09 April 2024 , 02:24
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Individuals on a specific type of Department for Work and Pensions (DWP) benefits will receive an increase in their Universal Credit payments, with eligible recipients receiving up to £465 more, totalling a yearly handout of £7,411.20.
The end of Cost of Living payments, coupled with rising council tax, water, mobile and TV costs, has made it increasingly difficult for those on low incomes, including full-time workers who still claim benefits. However, there's good news for anyone on Universal Credit as from this week, as all beneficiaries will receive a cash boost to their DWP benefits in the new tax year.
Several benefits have been given an 'uplift' from April 8, resulting in increased amounts being deposited into bank accounts. wr received written confirmation from the DWP that the enhanced benefits payment commences from April 8, as per Leeds Live. The government has announced that the uplift in Universal Credit will average around £470 per family per month, ranging from at least £292.11 per month up to £617.60 depending on age and circumstances.
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Those eligible for the full amount of the standard allowances will receive £7,411.20, paid in 12 monthly instalments from April 8, 2024.
Date millions on Universal Credit and benefits will get a pay rise this year
The Secretary of State for Work and Pensions is obligated to review the level of benefits each year. Inflation-linked benefits and tax credits are set for a hefty 6.7% hike from April 2024, in line with the Consumer Prices Index (CPI) rate of inflation as of September 2023.
The government's move aims to ensure that the value of people's benefits keeps pace with inflation, allowing them to maintain their standard of living as costs rise. From April 8, 2024, for the new tax year, those on Universal Credit will see an uplift in their standard allowances.
The government has commented on the Universal Credit increase, stating: "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."
Beneficiaries can expect to pocket an additional maximum of £38.78 monthly, which translates to an extra £465.36 annually.