From April, state pensioners will benefit from a 4.8% rise in Pension Credit rates, supplementing their existing state pension payments. The Pension Credit standard minimum guarantee will increase from £227.10 to £238 per week, amounting to an additional £10.90 weekly or up to £566.80 annually for individuals.
Couples will also see a significant boost, with the rate climbing from £346.60 to £363.25 per week. This translates to an extra £16.65 weekly and £865.80 annually. Labour Party Chancellor Rachel Reeves highlighted this increase, stating: “I am increasing the basic and new State Pension by 4.8%, an increase of £440 per year for the basic State Pension and an increase of £575 per year for the new State Pension in line with our commitment to the triple lock.”
Minister for Pensions Torsten Bell emphasized the government’s commitment to supporting pensioners facing financial difficulties. “Pension Credit is a simple way to provide those who need it most with extra assistance for bills or even a free TV licence,” he said. Bell encouraged eligible individuals to apply, noting, “This country’s pensioners deserve every penny they are entitled to.”
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To qualify for Pension Credit, applicants must reside in England, Scotland, or Wales and have reached the State Pension age, currently set at 66 for both men and women. This means individuals born before 1960 may be eligible.
Those who reached State Pension age before 6 April 2016—or couples where both partners did—might also qualify for Savings Credit. While Pension Credit eligibility does not impose a savings limit, having over £10,000 in savings can affect the amount received.
For mixed-age couples, where only one partner has reached State Pension age, Universal Credit must be claimed until both qualify. Afterward, they may be eligible to claim Pension Credit as a couple.