Thank you for contacting me about Pension Credit.
Pension Credit provides vital financial support to pensioners on a low income and I want all eligible pensioners to claim it. It provides eligible pensioners with payments to assist with their living costs if they are over State Pension Age. Pension Credit can also help with housing costs such as ground rent or service charges.
In April 2023, the standard minimum income guarantee in Pension Credit was increased by 10.1 per cent, in line with inflation. As a result, Pension Credit can top up a claimant's weekly income to £201.05 if they are single, or their joint weekly income to £306.85 if they have a partner.
When claimants apply for Pension Credit their income is calculated. If they have a partner, their income is calculated together. This includes the State Pension, other pensions, earnings from employment and self-employment, and most social security benefits. If the claimant has more than £10,000 in savings, every £500 over £10,000 counts as £1 income per week.
However, claimants on a higher income might still be eligible for Pension Credit if they have a disability, care for someone, have savings, or have housing costs.
Further information on Pension Credit eligibility can be found here: https://www.gov.uk/pension-credit/eligibility