The Department for Work and Pensions (DWP) has updated its Universal Credit system to provide additional financial support to those in need. The new rule reduces the cap on repayments from Universal Credit to 15 percent, down from 25 percent, benefiting approximately 1.2 million households by an average of £420 per year. These changes will be implemented alongside a 1.7 percent increase in various benefit payments from April 2024.
The DWP has issued an update about a boost for benefit recipients , with changes to Universal Credit to provide an extra £420 a year support for those struggling financially. The new rules will lower the cap on repayments from Universal Credit , reducing the percentage of your Universal Credit standard allowance that can be deducted.
"Reducing the cap to 15 percent will benefit 1.2 million households by £420 per annum on average." This will be a reduction from the existing 25 percent, with these adjustments set to come in from next April, coinciding with a 1.7 percent rise in various benefit payments, including Universal Credit.
Universal Credit Financial Support DWP Benefit Recipients Fair Repayment Rate
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