The UK government is trying to help households with different incomes or financial situations.
In April 2024, the Department of Wage and Pension announced that Universal Credit will increase by 6.7%.
Over 5.5 million people will benefit from this DWP Pensions scheme, with an extra £470 announced by the department.
The new payments are set to begin after April 8, 2024, with an expected increase by May or June.
Jeremy Hunt, the Chancellor, has just announced a big increase in payments. They'll go up by 8.5%, which is really positive news.
The weekly state pension rate is increasing to £221.20 from £203.85. This means the monthly amount will be £884.80, up from £902, and the yearly amount will be £11,502.
The highest state pension rate is now £28.40 (up by £1.80), the medium rate is £18.20 (up by £1.10), and the lowest rate is £9.10 (up by £0.55).
To know more about DWP Pensions & PIP Payments Raise, click on the link mentioned here..!