DWP benefit changes for 2024 that will affect your wallet

Benefit claimants will see a wide range of changes throughout 2024 that could affect their finances.

The Department for Work and Pensions (DWP) has issued some warnings already to benefit claimants on how the changes will affect them. This includes the introduction of tougher new rules that could see payments get slashed.

Other claimants may also be worse off despite a planned increase to benefit payments due to a cap freeze remaining in place. For a full breakdown on how your finances could change in the new year, read below.

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New Year's Day will be marked as a bank holiday which means those expecting benefit payments on January 2 may instead be paid earlier. Those claiming Universal Credit and tax credits will be paid on the earliest Friday before the new year (December 29).

The DWP will begin paying out the £299 cost of living payment for eligible households from February 6 to February 22. In order to receive the payment, you must have received a payment from a qualifying benefit between November 13 and December 12 or have been eligible for a payment.

The following benefits are eligible for the cost of living payment:

Universal Credit

Income-based Jobseeker's Allowance

Income-related Employment and Support Allowance

Income Support

Working Tax Credit

Child Tax Credit

Pension Credit

From April 1, certain benefits and tax credits will rise by 6.7 per cent in line with the Consumer Prices Index (CPI) rate of inflation in September, 2023. This was confirmed by Chancellor Jeremy Hunt who said: "Firstly, for those on the