MILLIONS of households on benefits and receiving state pension are set to get a payment boost next month.
The Chancellor Jeremy Hunt confirmed in the Spring Budget today that the uprating of benefits will go ahead in April.
PAMillions are set to get a pay boost next month[/caption]
Mr Hunt said that along with the energy price guarantee continuing to July and one-off cost of living payments, that the increase is “worth £94billion over this year and next – one of the largest support packages in Europe”.
He first revealed that payments will be going up in line with inflation in his Autumn Statement.
Benefits including Universal Credit and Child Benefit, will be increasing by last September’s inflation rate of 10.1%, as well as State Pension too.
The amount your benefits will rise depends on what you’re receiving.
Catch up with all the latest from the Spring Budget on The Sun’s live blog.
Jeremy Hunt has also confirmed that the Energy Price Guarantee will be extended to July.
Millions of households will save £160 on energy bills after the EPG that freezes the average bill at £2,500 will be extended to July.
It had been due to rise to £3,000 in April.
Plus, there are two major changes to Universal Credit rules which will see working parents benefit.
There are nine benefits that have to rise in line with the consumer price index (CPI) rate of inflation because it’s the law.
But millions on Universal Credit and other benefits will see their payments go up too.
It’ll come into effect from April and boost the payments for the average family on Universal Credit by £600 a year.
But the dates they will rise vary depending on the type of benefit and when you normally get paid too.
The Autumn Statement documents also revealed the benefit cap will be raised by 10.1% too – the first time since 2016.
It will be increased from £20,000 to £22,020 for families nationally and from £23,000 to £25,323 in Greater London.
The cap is a limit on the total amount of benefit you can get.
Benefits are already lagging a long way behind rocketing living costs, leaving many pockets squeezed.
Here’s the full list of payments getting a boost:
Personal independence payment (PIP)Disability living allowanceAttendance allowanceIncapacity benefitHousing benefitPension CreditEmployment support allowance Job seeker’s allowanceMaternity, paternity, adoption, and shared paternal payMaternity allowanceIncome supportWorking tax creditChild tax creditState pensionSevere disablement allowanceIndustrial injuries benefitCarer’s allowanceAdditional state pensionGuardian’s allowanceUniversal CreditChild Benefit
It’s always worth checking that you’re getting all the benefits you’re entitled to by using a free benefits checker.
For exactly how much your payments will go up by see our explainer.
And, to for the exact dates you’ll get the boost have a look at our story.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]