How Much Is Pension Credit A Week In 2024?
Estimated Reading Time: 7 minutes
This article was reviewed by Sara Chapin, Director of Finance at Lottie, on 26th November 2024, to ensure accurate and trustworthy information for care seekers. Sara Chapin has been a Certified Public Accountant with the National Association of State Boards of Accountancy since 2017. Next review due November 2025.
In 2024, Pension Credit tops up your weekly earnings to £201.05 if you’re single and your joint weekly earnings to £306.85 if you have a partner. Pension Credit is a benefit to help people with their living costs who are on a low income and have reached State Pension age.
Over 800,000 older adults could be missing out on Pension Credit - around £1.7 billion unclaimed in total - so knowing what this benefit is worth and whether you’re eligible is really important.
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In this article:
- How much is Pension Credit a week for 2024/2025?
- How much has Pension Credit increased in 2024?
- How much will Pension Credit rates increase in 2025?
- How is Pension Credit paid?
- Who is eligible for Pension Credit?
- How to apply for Pension Credit
- Does Pension Credit count towards the benefit cap?
- Does Pension Credit affect other benefits?
How Much Is Pension Credit a Week For 2024/2025?
Pension Credit comprises two elements:
- Guarantee Credit
- Savings Credit
The standard minimum guarantee of Pension Credit for 2024/2025 is £218.15 a week if you’re single and £332.95 a week if you have a partner. This is the amount your weekly income or joint weekly income will be topped up to.
Government figures show that the average weekly amount of Pension Credit people receive is £75 (or around £3,900 a year). How much Pension Credit you get depends on factors like your income, savings and whether you’re single or in a couple.
We’ve summarised these changes in the table below.
| 2024/2025 Pension Credit Rate | 2023/2024 Pension Credit Rate | Increase | |
|---|---|---|---|
| If you’re single | £218.15 | £201.05 | £17.10 |
| If you have a partner | £332.95 | £306.85 | £26.10 |
You could also be entitled to additional amounts if you have other responsibilities and/or costs. These include:
An extra £81.50 a week if you have a severe disability and claim a disability benefit such as Attendance Allowance
An extra £45.60 a week if you care for another adult and receive Carer’s Allowance
An extra £66.29 a week for each child or young person you’re responsible for. This increases to £76.79 a week if the first child was born before the 6th of April 2017
An extra £35.93 a week if you’re responsible for a child or young person who is disabled. This rises to £112.21 a week if they’re blind or receive the highest rate of the care component Disability Living Allowance or Child Disability Payment, or the enhanced daily living component of Personal Independence Payment or Adult Disability Payment
You could also be eligible for additional funding to cover housing costs, a Council Tax Reduction, Housing Benefit (if you rent the property you live in) or Support for Mortgage Interest (if you own the property you live in).
You can use the GOV.UK Pension Credit calculator to find out how much you could get.
You could be eligible to receive Pension Credit while living in a care home, and we’re here to help you find the right home for you or your loved one. You can request a free list of homes from our care experts, who will then share homes matching your budget, location and type of care needed. You can also search for a care home through our easy-to-use directory.
How Much Has Pension Credit Increased In 2024?
Like some other benefits, Pension Credit rates increased by 8.5% in April 2024.
As a result, Pension Credit rates increased by the following amounts:
- Single - £17.10
- Couples - £26.10
If you’re single and qualify for Pension Credit in 2024/2025, your income will be topped up to £218.15 a week, £945.32 a month and £11,343.80 a year. This is an increase of £17.10 a week, £74.10 a month and £889.20 a year. If you have a partner, your joint income will be topped up to £332.95 a week, £1,442.78 a month and £17,313.40 a year. This is an increase of £26.10 a week, £113.10 a month and £1,357.20 a year.
How Much Will Pension Credit Rates Increase In 2025?
Pension Credit rates have been confirmed to increase by a further 4.1% in April 2025. If you’re single, the weekly Pension Credit rate will increase to £227.10 (+£8.95). This works out at £984.10 a month and £11,809.20 a year. If you have a partner, this weekly rate will increase to £346.60 (+£13.65). This works out at £1,501.93 a month and £18,023.20 a year.
How Is Pension Credit Paid?
Pension Credit is usually paid every four weeks.
It’ll be paid directly into your bank, building society or Post Office account.
If you’re unable to open or manage a bank or building society account, it’ll instead be paid through the Payment Exception Service.
Who Is Eligible For Pension Credit?
To qualify for Pension Credit, you must have reached the State Pension age and live in England, Scotland or Wales.
You can check your State Pension age here.
If you have a partner, you’ll be eligible if you’ve both reached the State Pension age, or if one of you receives Housing Benefit for people above the State Pension age.
If your income (or joint income if you have a partner) is higher than the weekly top-up amounts, you could still qualify if you have a disability, you care for someone, you have savings or you have additional housing costs.
Income includes your State Pension, personal or workplace pension, earnings from employment and self-employment and the majority of social security benefits, such as Carer’s Allowance. However, several benefits aren’t counted as income, including Attendance Allowance, Personal Independence Payment, Disability Living Allowance and Housing Benefit.
If you have £10,000 or less in savings and investments, this won’t affect your Pension Credit. Every £500 you have above this amount will count as £1 of weekly income.
How To Apply For Pension Credit
You can apply for Pension Credit online through GOV.UK.
You can also claim Pension Credit over the phone by calling 0800 99 1234.
To apply by post, print out and fill in the Pension Credit claim form. You can also call the claim line number above and ask for a form to be sent to you.
This form then needs to be sent to:
The Pension Service 8 Post Handling Site B Wolverhampton WV99 1AN
When applying, you’ll need to provide:
- Your National Insurance number
- Your bank or building society details
- Records of your income, savings and investments
Does Pension Credit Count Towards the Benefit Cap?
The Benefit Cap is the maximum amount of money you can receive through benefit payments. It affects several means-tested benefits.
However, the Benefit Cap doesn’t apply to people who have reached the State Pension age, meaning that people who receive Pension Credit are exempt from it.
Does Pension Credit Affect Other Benefits?
The Guarantee Credit part of Pension Credit doesn’t count as income when working out your eligibility for other benefits.
If you receive the Guarantee Credit part of Pension Credit, you’ll also qualify for the maximum Housing Benefit. However, you will need to make a separate claim for this.
The £16,000 capital limit for Housing Benefit won’t apply if you receive the Guarantee Credit part of Pension Credit, but will apply if you only receive the Savings Credit part of Pension Credit.
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Frequently Asked Questions
Can I get Pension Credit if I get a full State Pension?
Pension Credit is separate from your State Pension, meaning you can claim both. When claiming Pension Credit, you must have reached the State Pension age.
Is everyone entitled to Pension Credit?
You’re entitled to Pension Credit if you’ve reached the State Pension age and your earnings are below a certain threshold. For example, if you’re single, Pension Credit tops up your weekly earnings to £218.15 a week. If you earn more than this, you might not be eligible for Pension Credit.
What proof do I need for Pension Credit?
When applying for Pension Credit, you’ll need to provide the following to prove your eligibility:
- Your National Insurance number
- Your bank or building society account details
- Weekly earnings, along with any savings and investments
- Housing costs, including rent or mortgage repayments
- Information about any other benefits you receive, including how much you get
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Written by our team of experts and designed to help families fund later life care in England.
