The Govt has confirmed that benefits will rise by 0.5% from 12 April except state pension and pension credit. Full details of the amounts are awaited. But a 0.5% rise means that benefits will go up weekly by an amount which would not buy a 2nd class stamp.
For example, Attendance Allowance/DLA/PIP top rate up 45p a week. Carer's Allowance up 30p a week. SSP up 46p a week. Child Benefit +10p for first child +5p for each other child. ALL RATES MY CALCS AND SUBJECT TO CONFIRMATION
New state pension will rise £4.40 a week to £179.60 (official) and basic state pension for older pensionrs will rise £3.35 to £137.60 a week (confirmed) that is a £42 a week (£2184 a year) difference. All other bit like SERPS etc to rise by just 0.5%.
Meanstested pension credit to rise by 1.9% to £177.10 a week up by £3.35 (single) and £270.30 up by £5.10 a week (couple) leaving a gap of £2.50 with single New State Pension. Fewer and fewer will qualify for it as this gap grows and more get full new state pension.
The growing gap redefines downwards where pensioner poverty begins. Now must be 66 and couple must BOTH be 66 to qualify.
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