Benefits news from today's mini-Budget
29 November 2011
The Chancellor has today delivered his Autumn Statement. The full document published by the Treasury can be downloaded here but a summary draft by political monitor DeHavilland includes the following:
- The state pension will rise by £5.30 to £175.45 next year.
- Pension credit will be up-rated by £5.35, which will be paid for by a rise in the threshold for the savings credit.The Government will up-rate working age benefits in line with the 5.2% September inflation figure, as well as up-rating the disability elements of tax credits alongside inflation.
- The child element in the tax credit will be increased, but other elements of working tax credit will be frozen.
- The basic state pension age will be increased from 66 to 67 years old by 2026. This will not affect anyone who is today within 14 years of receiving their pensions.
Have a look at our other news stories.