There are an estimated 19.2 million families and 39.8 million individuals across the UK currently in receipt of State Pension or benefits from the Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC) who will see their payments go up by 10.1% next year. The uprating will come into effect on April 10, 2023.
While that may seem a long way off, it offers a good opportunity to start planning your household budget early to find out how the increase could boost your finances, especially as the ongoing cost of living crisis shows no signs of slowing. Just remember that although the uprating comes into effect at the start of April, it won’t be seen in most payments until May as most tend to run four weeks behind.
Both DWP and HMRC have now published full details of the new payment rates, revised benefit cap and tax Credits thresholds on GOV.UK. We have summarised the changes below and listed them in alphabetical order to make it easier to find the payment you’re looking for.
