 (for single people) or £255.25 (for couples).

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

You may not be eligible for Savings Credit if you reached State Pension age on or after 6 April 2016.

You do not pay tax on Pension Credit.

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

  1. Step 1 Check when you can retire

  2. and Check how much pension you could get

  3. Step 2 Increase your pension

    You might be able to increase the amount you get if you delay your pension.

    1. Find out about delaying your pension

    For advice about increasing your workplace or private pension, speak to a financial adviser.

    1. Find a financial adviser through Unbiased
  4. Step 3 Check what other financial support you could get

  5. Step 4 Decide when to retire