Cue the greatest hits of the year! Music’s biggest names are gathering at Crypto.com Arena in Los Angeles for the 65th annual Grammy Awards on CBS Sunday, February 5.
17.01.2023 - 08:15 / dailyrecord.co.uk
An estimated 19.2 million families and 39.8 million individuals across Great Britain currently in receipt of State Pension or benefits from the Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC) will see their payments go up by 10.1 per cent later this year.
Chancellor Jeremy Hunt confirmed in November that State Pension, disability and working age benefits will be uprated by 10.1 per cent from April in line with the rate of inflation in September, at a cost of £11 billion to the UK Government.
The uprating means that on average, a family on Universal Credit will benefit by around £600 this year. The benefit cap will also rise in line with inflation, this will see it increase from £23,000 to £25,323 for families in Greater London and from £20,000 to £22,020 for families nationally - lower caps for single households without children will rise from £15,410 to £16,967 in Greater London and from £13,400 to £14,753 nationally.
Inflation-linked DWP benefits, Tax Credit elements and benefits administered by HMRC will rise by 10.1 per cent from April 2023. The Basic and New State Pensions will also be uprated by 10.1 per cent, in line with the Triple Lock.
The DWP has published a full online guide to the increases for State Pensions, benefits and the increased benefit cap on the GOV.UK website here..
Below is a summary of the new weekly payment rates.
Weekly rates are shown, unless otherwise stated and have been rounded as per the UK Government policy.
Care Component
Mobility component
Daily Living Component
Mobility Component
Standard allowance
Couple
There are two Child Benefit rates in place.
The new weekly rate for Guardian's Allowance will be £20.40 - an increase of £1.85 on the current 2022/23 rate of £18.55.
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Cue the greatest hits of the year! Music’s biggest names are gathering at Crypto.com Arena in Los Angeles for the 65th annual Grammy Awards on CBS Sunday, February 5.
Hundreds of thousands of older Brits living abroad are going to miss out on the financial boost from the return of the State Pension triple lock, warns the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations.
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The UK Government recently said that it “remains committed” to completing the managed migration move from legacy benefits to Universal Credit within the planned timescale. Chancellor Jeremy Hunt announced in November 2022 that people on Employment and Support Allowance alone (ESA) will not be moved from the older IT system to Universal Credit until 2028/29.
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The UK Government has announced that it “remains committed” to completing the managed migration move from legacy benefits to Universal Credit within the planned timescale. Chancellor Jeremy Hunt announced in November that people on Employment and Support Allowance alone (ESA) will not be moved from the older IT system to Universal Credit until 2028/29.
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Hundreds of thousands of older Brits living abroad are going to miss out on the financial boost from the return of the State Pension triple lock, warns the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations.