Thank you for contacting me about Pension Credit.
Pension Credit gives you extra money to help with your living costs if you are over State Pension age and on a low income. Pension Credit can also help with housing costs such as ground rent or service charges.
You might get extra help if you are a carer, severely disabled, or responsible for a child or young person. Pension Credit is separate from your State Pension.
Pension Credit tops up your weekly income to £182.60 if you are single, or your joint weekly income to £278.70 if you have a partner. Your income includes the State Pension, other pensions, earnings from employment and self-employment, and most social security benefits.
If your income is higher, you might still be eligible for Pension Credit if you have a disability, you care for someone, you have savings, or you have housing costs.
If you have more than £10,000 in savings, every £500 over £10,000 counts as £1 income per week.
I strongly welcome the Chancellor's announcement during the Autumn Statement 2022 that the standard minimum income guarantee in Pension Credit will increase by 10.1 per cent from April 2023, in line with inflation.
Thank you again for taking the time to contact me.