Benefits and pension triple lock: the 5 big money changes to know this April

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Jeremy Hunt poses with the red Budget box, 6 March 2024 To help you navigate the financial comings and goings UK households face this year, here’s your guide to the five biggest changes that could impact your money from April: Benefits, pensions and minimum wage are all going up Every year, benefits rise at least in line with inflation, usually taken from the rate of the previous September. The 2024/25 standard Universal Credit allowances will increase to: £311.68 per month for single people aged under 25 for single people aged under 25 £393.45 per month for single people aged 25 and over for single people aged 25 and over £489.23 per month for joint claimants both aged under 25 for joint claimants both aged under 25 £617.60 per month for joint claimants both aged 25 and over Also rising is the basic and new state pension, which will increase by 8.5 per cent in April. Minimum wage is also set to rise by 9.8 per cent in April, to a new rate of £11.44 for those aged 21 and over. Broadband, mobile and pay TV bills are going up This spring, pay TV, broadband and mobile prices will rise by up to 8.8 per cent, with most providers making the change from April 1.