What’s new with Universal Credit News? Find out about credit times, who can get it, how much they can get, and if the amount could go up. It has been raised for 2024, but some people who get Universal Credit will get extra money straight in their bank accounts by the end of July 2024.
Universal Credit News
There was a big increase in benefits across the UK in April 2024, of 6.7%. This was done to help people deal with the rising cost of living. There is some misunderstanding and anger among the claimants about the timing, especially since the cost of living keeps going up. A lot of advocacy groups and nonprofits are worried that Universal Credit claimants need help faster and in a bigger way.
They say that the present system, which is meant to be adaptable and quick to change, leaves the most vulnerable and risky people struggling to pay for basic needs. Because of the ongoing problem, the Joseph Rowntree Foundation, Big Issue, and over 100 other groups are pushing for sure necessities to be added to Universal Credit. This guarantee makes sure that the receivers can at least pay for the things they need to live, giving them a safer and more stable source of money.
Universal Credit Dates 2024
Universal Credit is different from other benefits because it is calculated every month. What this means is that the benefits are determined and given every month. For example, the value period ran from March 26 to April 25, so the payment you might get on May 2 will be based on the old rate since the assessment period began before the new rate went into effect.
Many people who got the money are asking why the increase took so long to happen since they didn’t get it right away. Some people may start to notice the problem in their bank accounts in July, even though the changes were made right away for many. Scroll down to find out if you can get Universal Credit.
Universal Credit Eligibility
To receive the new rates of Universal Credit, you must meet the following criteria.
- It is mandatory that the applicant must be a UK resident.
- Individuals who struggle to meet their basic needs due to low income are entitled to Universal Credit.
- Age plays a significant role. The claimant must be at least 18 years old or below the State Pension Age, which is 66 years.
- You are eligible if you are unemployed, working, or unable to work due to severe disability or illness.
- Income and assets must be below £16,000 to qualify for the payment.
If you are unsure which benefit you might be receiving, you can use the benefits calculator tool on the Government of the UK’s official portal.
Universal Credit Amount 2024
The DWP has asked that the timing and handling of the payments be looked at again so that people who need them can get help more quickly. The claims should get their money with new rates that go up by £470 next month.
The problem is made worse by the DWP’s automatic deductions, which cause recipients to lose over £1 billion a year. This lowers the real amount of support they receive. People who work as advocates are still pushing for bigger and faster changes to make sure that all users can pay their bills.
Universal Credit Possible Increase News
As claimants get used to the new rates, more and more people are calling for more raises to the Universal Credit to make it more in line with the cost of living these days. The rate of inflation in September was used to figure out the 6.7% rise. But because the economy is still under a lot of stress, claims think that this inflation is not enough.
Even so, the change to Universal Credit does not cover the cost of living. Based on estimates from the Joseph Rowntree Foundation, the standard allowance for people aged 25 and up is at least £30 a week, which is £120 less a month than what is needed to meet basic costs.
In July 2024, people who need extra help can go to a number of places, such as charitable organizations, local councils, and community groups that offer extra help, like food banks and financial advice.
Everything that was said above is very important for filling in the gaps until the new benefit rates go into full force. It is important for recipients to know what benefits they are entitled to and to look for tools that can help them manage their money during this time of transition.