Millions claiming universal credit could be set for bumper pay increase next April
Thousands of people claiming universal credit could be set for a large pay increase from next April if payments are increased in line with inflation.
The Department of Work and Pensions (DWP) will confirm in November exactly how much benefits will increase by, but it’s expected claimants will receive 6.7% increase to match September’s inflation figures.
People claiming the following benefits will all see their payments rise:
- Universal credit
- Tax credits
- Attendance allowance
- Carer’s allowance
- Disability living allowance
- Incapacity benefit
- Industrial injuries benefit
- Personal independence payment (PIP)
- Severe disability allowance
- State pension
How much will universal credit go up by?
Currently a person claiming single credit who’s under the age of 25 gets £292.11 a month - a 6.7% increase will see this payment rise by £19.57 to £311.68. Meanwhile, those under 25 who live with a partner will see their payments grow to £393.45 a month – up by £24.71.
Those over 25 would see their support increase by £24.71 to £393.45 and payments to anyone with a cohabiting partner will increase to £617.60 a month.
However, experts are warning that Jeremy Hunt might use a lower benchmark, such as looking at the rate of inflation for next year which’ll be lower, to make savings for the treasury.
Caroline Chell
Caroline has worked in financial communications for more than 10 years, writing content on subjects such as pensions, mortgages, loans and credit cards, as well as stockbroking and investment advice.
Related posts
benefits
04 Dec 2023
Find out if you’re entitled to a payment from the DWP to help towards bills this festive season
benefits
27 Nov 2023
A campaign group has described government plans to monitor the bank accounts of benefit claimants as "dangerous for everyone".
benefits
27 Nov 2023
Pensioners will start receiving payments of up to £600 in their bank accounts from today to help with winter bills
Housing
22 Nov 2023
Sebrina McCullough, head of external relations here at Money Wellness, has responded to today's autumn statement by saying there's more work to be done.