Exciting Update: Universal Credit Increase 2024 – Expected Rise in August and September 2024, Eligibility Details

The UK Government has announced an important update regarding Universal Credit payments, introducing a significant increase set to take effect in 2024. The increase aims to help families and individuals cope with rising living costs and inflation.

Here’s a detailed breakdown of the expected increases, eligibility criteria, and payment schedules for August and September 2024.

Understanding the Universal Credit Increase

The Universal Credit increase is part of the government’s response to inflation, ensuring that benefits keep pace with the rising cost of living. The increase is pegged at 6.7%, based on the Consumer Price Index (CPI) for September 2023. This adjustment will affect millions of claimants across the UK.

Key Figures:

• Single Under 25: Current payment of £292.11 will increase to £311.68 per month.
• Single 25 or Over: Current payment of £368.74 will increase to £393.45 per month.
• Joint Claimants Both Under 25: Current payment of £458.51 will increase to £489.23 per month.
• Joint Claimants One or Both 25 or Over: Current payment of £578.82 will increase to £617.60 per month.

These increases will help around 5.5 million families who are currently receiving Universal Credit, providing an average annual increase of £470, which translates to approximately £39 per month.

Payment Dates for August and September 2024

Universal Credit is paid monthly, and the exact date depends on the claimant’s initial assessment period. The payments for August and September 2024 will follow the regular monthly schedule. Here are some key points regarding the payment dates:

• Assessment Periods: Your Universal Credit assessment period is a month-long period that starts on the date you first claim Universal Credit. Payments are made seven days after the assessment period ends.
• August Payments: If your assessment period starts on the first of the month, your payment will be made on the eighth of the next month. For example, an assessment period from August 1 to August 31 will result in a payment on September 7.
• September Payments: Following the same logic, an assessment period from September 1 to September 30 will result in a payment on October 7.

Eligibility Criteria

To qualify for Universal Credit, you must meet several criteria:

1. Residency: You must be living in the UK.
2. Age: You must be aged 18 or over (there are exceptions for some 16 and 17-year-olds) and below State Pension age.
3. Income and Savings: Your household income and savings must be below certain thresholds. If you have more than £16,000 in savings, you are not eligible. Savings between £6,000 and £16,000 will affect how much you receive.
4. Employment Status: You can be employed, unemployed, or unable to work due to health conditions or caring responsibilities.

Additional Elements and Increases

Beyond the basic allowance, Universal Credit includes various elements to support individuals and families with specific needs. These elements will also see a 6.7% increase:

• Child Element:
  • First Child Born Before April 6, 2017: Increases from £315 to £333.33 per month.
  • First Child Born On or After April 6, 2017, and Subsequent Children: Increases from £269.58 to £287.92 per month.
  • Disabled Child Element: Lower rate increases from £146.31 to £156.11 per month; higher rate increases from £456.89 to £487.58 per month.
• Limited Capability for Work:
  • Limited Capability for Work: Increases from £146.31 to £156.11 per month.
  • Limited Capability for Work or Work-Related Activity: Increases from £390.06 to £416.19 per month.
• Carer Element: Increases from £185.86 to £198.31 per month.
• Work Allowances:
  • Higher Work Allowance (No Housing Amount): Increases from £631 to £673 per month.
  • Lower Work Allowance (With Housing Amount): Increases from £379 to £404 per month.
• Childcare Costs Element:
  • One Child: Increases from £950.92 to £1,014.63 per month.
  • Two or More Children: Increases from £1,630.15 to £1,739.37 per month.

Application Process

To apply for Universal Credit, you need to:

1. Create an Account: Go to the Universal Credit website and set up an online account.
2. Fill Out the Application: Provide accurate information about your personal, financial, and employment circumstances.
3. Submit Documents: Upload necessary documents to verify your identity, income, and expenses.
4. Attend an Interview: You may be required to attend an interview at your local Jobcentre Plus office.
5. Receive Payments: If approved, you will start receiving monthly payments based on your assessment period.

Staying Informed

To stay updated on the latest changes and payment schedules, it is essential to:

• Regularly Check the Official Government Website: For announcements and updates.
• Use the Universal Credit App: To manage your claim and check payment dates.
• Consult with Advisors: Contact your local Jobcentre Plus or use the helplines for guidance and support.

Conclusion

The Universal Credit increase of 6.7% starting in April 2024 is a significant step to help families and individuals manage the rising cost of living.

By understanding the eligibility criteria, payment schedules, and additional elements, beneficiaries can better plan and manage their finances. For detailed information and updates, always refer to the official government resources and consult with advisors as needed.