PIP (Personal independence payment) is increasing from today in a boost for Britons who live with a long-term health condition or disability. Benefits are going up 6.7 percent in line with inflation, including the working age benefit that supports people who have a condition that affects their daily life or mobility. PIP is made up […]
Savers have hit out at the new British Savings Bonds on offer from NS&I with one person branding the relatively low rates on offer as an “insult”. The savings provider shared the news of the product’s launch earlier this month on X, with rates at 4.15 percent, but critics were unimpressed by the new account. […]
Universal Credit payments are also increasing 6.7 percent from today in a boost for millions of Britons who claim the benefit from the Department for Work and Pension (DWP). New rates for the benefit were set out in Chancellor Jeremy Hunt‘s Spring Budget just over a month ago when he delivered his financial plan to […]
Jeremy Hunt’s “stealth taxes” will wipe out more than three-quarters of the increase to the state pension, the Liberal Democrats have said. Sir Ed Davey’s party has accused the Chancellor of taking a “bolt cutter to the triple lock” pledge to increase state pensions by whichever is highest of average earnings growth, CPI inflation or […]
Despite concerns about long-term affordability, Work and Pensions Secretary Mel Stride has defended the continuation of the triple lock for pensioners. The triple lock is a commitment to raise the state pension annually in line with wage growth, inflation or 2.5 percent, whichever is the highest. As a result, starting Monday, those receiving the state […]
The Department for Work and Pensions has issued a warning that thousands could be missing out on more than £500 a month. The DWP issued a warning that many could be missing out on Pension Credit, a non-taxable benefit for people past the State Pension age. The credit tops up pensioners’ weekly income to a […]
A state pensioner pleased to see her payments increase this April was shocked to be informed she would be paying tax for the first time. Frozen income tax rates mean Susan Bruce, 76, from Portsmouth, will be paying tax for the first time since she started claiming her state pension when she was 60. She […]
The devolution of disability benefit payments for children has been celebrated as a less “traumatic” experience for families, three years on from its introduction. In a significant shift, all disabled children and young people in Scotland receiving disability benefits will now be paid directly by Social Security Scotland. Moreover, recipients of the Child Disability Payment […]
More than £2.6billion has been stolen through investment fraud in the UK since the start of 2020, according to new research. The figures, sourced by the Pensions Management Institute (PMI), show that between January 2020 and December 2023, there have been 98,525 victims of such scams. During this period criminals managed to steal the equivalent […]
The state pension is the biggest single part of the social security system in the UK, however, new research indicates a lack of understanding of the benefit amongst Britons. Phoenix Group’s Patrick Thomson, head of research and policy at Phoenix Insights, said: “The state pension matters to all of us, it is an important intergeneration […]
