Guarantee Pension Credit
It is complicated to work out how much guarantee credit you can get so we suggest using the Turn2us Benefits Calculator which can calculate how much Pension Credit you may be entitled to.
The calculation involves comparing your weekly income (which includes your partner’s income if you live with a partner) to a weekly amount set by the Government:
The actual amount you get will vary for each person because you could also be entitled to extra amounts, depending on your circumstances. For example, there is an extra amount for carers or people with disabilities.
If your income is too high to get Guarantee Pension Credit, you may still get some Savings Pension Credit.
Savings Pension Credit
It is complicated to work out how much Savings Pension Credit you may get so we suggest using the Turn2us Benefits Calculator which can calculate how much you may be entitled to.
The amount you get depends on whether you have more or less weekly income than:
If your income is more than this, you may get some Savings Pension Credit. The most you can get is:
£13.07 for single people
£14.75 for couples
If you receive Pension Credit you also qualify for a Christmas Bonus each year. This is usually £10. You do not need to make a claim for the bonus it is paid automatically. It does not affect any other benefits you might get.
Changes to Savings Pension Credit from 6 April
The Savings Credit part of Pension Credit will close for people reaching State Pension age on or after 6 April 2016.
If you reach State Pension age before 6 April 2016 you can still get Savings Credit, depending on your circumstances, regardless of when you apply.
If you are a couple where one person reaches State Pension age before 6 April 2016 and the other on or after 6 April 2016, you can only get Savings Credit if one of you;
• was already getting it immediately before 6 April 2016 and
• has been entitled to it at all times since 6 April 2016
If you get Pension Credit you will be exempt from the Benefit Cap which limits the total amount in some benefits that working-age households can receive.
How will I be paid Pension Credit?
Pension Credit will be paid directly into your Bank, Building Society or Post Office account or by Simple Payment if you are unable to open or manage one of these or a similar account.
Pension Credit is usually paid every four weeks.
Pension Credit and other benefits
The Guarantee Pension Credit does not count as income when working out your entitlement to other benefits.
If you get Guarantee Pension Credit you will automatically qualify for maximum Housing Benefit, but you have to make a separate claim. The £16,000 capital limit for Housing Benefit will not apply if you are getting Guarantee Pension Credit (with or without Savings Credit)
The £16,000 capital limit for applying for Housing Benefit does apply if you only receive the Savings Credit.
Cold Weather Payment
If you receive Pension Credit you also qualify for a Cold Weather Payment. You do not need to make a claim as the payment will be made automatically for each qualifying period of cold weather. See our Cold Weather Payment guide for further details.