The Department for Work and Pensions (DWP) is providing an additional weekly payment of up to £17.96 to older state pensioners through a part of the Pension Credit called Savings Credit. This benefit is separate from the regular state pension payments and works alongside the Guarantee Credit component of Pension Credit.
Pension Credit is designed to top up the weekly income of those on a low income, ensuring single pensioners receive at least £238 a week and couples receive at least £363.25 jointly. Additional amounts may be available for those with other responsibilities or eligible costs, all managed under Guarantee Credit.
Savings Credit is available if you reached State Pension age before 6 April 2016 and have made retirement savings such as a personal or workplace pension. Eligible single pensioners can receive up to £17.96 weekly, while couples can receive up to £20.10 weekly, which totals up to £1,045 annually for couples.
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Importantly, you may qualify for Savings Credit even if you do not receive Guarantee Credit. To estimate your eligibility and potential payments, the DWP recommends using the Pension Credit calculator.
For personalized assistance or to check your eligibility, you can contact the Pension Service helpline at 0800 99 1234. If you have hearing or speech difficulties, you can use Relay UK by dialling 18001 before the helpline number. There is also a British Sign Language (BSL) video relay service available online, with instructions accessible through the DWP website for mobile or tablet users.
The helpline operates Monday to Friday from 8 am to 6 pm, excluding public holidays. Typically, all benefits, pensions, and allowances are paid directly into a bank or similar account.