Elements of Pension Credit

Pension Credit has two elements:

• the Guarantee Credit tops up your weekly income if it is below £167.25 (single person), or £255.25 (couples); and

• the Savings Credit – an extra payment for those who have some savings or pension that brings their income to the required level (see below).

The Savings Credit part of Pension Credit closed for people reaching SPA on or after 6 April 2016. You may still get Savings Credit if you are part of a couple and one of you reached SPA before 6 April 2016, but most people who reached SPA on or after this date will not be eligible.