• 4 hours ago
Transcript
00:00I'm Alex Nelson, here to bring you up to speed on the latest on upcoming changes to Social Security Benefits in the UK.
00:07Starting in April 2025, millions of people across the country will see an increase in their Social Security Benefit payments.
00:14Social Security Benefits encompass a range of payments provided by the Government to support individuals and families in financial need,
00:21including Universal Credit, Personal Independence Payment, Child Benefit and the State Pension – all essential supports.
00:29But why the increase? Well, every year, benefits are adjusted based on the Consumer Price Index inflation rate recorded in the previous September.
00:38The inflation rate for September 2024 came in at 1.7%, meaning most benefits will increase by this amount come April.
00:46This was the lowest rate seen in three and a half years, but while it means only a modest boost,
00:51it's still an important step in providing financial relief, especially as people continue to cope with rising costs.
00:58While some experts have pointed out that the increase might not fully address the financial strain for low-income households,
01:04the boost will provide some welcome support.
01:07For example, if you're receiving Universal Credit, single claimants aged 25 and over will see an extra £6.69 per month,
01:15and joint claimants aged 25 and over will get an additional £10.50 per month.
01:20When it comes to Personal Independence Payments, the biggest rise is for those on the Enhanced Daily Living component, which will increase by £1.85.
01:28And for those on the New State Pension, thanks to the Government's triple lock, you'll see a rise of £9.05 a week,
01:35as the pension increases by 4.1% this year, pegged to wages.

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