Effectively, the Department for Work and Pensions (DWP) Millions of people rely on Universal Credit. They will see significant changes to their financial support starting next month. Millions of Universal Benefit recipients will see an increase in their payments from the Department for Work and Pensions (DWP) from next month.
Prime Minister Jeremy Hunt issued an update during last autumn’s budget announcement. It was stated that Universal Credit and other benefits will increase by 6.7% compared to the September inflation rate.
The change, which comes into force on April 1, means 5.5 million households will pay an average of £470 more. This decision demonstrates the government’s commitment to supporting the vulnerable during this period of economic uncertainty.
| Benefit | Amount Increase |
| Universal Credit | 6.7% rise aligning with September’s inflation, benefiting 5.5 million households with an average of £470 additional support. |
| State Pension | The increase will be up to £900 for pensioners from April 1, following the triple lock mechanism. |
| National Living Wage | Increase from £10.42 to £11.44 an hour, extending eligibility to 21-year-olds, benefiting 2.7 million workers. |
Britain Approves £900 Pay Rise For Pensions.
Pensioners also benefited from the news that state pensions will rise to £900 next month. Before this, Chancellor Hunt had mentioned the three-fold measure announced last autumn to see the UK state pension increase by 8.5% from 1 April 2024.
This system adjusts pensions based on average income, inflation, and inflation, or a 2.5% increase (whichever is higher) to reduce poverty among the elderly. Since its implementation in 2011, the triple lockdown has reduced poverty among the elderly.
National Income Of Millions Of Workers Increased
Increased financial support is not limited to Universal Credit and pensions. Wages for many workers will also fall in April 2024, with the national wage rising from £10.42 to £11.44 an hour. The change not only increases hourly pay but also expands eligibility to 21-year-olds for the first time.
Approximately 2.7 million workers will benefit from the 2024 Residence Regulation. Chancellor Hunt emphasized that this increase is a step towards eliminating low wages in the country, pointing to the role that the National Living Wage has played in half of low-paid workers since 2010.
This fiscal reform reflects the wide scope of low wages in the country. Financial reforms that the UK Government has used to support all sections of the population through Universal Credit and pensions for the wider working class, making the economy safer. And justice.
Read Also – Carbon Tax Changes 2024: Changes In The CAIP And Carbon Tax In Canada And Payment Dates