DWP information: March 2024 dates for advantages, Universal Credit and pensions

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Jeremy Hunt gave his spring Budget this month, delivering a 2p National Insurance tax reduce, adjustments to Child Benefit, and a brand new “British Isa”.

However, some specialists have expressed issues that the chancellor’s new measures unfairly profit larger earners. The Resolution Foundation financial assume tank who level out that these incomes £50,000 or extra will acquire essentially the most from the NI reduce.

Earlier within the month, it was confirmed that the UK formally entered a recession on the finish of 2023. The information got here shortly after figures put inflation regular at 4 per cent, beating the percentages of one other rise – however nonetheless far-off from the federal government’s goal of two per cent.

Against this difficult financial backdrop, the price of dwelling disaster persists. Bills, meals costs and rents all stay stubbornly excessive as hundreds of thousands wrestle to afford the necessities.

Research from the Joseph Rowntree Foundation (JRF) reveals that in the direction of the tip of final 12 months, 73 per cent of low-income households on Universal Credit skilled meals insecurity. One in six reported turning off their fridge or freezer sooner or later to save cash.

Here is a quick overview of the state monetary assist accessible to low-income households this March and the dates on which advantages recipients can count on their cash to be paid out:

Benefits going out as common

The common advantages and pensions funds will likely be going out principally as regular in March. These are:

However, in case your cost date falls on Good Friday (29 March), it is best to obtain your anticipated cost the day earlier than (28 March).

For extra info on how and when state advantages are paid, please go to the federal government’s web site.

Cost of dwelling cost

Despite ongoing monetary pressures, the federal government has not introduced any plans to increase its price of dwelling cost scheme past Febuary 2024.

Peter Matejic, Chief Analyst on the JRF, mentioned: “The Government’s cost of living payments gave families a short-term reprieve. Without them, they face an income safety net that offers no safety and the ever-rising cost of essentials like food and energy.”

If eligible, the ultimate price of dwelling cost of £299 ought to be paid to you between February 6, 2024 and February 22, 2024. People receiving sure advantages or tax credit had been eligible for the price of dwelling cost. These embody: Universal Credit, Jobseeker’s Allowance, Employment Support Allowance, Income Support, Pension cCedit, Child Tax Credit, and Working Tax Credit.

This cost follows a number of others made all through 2023:

If you imagine you had been eligible for these funds however didn’t obtain them, it is best to contact the DWP.

Other assist accessible as price of dwelling funds finish

Local council help

In the spring Budget, Jeremy Hunt confirmed the Household Support Fund (HSF) can be prolonged for 6 months past the unique 31 March deadline.

The HSF is funding given to all native councils to assist susceptible households of their space. Councils are free to allocate the funds nonetheless they really feel is finest.

For occasion, some have offered money grants, grocery store vouchers, or vitality invoice help. You might want to go to your native council’s web site to seek out out what assist should be accessible.

To discover out what assist is on the market to you, the End Furniture Poverty charity provide a useful help finder software.

Budgeting advance loans

The authorities affords a ‘budgeting advance loan’ for folks on Universal Credit who face an emergency lack of cash. Prior to the price range, the reimbursement interval for these loans was 12 months. It has now been doubled to 2 years.

These loans are interest-free, and robotically deducted from Universal Credit funds. You can borrow an ‘advance’ of as much as:

Charitable grants

If you might be struggling financially, you might be eligible for sure charitable grants. There are a variety of grants accessible relying in your circumstances.

However, these grants will sometimes require you to satisfy particular standards and solely have the ability to provide restricted funds.

Charitable grants can be found for people who find themselves disabled or ailing, carers, bereaved, unemployed, college students – and many extra. The charity Turn2us has a web based software to go looking for grants which can be accessible to you.

Energy supplier assist

Various vitality suppliers provide assist for these battling their vitality payments. These embody Scottish Power, EDF, E.ON and Octopus. It is price contacting your vitality supplier to seek out out if you’re eligible.

British Gas additionally provide a grant of as much as £2,000 to prospects of any vitality supplier. You might want to meet particular standards to be eligible, and can apply on the British Gas Energy Trust web site.

Energy Price Cap: Will it go up or down in 2024?

The vitality worth cap is ready to drop to £1,690 from 1 April, down £238 from the January cap of £1,928.

Analysts on the trusted Cornwall Insight predict this determine will fall in July to £1,462.86, however rise once more barely in October to £1,590.

The vitality worth cap is the utmost quantity vitality suppliers can cost you for every unit of vitality should you’re on a regular variable tariff. That contains most households. It is expressed as an annual invoice for a median residence.

The latest decline in costs is reflective of latest drops in wholesale vitality prices – the quantity vitality companies pay for their electrical energy and fuel earlier than supplying it to households.

Although it’s a important slide from the record-high charges of the final two years, the determine stays nearly £1,000 a 12 months above pre-pandemic ranges.

Are advantages and pensions going up in 2024?

Benefits and state pension are set to extend in April 2024.

In his autumn assertion, Jeremy Hunt that advantages are going to be elevated by the September price of inflation of 6.7 per cent. He additionally introduced that state pensions will likely be elevated by 8.5 per cent across the similar time.

However, the Child Poverty Action Group (CPAG) has warned that failure to boost the advantages cap will push extra folks past its threshold, that means a real-terms reduce for many.

Have you been affected by the inflation improve or have a narrative to share about your expertise throughout the price of dwelling disaster? Get in contact through electronic mail: albert.toth@unbiased.co.uk