Pension Credit Savings Credit Calculator 2026
Calculate Pension Credit Savings Credit for those who reached State Pension age before 6 April 2016. Extra up to £17.01/week (single) or £19.04/week (couple).
Pension Credit — Savings Credit Calculator
Frequently Asked Questions
What is Pension Credit Savings Credit?
Savings Credit is an extra payment of up to £17.01/week (single) or £19.04/week (couple) for people who saved for their retirement. It's only available to those who reached State Pension age before 6 April 2016.
Who qualifies for Savings Credit?
You (or your partner) must have reached State Pension age before 6 April 2016 and have qualifying income above the Savings Credit threshold (£174.49/week single in 2025/26).
Is Savings Credit the same as Guarantee Credit?
No. Guarantee Credit tops up your income to a minimum level (£218.15/week single). Savings Credit rewards those who saved above a threshold. You can receive both.
How is Savings Credit calculated?
60% of qualifying income above the Savings Credit threshold, up to the maximum. Above the Guarantee Credit level, it's reduced at 40p for every £1 of income over the threshold.
What counts as qualifying income?
State pension, private/occupational pensions, annuities, some benefits (e.g. Carers Allowance), savings income, and income from part-time work. Capital above £10,000 is deemed to generate £1/week income per £500.
How do I apply for Pension Credit?
Call DWP on 0800 99 1234 (Monday–Friday, 8am–6pm) or apply online at gov.uk/pension-credit. You can backdate claims up to 3 months.
Does having savings disqualify you?
Capital up to £10,000 is ignored. Above £10,000, every £500 is treated as generating £1/week of income. There is no upper capital limit that completely disqualifies you.
What other benefits come with Pension Credit?
Receiving Pension Credit can entitle you to: free TV licence (if 75+), Council Tax Reduction, Housing Benefit, Cold Weather Payments, warm home discount, NHS dental/eye treatment, and free NHS prescriptions.
My partner hasn't reached pension age — can we still claim?
Mixed-age couples (one under State Pension age) cannot usually make a new claim for Pension Credit since May 2019. Existing claimants before that date are protected.
Can self-employed income affect my Pension Credit?
Yes — net profit from self-employment counts as qualifying income. Losses can reduce income but must be evidenced.
Does pension credit affect my will/inheritance?
Pension Credit doesn't affect your estate directly, but if you receive local authority care funded by council tax or housing benefit linked to Pension Credit, a 'deprivation of assets' rule applies to means-testing.
How often is Pension Credit reviewed?
Normally annually, but DWP can review at any time if your circumstances change. You must report changes in income, capital, or household composition to DWP.