Benefit claimants and pensioners have already got their normal payments a week early in readiness as the structure of the bank holiday in the month of August alters policies of the Department of Work and Pensions (DWP).
The Monday (25 August 2014) summer bank holiday will also germane to most benefit and state pension payments made on Monday 25 August 2014, and will be sent instead on the working day preceding it, i.e. Friday 22 August 2014.
This would be on all the significant benefits such as universal credit, the child benefit, Personal Independence Payments (PIP) and carer allowance among others.
It implies that anybody who expects to receive one of these to be paid will have his/her money deposited many days sooner than normal. According to the DWP, it has instituted such policy in order to avoid situations where the payment of the recipients is hindered by the closure of banks and government offices during the bank holiday weekend.
The number of individuals receiving some permutation of Dwp-administered benefits has grown to approximately 24 million across the country with the majority being affected by the change.
Minister for social security and disability Sir Stephen Timms said: “We know how much families rely on these payments, and by bringing them forward ahead of the bank holiday we’re ensuring no one has to worry about whether their support will be there when they need it most.
“This is especially important ahead of the new school year – no family should have to choose between buying school supplies and putting food on the table.”
In April, all universal credit, PIP, and carer allowance working -age benefits were raised by 1.7 percent. The home country pension in addition increased by 4.1 per cent, or 472 a year, in keeping with the triple lock, corresponding to 2024 wage growth.
This is ahead of an above-inflation rise in the incomes of all universal credit claimants next year after the controversial welfare law was passed, with a start of at least 2.3 per cent a year up to 2029.
But the health-related component of universal credit will also be reduced to be applied only on new claimants whereby the monthly rate will be reduced to £50 and also be frozen till 2029. This decrease of over 200 a month which amounts to 50 percent in the supplementary rate is encouraging for those who may be eligible to apply as early as possible.
