Pension Credit rates increase each April. Here are all the amounts, premiums, and thresholds for 2026/27.
For the wider overview of Pension Credit eligibility, savings and linked support, use the main Pension Credit hub.
Pension Credit Rates 2026/27 — Overview
| Component | Single Person | Couple |
|---|---|---|
| Guarantee Credit minimum | £218.15/week | £332.95/week |
| Maximum Savings Credit | £17.01/week | £19.04/week |
| Savings Credit threshold | £201.05/week | £306.98/week |
Key point: Guarantee Credit tops up your income to the minimum amount. If your total income is below these figures, you receive the difference.
Guarantee Credit Rates
Standard Minimum Guarantee
| Status | Weekly Amount | Annual Equivalent |
|---|---|---|
| Single person | £218.15 | £11,344 |
| Couple (joint claim) | £332.95 | £17,313 |
Additional Premiums
You may receive extra amounts on top of the standard Guarantee Credit:
| Premium | Weekly Amount | Who Qualifies |
|---|---|---|
| Severe disability (single) | £81.50 | Receiving Attendance Allowance or PIP daily living, no one gets Carer’s Allowance for you, and you live alone |
| Severe disability (couple, one qualifies) | £81.50 | One partner meets the conditions |
| Severe disability (couple, both qualify) | £163.00 | Both partners meet the conditions |
| Carer premium | £45.60 | Entitled to Carer’s Allowance (even if not paid due to overlapping benefits) |
| Disability premium (couple) | £81.50 | One partner receives a qualifying disability benefit |
Housing Costs
Pension Credit can include amounts towards:
| Housing Cost | What’s Included |
|---|---|
| Mortgage interest | Interest on loans for home purchase, repairs, or improvements |
| Service charges | Ground rent, certain maintenance costs |
| Leasehold charges | Buildings insurance, service charges if leasehold |
Note: Housing costs help with mortgage interest, not rent. For rent, claim Housing Benefit or Universal Credit housing element.
Savings Credit Rates
Savings Credit rewards people who made some provision for retirement beyond the basic State Pension.
| Component | Single | Couple |
|---|---|---|
| Maximum Savings Credit | £17.01/week | £19.04/week |
| Savings Credit threshold | £201.05/week | £306.98/week |
How Savings Credit Is Calculated
| Step | Calculation |
|---|---|
| 1 | Check if qualifying income exceeds the threshold |
| 2 | Calculate 60% of income above the threshold |
| 3 | Cap at maximum Savings Credit |
| 4 | Reduce by 40% of any income above the Guarantee Credit minimum |
Who Can Get Savings Credit
| Requirement | Details |
|---|---|
| Age | You (or partner) reached State Pension age before 6 April 2016 |
| Qualifying income | Above the Savings Credit threshold |
| Not receiving Guarantee Credit | Or receiving reduced Guarantee Credit |
Important: Savings Credit is closed to new claimants who reached State Pension age on or after 6 April 2016.
Capital and Savings Rules
| Capital Amount | Effect on Pension Credit |
|---|---|
| Under £10,000 | Ignored entirely |
| £10,000 – £16,000 | Assumed £1/week income for every £500 (or part) above £10,000 |
| Over £16,000 | Savings Credit only — may block claim. Guarantee Credit — no upper limit |
Examples
| Savings | Tariff Income Added |
|---|---|
| £10,500 | £1/week |
| £12,000 | £4/week |
| £14,000 | £8/week |
| £16,000 | £12/week |
Note: Unlike Universal Credit, there is no upper capital limit for Guarantee Credit. Even with significant savings, you may qualify if you have housing costs or high care needs.
Income That Counts
| Income Type | How It’s Treated |
|---|---|
| State Pension | Counted in full |
| Workplace pension | Counted in full |
| Other benefits (AA, PIP, DLA) | Ignored — but may give access to premiums |
| Earnings | £5/week ignored (single) or £10/week (couple), then counted |
| War Pension | £10/week ignored |
| Maintenance payments | Ignored |
Historical Pension Credit Rates
| Tax Year | Single Guarantee | Couple Guarantee | Increase |
|---|---|---|---|
| 2023/24 | £201.05 | £306.85 | 10.1% |
| 2024/25 | £218.15 | £332.95 | 8.5% |
| 2025/26 | £218.15 | £332.95 | Freeze |
| 2026/27 | £218.15 | £332.95 | — |
Note: Rates shown are approximate. Actual figures depend on government announcements each Autumn Statement.
