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The Old State Pension, consisting of the Basic State Pension (alongside the Graduated Retirement Benefit, the State Earnings-Related Pension Scheme, and the State Second Pension; collectively known as Additional State Pension), is a benefit payable to men born before 6 April 1951, and to women born before 6 April 1953.
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In November 2023, The Trussell Trust calculated that a single adult in the UK in 2023 needs at least £29,500 a year to have an acceptable standard of living, up from £25,000 in 2022. [ 8 ] On 14 November 2024, Rachel Reeves announced plans to merge pension funds into megafunds to unlock up to £80 billion for investment and boost the UK's ...
All working parents in the UK are currently entitled to 30 hours of free childcare for children aged 3 to 4. From April 1, this entitlement expanded to include 15 hours of free childcare for 2 ...
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An increase in the National Minimum Wage from £9.50 to £10.42 an hour for all those aged 23 or over from April 2023 [18] A 10.1% rise in state pension, means tested benefit and disability benefit payments, increasing them in line with inflation [18] The triple lock for calculating the basic state pension is retained [15]
As the UK's biggest public service department it administers the State Pension and a range of working age, disability and ill health benefits to around 20 million claimants and customers. [6] It is the second-largest governmental department in terms of employees, [ 1 ] and the second largest in terms of expenditure (£228 billion as of July ...
The amount paid is greater for those aged 80 years and older and is set so that a person living alone (or with people ineligible for the payment) is paid twice as much as a person in a household where more than one person receives the payment. [13] In the winter 2024–2025 the amount paid was £200 to £300 depending on circumstances. [12]