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

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

However, some consultants have expressed considerations that the chancellor’s new measures unfairly profit increased earners. The Resolution Foundation financial assume tank who level out that these incomes £50,000 or extra will achieve 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 chances of one other rise – however nonetheless distant from the federal government’s goal of 2 per cent.

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

Research from the Joseph Rowntree Foundation (JRF) exhibits 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 economize.

Here is a quick overview of the state monetary help 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 traditional

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

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

For extra data on how and when state benefits are paid, please visit the government’s website.

Cost of dwelling fee

Despite ongoing monetary pressures, the federal government has not introduced any plans to increase its value of dwelling 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 value of dwelling 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 dwelling 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 imagine you had been eligible for these funds however didn’t obtain them, it is best to contact the DWP.

Other assist obtainable as value 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 help weak households of their space. Councils are free to allocate the funds nonetheless they really feel is finest.

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

To discover out what help is on the market to you, the End Furniture Poverty charity provide a helpful assistance finder tool.

Budgeting advance loans

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

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

Charitable grants

If you’re struggling financially, it’s possible you’ll be eligible for sure charitable grants. There are a variety of grants obtainable relying in your circumstances.

However, these grants will usually require you to fulfill 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 an online tool to search for grants which can be obtainable to you.

Energy supplier assist

A variety of power suppliers provide assist for these combating their power payments. These embody Scottish Power, EDF, E.ON and Octopus. It is value contacting your power supplier to search out out if you’re eligible.

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

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

The power value 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 value cap is the utmost quantity power suppliers can cost you for every unit of power if you happen to’re on a regular variable tariff. That consists of most households. It is expressed as an annual invoice for a mean dwelling.

The latest decline in costs is reflective of latest drops in wholesale power prices – the quantity power 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 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 lift the benefits cap will push extra individuals past its threshold, which 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 e-mail: albert.toth@impartial.co.uk