State Pension payments are due to rise by 8.5 per cent and most benefits by 6.7 per cent in April, however, many people may not be aware that the Department for Work and Pensions (DWP) and HM Revenue and Customs (HMRC) will implement the annual uprating on two separate dates.
New HMRC payment rates for 2024/25 will start from April 6 while DWP rates will begin on April 8. Letters are sent out annually to all claimants ahead of the uprating letting them know how much they will receive over the new financial year.
It’s important to understand that the new payment rates will not be seen in full until after the payment cycle immediately following the uprating date has been completed.
This is because most payments, including State Pensions, Personal Independence Payment (PIP) and Attendance Allowance are made four weeks in arrears.
Read more on dailyrecord.co.uk
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