DWP benefits and pensions: March 2024 dates for benefits, Universal Credit and pensions

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

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

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 distant from the federal government’s goal of two per cent.

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

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

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

Benefits going out as regular

The regular benefits and pensions funds shall be going out principally as regular in March. These are:

However, in case your fee date falls on Good Friday (29 March), you must obtain your anticipated fee the day earlier than (28 March).

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

Cost of residing fee

Despite ongoing monetary pressures, the federal government has not introduced any plans to increase its price of residing fee 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 residing fee of £299 ought to be paid to you between February 6, 2024 and February 22, 2024. People receiving sure benefits or tax credit had been eligible for the price of residing fee. These embody: Universal Credit, Jobseeker’s Allowance, Employment Support Allowance, Income Support, Pension cCedit, Child Tax Credit, and Working Tax Credit.

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

If you consider you had been eligible for these funds however didn’t obtain them, you must contact the DWP.

Other assist obtainable as price of residing 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 weak households of their space. Councils are free to allocate the funds nevertheless they really feel is greatest.

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

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

Budgeting advance loans

The authorities affords a ‘budgeting advance loan’ for individuals on Universal Credit who face an emergency lack of cash. Prior to the finances, the compensation 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 obtainable relying in your circumstances.

However, these grants will sometimes require you to satisfy particular standards and solely be capable of provide restricted funds.

Charitable grants can be found for people who find themselves disabled or sick, carers, bereaved, unemployed, college students – and many extra. The charity Turn2us has a web-based device to look for grants which can be obtainable to you.

Energy supplier assist

Quite a lot of power suppliers provide assist for these fighting their power payments. These embody Scottish Power, EDF, E.ON and Octopus. It is value contacting your power 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 power 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 power 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 power worth cap is the utmost quantity power suppliers can cost you for every unit of power for those who’re on a regular variable tariff. That contains most households. It is expressed as an annual invoice for a mean house.

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

Although it’s a vital slide from the record-high charges of the final two years, the determine stays virtually £1,000 a yr above pre-pandemic ranges.

Are benefits and pensions going up in 2024?

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

In his autumn assertion, Jeremy Hunt that benefits are going to be elevated by the September charge of inflation of 6.7 per cent. He additionally introduced that state pensions shall 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 benefits cap will push extra individuals past its threshold, that means a real-terms lower for many.

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