In this article, you will get all the latest updates on Universal Credit: payment dates, eligibility, amounts, and possible increases. As of 2024, Universal Credit has seen significant changes, with some beneficiaries set to receive additional amounts directly into their bank accounts by the end of July 2024.
Universal Credit News
In April 2024, benefits across the UK saw a significant increase of 6.7%, aimed at helping claimants cope with the rising cost of living. This timing has caused some confusion and frustration among claimants, particularly as the cost of living continues to rise. Advocacy groups and charities have expressed concern about the need for more timely and substantial support for Universal Credit claimants.
These groups argue that while the current system is designed to be flexible and responsive, it often leaves the most vulnerable in risky situations where they struggle to afford essential items. In response to ongoing issues, organizations such as the Joseph Rowntree Foundation and Big Issue, supported by over 100 organizations, are advocating for guaranteed essentials to be included in Universal Credit. This guarantee would ensure recipients can at least afford necessities, providing a more secure and adequate level of financial support.
Universal Credit Dates 2024
Unlike other benefits, Universal Credit operates on a monthly assessment period. This means that benefits are calculated and paid on a rolling month-to-month basis. For example, if the assessment period began on March 26 and ended on April 25, the payment received on May 2 would be calculated at the previous rate, as the assessment period started before the new rate became effective.
The delay in disbursement has left many recipients wondering why the increase took so long to take effect. While changes were implemented promptly for many, some may not see the increase in their bank accounts until July. Scroll down to learn more about Universal Credit eligibility.
Universal Credit Eligibility
To receive the new rates of Universal Credit, applicants must meet the following criteria:
- Residency: Applicants must be UK residents.
- Income: Individuals who struggle to meet their basic needs due to low income are entitled to Universal Credit.
- Age: Applicants must be at least 18 years old and below the State Pension Age, which is 66 years.
- Employment Status: Eligibility extends to those who are unemployed, working, or unable to work due to severe disability or illness.
- Assets: Income and assets must be below £16,000 to qualify for payment.
If you are unsure which benefit you might be eligible for, you can use the benefits calculator tool on the Government of the UK’s official portal.
Universal Credit Amount 2024
The Department for Work and Pensions (DWP) has urged a reconsideration of the timing and administration of payments to ensure adjustments can be made more quickly for those in need. Claimants are expected to see a new rate increase of £470 in the upcoming month.
The DWP’s automatic deductions, which cost recipients over one billion annually, exacerbate the issue by reducing the actual amount of support received. Advocacy groups continue to push for more substantial and immediate adjustments to ensure that all recipients can adequately cover their living expenses.
Universal Credit Possible Increase News
As claimants adjust to the new rates, there is a growing call for further increases to Universal Credit to better align with recent living costs. The 6.7 percent increase was based on the inflation rate in September. However, with ongoing economic pressure, many believe this adjustment is insufficient.
Despite the increase, Universal Credit’s adjustment falls short of meeting the full cost of living. According to estimates from the Joseph Rowntree Foundation, the standard allowance for individuals aged 25 and over is about £30 per week, or £120 less per month than what is required to cover basic expenses.
Individuals seeking additional support in July 2024 can explore several avenues, such as charitable organizations, local councils, and community groups. These organizations provide supplemental aid, such as food banks and financial counseling.
Resources and Support
All the resources mentioned above play a crucial role in bridging the gap until the new benefit rates fully take effect. Recipients need to stay informed about their entitlements and seek out available resources to help manage their finances during this transitional period.