Articles - Benefit Cap starts in London


 The benefit cap started today in four London boroughs – as the move to set a clear limit on benefits takes effect.

 Claimants in Haringey, Enfield, Croydon and Bromley will see their benefit claims limited to £500 a week – or £26,000 a year – for couples and those with children and at £350 a week for single people.

 The benefit cap will be implemented nationally from 15 July with all appropriate households capped by the end of September.

 Secretary for Work and Pensions Iain Duncan Smith said:

 "The benefit cap is a key part of our reforms to restore fairness to the welfare state.

 "It will provide clear incentives for people to get into employment and will give taxpayers the assurance that high claims out are no longer possible.

 "We have also ensured vulnerable people are protected with clear exceptions for people claiming disability benefits.

 "But we have a very clear message: we will provide support to those who need it, but the days of outrageous claims giving people incomes far above those of hard working families are over."

 The cap will apply to combined income from the main out-of-work benefits ¬jobseeker’s Allowance, Income Support, and Employment Support Allowance - and other benefits such as Housing Benefit, Child Benefit and Child Tax Credit and Carer’s Allowance.

 The benefit cap will not affect a household if a member is entitled to Working Tax Credit, increasing the incentive to find work.

 All households which include somebody who is receiving Disability Living Allowance will be exempt as will those who receive a War Widow’s or Widower's Pension.

 The benefit cap will not be applied for 39 weeks to those who have been continuously in work for the previous 12 months.

Back to Index


Similar News to this Story

Mean Reversion in Equities
A common argument in favour of equity investments is that, even though they go down, they will bounce right back up again. Commentators may advise “
How to get the most out of your insurance consultant
More than half of UK life insurance companies (59%) will spend more on actuarial consultants in the next year. This is one of the key findings of our
Video of what a cyber attack looks like in the real world
Hackers and their scams live behind keyboards. Invisible and faceless. Hiscox show how it would look ff cyber crime happened in the physical world, th

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.