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Paying for essentials like food, housing, and utilities has become increasingly challenging for low-income families in the UK due to the ongoing problem of rising living costs. From October 2022 to August 2023, inflation was as high as 11.1 percent, but it has since fallen to 2.2 percent annually. The only thing that has changed is that prices are rising more slowly, not that they have returned to where they were before. For this reason, households especially those dependent on public assistance continue to face severe financial challenges.
Prime Minister Keir Starmer’s new Labour government has pledged to address the root causes of the cost-of-living crisis despite the challenging economic climate. In addition, Chancellor Rachel Reeves has indicated that the Autumn Statement, which is scheduled for October 30, would include some difficult decisions to address the state of the economy.
Payment Schedule for PIP Benefits and Universal Credit in October 2024
Claimsants’ bank, building society, or credit union accounts will be instantly credited with payments for various benefits. If the payment date is set for a weekend or a bank holiday, the money will normally be transferred on the working day before. It is imperative to keep in mind, nevertheless, that child benefits and tax credits could have distinct schedules.| Benefit | Frequency of Payment |
|---|---|
| Attendance Allowance | Every four weeks |
| Carer’s Allowance | Every four weeks or once a week in advance |
| Child Benefit | every four weeks, or once a week for single parents. |
| Disability Living Allowance | Every 4 weeks |
| Employment and Support Allowance | Every 2 weeks |
| Income Support | Every 2 weeks |
| Jobseeker’s Allowance | Every 2 weeks |
| Maternity Allowance | every four weeks, or once a week for single parents. |
| Pension Credit | Every 4 weeks |
| Personal Independence Payment | Every 4 weeks |
| Tax Credits | Every 4 weeks or weekly |
| Universal Credit | Monthly |
Dates for State Pension Payments in October 2024
Every four weeks, the claimant receives a direct payment from the state into their bank, building society, or credit union account. The final two digits of the claimant’s National Insurance number determine the precise day of the week when the payment is made:- Monday from 00 to 19
- 20–39 on Tuesday
- Wednesday from 40 to 59
- Thursday from 60 to 79
- 80 through 99 on Friday
If you don’t receive the payment, what should you do?
If a benefit payment is not received when anticipated, claimants should examine their award notice and bank account. The DWP helpline, which is accessible on the government website, should be called for assistance if the payment date is correct but the funds have not come.What is the New Pension Amount?
- At the moment, the new weekly full basic state pension is £169.50. Men born on or after April 6, 1951, and women born on or after April 6, 1953, are the only individuals to whom the new state pension is applicable.
- A specific number of qualifying years of National Insurance contributions are needed to be eligible for the full basic state pension. These are as follows:
- 30 qualifying years are required for men born between 1945 and 1951.
- It takes 44 qualifying years for men born before 1945.
- 30 qualifying years are required for women born between 1950 and 1953.
- It takes 39 qualifying years for women born before 1950.
Breakdown of Key DWP Benefits and Updates
- State Pension: The full state pension for pensioners will now be paid at a rate of £210.00 per week. There will be a commensurate increase for those receiving the basic state pension.
- Pension Credit: This supplemental benefit for low-income retirees will increase to £207.50 per month for single people, providing further respite in the face of rising inflation.
- Disability Living Allowance (DLA): The highest rate of DLA, which is now £660.00 per month, has been revised for individuals with severe disabilities.
- Carer’s Allowance: A monthly payment of £80.20 is now available to people who provide more than 35 hours of care for another person.