March 2024 dates for benefits, pensions and cost of living payments

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This month it was confirmed that the UK will officially enter recession at the end of 2023. The news comes shortly after figures were released showing inflation was stable at 4%, outweighing the possibility of further rises, but still far from the government’s 2% target. percent.

Against this backdrop of difficult economic conditions, the cost of living crisis continues. Bills, food, and rent all remain high as millions of people struggle to afford essentials.

Towards the end of last year, 73% of low-income households on Universal Credit experienced food insecurity, according to research by the Joseph Rowntree Foundation (JRF). One in six people reported turning off their refrigerator or freezer at some point to save money.

Below is an overview of the state’s financial assistance available to low-income households this March, and the expected dates for benefit recipients to receive their benefits.

Advantages of going out as usual

Regular benefit and pension payments will be made more or less as usual in March. these are:

However, if your payment date is Good Friday (March 29th), you must receive your scheduled payment the day before (March 28th).

For more information about how and when state benefits are paid, see below. Visit government websites.

payment of living expenses

Despite continuing fiscal pressures, the government has not announced plans to extend the Living Payment Scheme beyond February 2024.

Peter Matejic, chief analyst at JRF, said: “Government stipends have provided families with a short-term reprieve. Without them, they face an income safety net that cannot provide security and ever-increasing prices for necessities such as food and energy. Masu.”

If you are eligible, a final cost of living of £299 will need to be paid to you. From February 6, 2024 to February 22, 2024. People receiving certain benefits and tax credits were eligible for subsistence payments. These include Universal Credit, Jobseeker’s Allowance, Employment Support Allowance, Income Support, Pension Credit, Child Tax Credit and Work Tax Credit.

This payment follows several others made during 2023.

If you think you are entitled to these payments but have not received them, please contact DWP.

Other support available upon completion of payment of living expenses

Local government support

The Government’s Household Support Fund (HSF) ends on 31 March. Depending on your area, it may still take some time to apply.

HSF provides funding to all local councils to support vulnerable households in their area. The Council is free to allocate funds as it sees fit. For example, some offer cash grants, supermarket gift certificates, and utility assistance. You should visit your local authority’s website to find out what support is still available to you.

Once the HSF deadline ends, support may still be available as many councils have already rejected new applications. Some councils continue to provide discretionary support to needy households in their area.

To find out what support is available to you, the End Furniture Poverty charity offers the following services: Helpful assistance search tools.

Many local governments have asked the government to extend the HSF beyond the end of March, but no announcement has been made so far.

Local Government Association spokesperson Pete Marland said: “Now is not the time to reduce support. Many at-risk households are now in greater demand for support than when the fund was first introduced. and continue to face significant challenges in meeting essential living expenses.”

charity grants

If you are in financial need, you may be eligible for certain charitable grants. There are many grants available depending on your situation. However, these grants typically require you to meet certain criteria and can only provide limited funding.

Charitable grants are available to many people, including disabled and ill people, carers, bereaved families, the unemployed and students.charity Turn2us has an online tool to search for grants It may be available.

Energy provider support

Many energy supply companies offer assistance to people struggling to pay their utility bills. These include Scottish Power, EDF, E.ON and Octopus. It’s worth contacting your energy provider to find out if you qualify.

British Gas is also offering grants of up to £2,000 to the following businesses: Customers of any energy provider. You must meet certain criteria to qualify. Apply through the British Gas Energy Trust website.

Energy price ceiling: Will it rise or fall in 2024?

As of January 1st, Energy price cap set at £1928Cornwall Insight analysts predict this figure will fall to £1,660 in April, fall again to £1,590 in July and rise again to £1,639.97 in the final months of 2024. .

An energy price cap is the maximum amount that an energy provider can charge per unit of energy when using standard variable tariffs. This includes most households. This is expressed as the annual bill for the average home.

The recent price drop reflects a recent decline in wholesale energy costs, or the amount energy companies pay for electricity and gas before delivering it to homes. Although this is a significant reduction from the record high interest rates of the past two years, it is still nearly £1,000 a year above pre-pandemic levels.

Will benefits and pensions increase in 2024?

Benefits and national pensions are scheduled to increase from April 2024.

Jeremy Hunt said in his autumn statement that benefits would increase by September’s inflation rate of 6.7%. During the same period he announced that he would increase the national pension by 8.5%.

But the Child Poverty Action Group (CPAG) has warned that unless the benefit cap is increased, more people will fall over the threshold, meaning a real cut for many.

Have you been affected by rising inflation or have a story to share about your experience during the cost of living crisis? Email us: albert.toth@independent.co.uk