Universal Credit and State Pension to rise for millions, Jeremy Hunt confirms in autumn Statement

Jeremy Hunt has confirmed that the State Pension and benefits will rise by 10.1% for millions of people across the country.

The Chancellor made the announcement while delivering his autumn Statement on Thursday and confirmed that both payments will go up by September’s figure of inflation. A 10.1% rise, costing £11bn, will likely bring the New State Pension up by £18.70 a week, from £185.15 to £203.85. The rise will be worth £870 over the year.

Additionally, it will take the standard allowance in Universal Credit for a single person over 25 from £335 to £369 a month. The average family on the benefit will be better off by around £600, Mr Hunt said.

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And exceptionally the benefit cap of £23,000 in London or £20,000 outside will finally rise with inflation after years of freezes and campaigns, reports The Mirror. Pension Credit will also go up by 10.1%, the Chancellor announced.

Mr Hunt told the Commons: "Today I also commit to uprate such benefits by inflation with an increase of 10.1%, that is an expensive commitment costing £11bn. But it means 10 million working-age families will see a much-needed increase next year.

Jeremy Hunt delivering his Autumn Statement (PA)

"On average, a family on Universal Credit will benefit next year by around £600. And to increase the number of households who can benefit from this decision I will also increase the benefit cap with inflation next year."

He further added: "To support the poorest pensioners, I have decided to increase the pension credit by 10.1% which is worth up to £1,470 for a couple and £960 for a single pensioner in our most vulnerable households. But the cost of living crisis is harming all pensioners so because we have taken difficult decisions elsewhere in this statement, I can today announce that we will fulfil our pledge to the country to protect the pensions triple-lock."

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