Pension Credits

What are Pension Credits?

The Pension Credit was introduced in2003 in a bid to lift the poorest retired people out of poverty. This is a means-tested benefit which means your income and savings are taken into consideration.

The Pension Credit is divided into two parts – Guaranteed Credit and Savings Credit. Guaranteed Credit is for those who have reached the minimum qualifying age, and it works by topping up your weekly income to £173.75 if you’re single and £265.20 if otherwise. These amounts are much higher for those who are disabled, have caring responsibilities or certain housing costs.Meanwhile, if you are aged 65 or over and live in Britain, you may be entitled to Savings Credit.

To qualify for the Savings Credit you (and your partner, if you have one)reached State Pension age before 6 April 2016. You can get the Savings Credit either on its own or with the Guaranteed Credit. Single people can get £13.97 a week, and those with a partner can get up to £15.62.

Bear in mind that changes to the state pension age are likely to impact the Pension Credits qualifying age – the qualifying age is increasing in line with women’s state pension age. However, you can still be eligible for Pension Credits if your partner has not reached the qualifying age, providing that you have. To apply for Pension Credits, call one of our advisers, or complete an application form.

Arrow up

Contact us

You can also request contact details from the Pension Tracing Service by phone or by post.

The Pension Tracing Service
Telephone: 0800 1223 170
From outside the UK: +44 (0) 1782 389134
Monday to Friday, 9:30 am to 5:00 pm

The Pension Tracing Service
The Lantern
High Street
EX34 9QB

Copyright 2020 by Pension Tracing Service ® ​

The Pension Tracing Service ® is a trading style of the Millennial Wealth Ltd. We are authorised and regulated by the Financial Conduct Authority. FCA number 914746. Unit 11Flag Business Exchange Peterborough Cambridgeshire PE1 5TX. The registered company number is 11557299​

This service is not affiliated with the Department of Work and Pensions or any government body. The Pension Tracing Service does not offer financial advice to our clients. However we can allocate you an Authorised and Regulated Pension Specialist.

See how we handle your data.