Pension credit

If you're aged 60 or above you may be entitled to Pension Credit.

Pension Credit is made up of two parts:

• the 'Guarantee Credit' element
• the 'Savings Credit' element (which may be payable from age 65)

To claim Pension Credit you need to be aged 60 or above. If you're aged 60 or above, or within four months of your 60th birthday, and living in Great Britain, you may be entitled to the 'Guarantee Credit' element (which guarantees a minimum income if you're on a low income) if either of the following applies to you:

• you're single and your weekly income is below £124.05
• you have a partner or civil partner and your joint weekly income is below £189.35

But you might get more Pension Credit if you have caring responsibilities, are severely disabled or have certain housing costs.

Savings Credit Element

If you are aged 65 or above you may be entitled to the Savings Credit Element. Savings Credit is extra money each week for people who have an income that is higher than the basic State Retirement Pension or have modest savings. You may get it by itself if your income is too high to get Guarantee Credit. Or you may get some Savings Credit paid on top of Guarantee Credit. If you are married or a civil partner - or live with someone as if you are - then only one of you has to be aged 65 or above.

If you or your partner are aged 65 or above you could be entitled to the 'Savings Credit' element if either of the following applies to you:

• you're single and your total weekly income from money you have coming in such as pensions, savings, earnings and investments is between £91.20 and £174 a week
• you have a partner and your joint weekly income from money you and your partner have coming in such as pensions, savings, earnings and investments is between £145.80 and £255 a week

The Savings Credit is a maximum:

• £19.71 a week if you're single
• £26.13 a week if you have a partner

What counts as income?

Income that's taken into account includes:

• State Pension
• occupational and private pensions
• most social security benefits like Carer's Allowance
• an 'assumed income' of £1 a week for every £500 (or part of £500) of 'capital' you have over £6,000, or over £10,000 if you live permanently in a care home (capital includes savings and investments, and property that's not your main home)
• earnings after tax and expenses from employment or self-employment, less half of any occupational or personal pension contribution you make
• Working Tax Credit

Income that's ignored includes:

• Attendance Allowance
• Christmas Bonus
• Exceptionally Severe Disablement Allowance
• War Widow's Supplementary Pension

How much do you get?

Age 60 and above - Guarantee Credit element:

• If you're single, you'll get the difference between £124.05 and your total weekly income if it's less than this
• If you live with a partner or civil partner, you'll get the difference between £189.35 and your joint total weekly income if it's less than this

But you may get more money if you have caring responsibilities, are severely disabled or have certain housing costs.

If you're getting Pension Credit you may also qualify for:

• Housing Benefit
• Council Tax Benefit
• Cold Weather Payment
• Funeral Payments
• Community Care Grant
• Budgeting Loans
• Crisis Loans
• Winter Fuel Payments
• Sure Start Maternity Grant
• Free school meals

To apply for Pension Credit call 0800 99 1234.