Many benefit rates have been frozen for the last 4 years. This has been the biggest single cut in Benefits.
From April 2020 this will change The general principle of increasing Benefits each year with inflation with be restored.
The government has said-
● 'The basic and new State Pensions will be increased by the Government’s ‘triple lock’ commitment, meaning that they will be up-rated in line with the highest of prices (CPI), earnings or 2.5%. Consequently, they will be uprated by 3.9% (the May-July Average Weekly Earnings figure).
● The Pension Credit Minimum Guarantee will also be increased by earnings in line with legislation. The Pension Credit Savings Credit maximum amount will be increased in line with CPI (1.7%).
● Benefits linked to the additional costs of disability, and for carers, are increased by the annual rise in prices (1.7%). A number of other elements – including Non-Dependent Deductions – will also be up-rated in line with prices.
● Working age benefits will be increased by CPI (1.7%) from April 2020. Those linked to child tax and working tax credits will be up-rated in line with those benefits.
● Universal Credit Work Allowances will be increased in line with CPI (1.7%) from April 2020.
Book now for our updated Introduction to Welfare Benefit 2020 course.