Nearly 20 million people receiving State Pension or benefits from the DWP will see payment rates increase for the 2024/25 financial year. State pensions will increase by 8.5% as per the Triple Lock policy, while most working age and disability benefits will go up by the September CPI inflation rate of 6.7%. Pension Credit will also see a significant rise.
Nearly 20 million people in receipt of the State Pension or benefits from the Department for Work and Pensions will see payment rates for the 2024/25 financial year increase from today . State pensions are increasing by 8.5 per cent, as per the Triple Lock policy, while most working age and disability benefits are going up by the September Consumer Price Index inflation rate figure of 6.7 per cent.
“This will make a meaningful difference to all those who rely on the State Pension and ensure we continue to provide a safety net for those who need it most while making work pay wherever possible.” Minister for Employment, Jo Churchill MP, said: “We are continuing to protect those in need through boosting benefits by 6.7 per cent and providing the largest cost of living support package in Europe.
A full list of the increases along with the Benefits Caps, earnings thresholds and Housing Benefits allowances, can be found on GOV.UK here. Statutory Adoption Pay Statutory Maternity Pay Statutory Paternity Pay Statutory Sick Pay Latest State Pension News Universal Credit SingleLimited Capability for Work and Work-Related ActivityFull details on Universal Credit deduction amounts based on household circumstances can be found on GOV.UK here.
State Pension Benefits Department For Work And Pensions Payment Rates Triple Lock Policy Working Age Benefits Disability Benefits CPI Inflation Rate Pension Credit Low-Income Pensioner Households
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