Money Wellness
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calendar icon04 Apr 2024

DWP to increase universal credit and state pension rates

From next week, the government is increasing two payments for the next 12 months for universal credit and the state pension.

  • On April 8th, universal credit will increase by 6.7%, giving people an average monthly boost of £39. This equates to £470 over the next financial year.
  • The state pension increase is due to inflation, and it’ll have an average increase of £310.

 Universal credit claims stop when you both reach state pension age.

 The government said: "In 2024/25, around 5.5 million Universal Credit families are forecast to benefit from uprating with an average annual gain for a family on universal credit estimated to be £470 (equivalent to an increase of around £39 per month), however gains will vary depending on the elements received by different family types."

 Are you eligible for universal credit?

 Make sure to check you’re getting all the benefits you’re entitled to.

Avatar of Lydia Bell-Jones

Lydia Bell-Jones

With a background in banking, Lydia has been writing professionally for over five years. She is passionate about helping people improve their personal finances and has a particular interest in the connection between money and mental health.

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