Sets out the basis for the uprating of benefits and tax credits in the 2012-13 financial year.
2012 Benefit Uprating (199 KB , PDF)
This note sets out the main benefit and tax credit rates for the 2012-13 financial year.
From April 2012, most benefits will increase in line with CPI inflation (+5.2%).
The Government has introduced a ‘triple guarantee’ for uprating the basic state pension, which means that from 2012-13 onwards it will be increased by the highest of the increase in earnings, prices (as measured by the CPI) or 2.5%. For the purposes of the 2012-13 uprating, the 5.2% CPI inflation rate was the highest of these three benchmarks.
The Pension Credit standard minimum guarantee is required to be increased at least in line with earnings; the relevant earnings benchmark rose by 2.8%. However, the Government has decided to raise the standard minimum guarantee by 3.9% instead, paying for this by reducing payments on the Pension Credit Savings Credit.
The main elements of Working Tax Credit have been frozen in 2012-13, while Child Benefit remains frozen at its 2010-11 rates until April 2014.
2012 Benefit Uprating (199 KB , PDF)
Collective defined contribution (CDC) schemes are a new type of pension scheme in the UK. Sometimes also referred to as Collective Money Purchase Schemes, CDCs were introduced by the Pension Schemes Act 2021.
This briefing gives an overview of pensions taxation in the UK.
Why does the UK ban migrants from claiming benefits, and what are the arguments for and against this 'no recourse to public funds' policy?
