Increase In Benefits

Benefits were increased by 6.7% as of April this year and this will make a positive difference to several million people who receive benefits and this includes those who are out of work and those in work and are claiming. The recent increase in benefits is a positive development as it provides crucial support to both individuals and families and has risen in line with the CPI rate of inflation.

The state pension has also risen, by 8.5% as a way of supporting pensioners in their retirement and as it is one of the largest increases, it means that pensioners on the full rate of the new State Pension can receive an additional £900 each year. The increase of last year was actually the highest ever rate and was 10.1%.

Universal Credit is claimed by around six million people within the UK who are either out of work or on a low income and this includes single people, couples and families. There are various additional elements which increase the amount paid, such as having children. It is the most common benefit or a combination of benefits which are claimed by working age individuals. The amount paid for child benefit has also increased.

You can view up to date benefit information on the government website which explains about all the different types of benefits and also advises how to claim. Remember that if you are disabled and also working, you may still be entitled to certain benefits relating to your disability so it is very important to see if you could be entitled to anything extra, especially as rates differ depending on circumstances and on the severity of your disability.

It is estimated that millions of people are missing out on what they are entitled to with tens of billions of pounds going unclaimed each year so if you are struggling with rising costs then a quick and easy way to see if you could be entitled to anything extra is to use one of the online benefit calculators.

However, it is important to note that Universal Credit payments start to be affected if you have savings of over £6000 and if you have over £16,000 then your entitlement will cease.

If you had recently had a benefit paid into your bank account then you may be wondering why it is the same amount as last month, if there has been a significant increase announced but as benefits are paid in arrears you may not see the difference until your next payment date.