Pension Credit

Do you find that your income does not stretch far enough?

If you find that your state pension and private pension do not cover your monthly outgoings it may be that you are entitled to pension credit.  There are two types of pension credit; the guarantee credit and the savings credit.

Guarantee credit will top up your weekly income if it is below £151.20 a week for a single person and £230.85 for couples.  Savings credit is an extra payment for people who have worked and saved hard for their retirement.

You must remember that pension credit is only paid if you are of pensionable age.  This, at the moment, is very confusing as the eligibility dates are changing.  Here are the new claim dates for you:

Date of birth                             Eligibility begins
06/02/53 to 05/03/53        claim now!
06/03/53 to 05/04/53        6 March 2016
06/04/53 to 05/05/53        6 July 2016
06/05/53 to 05/06/53        6 November 2016
06/06/53 to 05/07/53        6 March 2017
06/07/53 to 05/08/53        6 July 2017

If you are not sure whether you are eligible visit the government’s calculator at

If you are a carer, severely disabled or having housing costs you may be eligible to receive more.

Eligibility is assessed for periods of time so you do not need to continually report changes to your pensions, savings or investments.  Pension credit is paid into a bank account on a weekly or monthly basis according to your preference.

For more advice, support and guidance on Pension Credit contact us – it’s what we do.

T: 01227 700 702



Published by Claire Godwin 8 August 2016