Pension Credit is a benefit for people who have reached State Pension age and have a low income. It is available in two forms: Guarantee Credit and Savings Credit. To qualify:
- You must have reached State Pension age.
- Your weekly income is low enough to qualify for Guarantee Credit.
- Savings Credit is only available if you reached State Pension age before 6 April 2016 or have a partner who did.
- If you have a partner, both usually must have reached State Pension age for a new claim.
- You can claim Pension Credit regardless of whether you are working or have paid National Insurance contributions.
- Savings and capital above £10,000 affect the Guarantee Credit calculation.
- It is available even if you have other income, savings, or own your home.
- Additional amounts may be available for disability, carers, housing costs, or children.
Couples qualify only if both partners have reached State Pension age since May 2019. If only one partner is of Pension Credit age, Universal Credit might be the alternative. Pension Credit also helps with other benefits like Housing Benefit, Council Tax Reduction, NHS costs, and a free TV license for those over 75. This benefit applies in England, Scotland, Wales, and Northern Ireland, with some additional residency requirements for those from the EU or EEA. In summary, Pension Credit is for people of State Pension age who have a low income, with specific rules based on age, income, savings, and partnership status.
