Pension Credit is to increase from April 2025, helping 1.4million of the poorest pensioners, following the government announcement in the autumn budget. The Standard Minimum Guarantee for Pension Credit is one of the payments that will increase by 4.
1%, in line with the increase in Average Weekly Earnings in the year to May to July 2024. This also includes the basic and new State Pension rate and widows’ and widowers’ benefits in Industrial Death Benefit Other pension and benefit rates covered by the Department for Work and Pensions (DWP) will be increased by 1.7%, in line with the increase in consumer inflation (CPI) in the year to September 2024.
This includes Universal Credit and Personal Independence Payments (PIP), plus other benefits and statutory payments for working age people. It's part of what the Department for Work and Pensions (DWP) call the annual uprating, and it applies to all disability benefits and to Carer’s Allowance. Pension Credit gives people over State Pension age and on a low income extra money to help with living expenses.
It can also help with housing costs such as ground rent or service charges. But, up to 760,000 pensioner households who were entitled to receive Pension Credit did not claim it between April 2022 and March 2023, according to government estimates. Recommended reading: DWP Christmas bonus to be paid to people on these benefits Savings accounts: best and worst for savings interest Grandparents eat free at pubs across the country.