Pension Credit is an income-related benefit made up of two parts - Guarantee Credit and Savings Credit.
Guarantee Credit tops up your weekly income if its below £167.25 (for a single person) or £225.25 (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 have reached the State Pension age on or after the 6 April 2016.
- You do not pay tax on Pension Credit.
- Use the Pension Calculator to work out how much you might get.
Further information on Pension Credit can be found on GOV.UK's website.