Pension Credit
The question
To ask the Secretary of State for Work and Pensions, when the threshold for pension credit was last reviewed; and when it is next set for review.
Answered by Emma Reynolds
The rates of Pension Credit were last reviewed in Autumn 2023 as part of the Secretary of State’s annual statutory review of State pension and benefit rates. Following that review, the Pension Credit standard minimum guarantee was increased by 8.5%, in line with the percentage increase in average earnings, to £218.15 a week for a single pensioner and £332.95 a week for a pensioner couple, with effect from 8 April 2024. Other Pension Credit amounts, including the maximum rate of Savings Credit and additional amounts for those with a severe disability or caring responsibilities, were increased by 6.7% in line with price inflation.
The next review will be undertaken following the publication in October by the Office of National Statistics of the earnings and prices indices used to inform the review, with the new rates taking effect from 7 April 2025.
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