Pension credit

Pension credit is a new entitlement for people aged 60 or over. This could mean extra money for you every week. It guarantees everyone aged 60 and over an income of at least:

• £109.45 a week if you are single
• £167.05 a week if you have a partner

For the first time, people aged 65 and over will be rewarded for some of their savings and income they have for their retirement. In the past, those who had managed to save a little were no better off than those who had not saved at all.

Pension credit will change this by giving new money to those who have saved up to:

• £16.44 if you are single
• £21.51 a week if you have a partner

The person who applies for pension credit must be at least 60; it does not matter if their partner is under 60. 'Partner' means your husband or wife, or a person you live with as if you are married to them.

If you apply, you may be able to get up to 12 months back-payments if you could have been entitled earlier.