Pension Credit vs State Pension
| Comparison | State Pension | Pension Credit |
|---|---|---|
| Weekly amount (single) | £230.25 (full new SP) | £218.15 (Guarantee minimum) |
| Based on | NI contributions | Financial need |
| Savings affect it? | No | Yes (tariff income) |
| Unlocks other benefits? | No | Yes — many passported benefits |
| Taxable? | Yes | No |
If your State Pension is £230.25 (the full new rate), you cannot receive Guarantee Credit as a single person — your income already exceeds the threshold.
However, you may still qualify if:
- You have housing costs (mortgage interest)
- You have disability or carer premiums
- You’re a couple with lower combined income
Benefits Unlocked by Pension Credit
Even a small amount of Pension Credit can unlock valuable passported benefits:
| Benefit | Value |
|---|---|
| Warm Home Discount | £150 off electricity bill |
| Winter Fuel Payment | £200–£300 (now means-tested for Pension Credit recipients) |
| Free TV licence (75+) | £169.50/year |
| Cold Weather Payments | £25 per cold week |
| Full Council Tax Reduction | Up to 100% council tax |
| Maximum Housing Benefit | Full rent covered |
| NHS prescriptions | Free |
| NHS dental treatment | Free (Band 1, 2, 3) |
| NHS sight tests and vouchers | Free eye tests + glasses vouchers |
| Water bill reduction | WaterSure or social tariffs |
Key point: These benefits can be worth £2,000–£3,000+ per year — often more than the Pension Credit payment itself.
How to Claim Pension Credit
| Method | Details |
|---|---|
| Phone | 0800 99 1234 (free, Mon–Fri 8am–6pm) |
| Online | gov.uk/pension-credit/how-to-claim |
| Post | Download claim form from GOV.UK |
What You Need
| Information | Details |
|---|---|
| National Insurance number | Yours and partner’s |
| Bank details | For payment |
| Income details | Pensions, benefits, earnings |
| Savings and investments | Bank statements, ISAs, bonds |
| Housing costs | Mortgage statement, service charges |
Backdating
Pension Credit can be backdated up to 3 months. You don’t need a reason — just claim and request backdating.
Pension Credit Calculator
To estimate your entitlement:
| Step | What to Do |
|---|---|
| 1 | List all weekly income (State Pension, other pensions, benefits) |
| 2 | Calculate tariff income from savings (£1/week per £500 above £10,000) |
| 3 | Add any earnings minus the disregard |
| 4 | Compare total to Guarantee Credit minimum |
| 5 | If below, the difference is your Pension Credit |
Example calculation (single person):
| Income | Amount |
|---|---|
| State Pension | £169.50/week |
| Workplace pension | £20.00/week |
| Savings (£12,000 = £4 tariff) | £4.00/week |
| Total income | £193.50/week |
| Guarantee Credit minimum | £218.15/week |
| Pension Credit payable | £24.65/week (£1,282/year) |
Use the Pension Credit calculator for a detailed estimate.
Common Questions
Can I get Pension Credit if I own my home?
Yes. Home ownership doesn’t affect eligibility. Pension Credit can even help with mortgage interest costs.
My partner is under State Pension age — can I claim?
Only if you were already receiving Pension Credit before 15 May 2019 as a mixed-age couple. New claims require both partners to be State Pension age, or the younger partner claims Universal Credit.
I get Attendance Allowance — does that affect Pension Credit?
Attendance Allowance isn’t counted as income and doesn’t reduce your Pension Credit. It may actually increase your Pension Credit by giving access to the severe disability premium (£81.50/week).
Summary
| 2026/27 Rate | Single | Couple |
|---|---|---|
| Guarantee Credit | £218.15/week | £332.95/week |
| Maximum Savings Credit | £17.01/week | £19.04/week |
| Severe disability premium | £81.50/week | £163.00/week (both) |
| Carer premium | £45.60/week | £45.60/week |
| Savings ignored | First £10,000 | First £10,000 |
| Tariff income | £1/week per £500 above £10,000 | Same |
Next step: Check if you qualify using the Pension Credit guide or call 0800 99 1234 to claim.