A pretty penny. The British government has revealed the total cost of executing Queen Elizabeth II’s state funeral.
06.05.2023 - 05:25 / dailyrecord.co.uk
Basic and New State Pension payments increased last month by 10.1 per cent for some 12.6 million older people across the country, including around one million living in Scotland. The first payments after the uprating on April 10 were a mix of the old and new rates, with the full uplift expected in scheduled payments due this month.
The uprating means that those on the full New State Pension will see payments increase to up to £203.85 each week and those on the Basic State Pension get payments of up to £156.20. It's important to be aware that the amount someone receives depends on the amount of National Insurance (NI) contributions they have made - you need at least 10 years' worth for any of the contributory benefit and around 35 for the full amount.
New analysis from Standard Life, part of Phoenix Group highlights that the increases will also take more older people closer to the tax-free Personal Tax Allowance limit of £12,570.
This is because someone on the full, New State Pension will receive £815.40 every four-week pay period, giving them an annual income of £10,600.20 - which leaves them just £1,969.80 of their annual Personal Tax Allowance of £12,570.
The freezing of the Personal Tax Allowance at £12,570 since 2021/2022 means that the State Pension payment has grown from 74 per cent of the allowance to 84 per cent for 2023/24, meaning pensioners will need just £1,969.80 of income before they start paying income tax.
Dean Butler, Managing Director for Customer at Standard Life, said: “Pensioners are set to see a healthy boost to their incomes as the State Pension amount passes £10,000 for many for the first time.
“However, given the substantial State Pension boost, it’s important to be aware of the implications this
A pretty penny. The British government has revealed the total cost of executing Queen Elizabeth II’s state funeral.
Thousands of families across Scotland with a disabled child or young person will receive a one-off payment later this year to help with energy bills later this year. Child Winter Heating Assistance is paid automatically once a year to those in receipt of disability benefits and will increase by 10.1 per cent to £235.70 for winter 2023-2024.
People aged over 66 have until the end of Friday, May 19 to qualify for the £301 cost of living payment if they make a new claim for Pension Credit which later turns out to be successful. The means-tested benefit is worth more than £3,500 each year on average and acts as a gateway to additional help for heating bills, housing costs and Council Tax discounts.
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The funeral and lying-in-state of Queen Elizabeth II in September 2022 cost the UK Government an estimated £161.7 million, according to figures published by the Treasury. Queen Elizabeth, who was Britain's longest reigning monarch for a staggering 70 years, passed away on 8 September, 2022, breaking hearts across the nation, and across the globe.
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The Department for Work and Pensions (DWP) is urging all pensioners on a low income to check whether they could be eligible for Pension Credit, a means-tested benefit worth over £3,500 each year on average. Applications made before Friday, May 19 which later turn out to be successful will also qualify for the £301 means-tested cost of living payment.
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Attendance Allowance is a benefit delivered by the Department for Work and Pensions (DWP) for people of State Pension age who need help with personal care or supervision because of an illness, disability or mental health condition. Following the annual benefits uprating in April, successful claimants will receive either £68.10 or £101.75 each week depending on the level of support they need, which is paid every four weeks and works out at £272.40 and £407.00 respectively.
The Department for Work and Pensions (DWP) recently shared details of a new ‘private beta trial’ for Attendance Allowance claimants. The service is currently only being offered to 60 people each week who start a new claim for the State Pension age disability benefit through certain channels.
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Millions of older people will receive a State Pension boost this year after weekly payments increased by 10.1 per cent in April as part of the annual benefits uprating. The latest figures from the Department for Work and Pensions (DWP) show there are now 12.6 million people across Great Britain receiving State Pension payments, including 992,052 living in Scotland.
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The latest figures from the Department for Work and Pensions (DWP) show that at the end of August 2022, more than 1.4 million people over State Pension age were receiving additional weekly financial support through Attendance Allowance. Following the annual uprating in April, the benefit is now worth either £68.10 or £101.75 each week.