Tel: 01736 795753
This email address is being protected from spambots. You need JavaScript enabled to view it.

What is pensions credit?

Source: Other | | 01/03/2021

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

Guarantee Credit tops up your weekly income if it’s below £173.75 (for single people) or £265.20 (for couples). You may still be eligible if you have savings, a pension or your own home.

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.

What you'll get:

  Guarantee Credit per week Savings Credit per week
Single people Top up to £173.75 Up to £13.97
Couples Top up to £265.20 Up to £15.62

You might get more if you’re a carer, severely disabled, responsible for a child or young person, or have certain housing costs.

Use the Pension Credit calculator on the GOV.UK website to work out how much you might get.

If you get Guarantee Credit you’ll also qualify for other benefits such as Housing Benefit, Council Tax Reduction, Cold Weather Payments and help with the costs of NHS services. 



Search Archive


Latest News

The Mortgage Guarantee Scheme
21/04/2021 - More...
One of the measures announced at the Budget was the introduction of a new Mortgage Guarantee Scheme

Recovery Loan Scheme
21/04/2021 - More...
The new Recovery Loan Scheme was launched on 6 April 2021. The new scheme allows businesses of any

Keeping self-employed tax records
21/04/2021 - More...
If you are self-employed as a sole trader or as a partner in a business partnership, then you must

Search

Our Address

Greenwood Wilson
The Old School
The Stennack
St Ives
Cornwall
TR26 1QU

Contact Us

tel: 01736 795753
fax: 01736 798642
This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Mobile Apps

To download our APP search for Informanagement and enter the code Greenwood.

 

Newsletter

With our newsletter, you automatically receive our latest news by e-mail and get access to the archive including advanced search options!

» Sign up for the Newsletter
» Login