The UK Department for Work and Pensions (DWP) has announced significant changes affecting millions of people who receive child benefit payments in May 2024. These changes are due to two bank holidays occurring in May: one on Monday, May 6, and another on Monday, May 27. These bank holidays mean there will be alterations to the usual payment schedule for benefits and support from the DWP and HMRC.
According to information available to EKWEANAEDO ONLINE, the payment schedule adjustments mean that families who typically receive their child benefit on May 6 will instead receive their funds earlier, on Friday, May 3. Similarly, payments due on May 27 will be processed on Friday, May 24.
These changes will influence a substantial number of households across the UK. In August 2022, approximately 7.7 million people were claiming child benefit in the country, including around 350,000 people in Wales.
The adjustments will be applied automatically, ensuring that families receive their payments without any additional effort on their part.
However, while beneficiaries will receive their payments slightly earlier, they must be mindful of the longer gap between this payment and their next one. This necessitates careful financial planning to ensure funds last throughout the extended period.
EKWEANAEDO ONLINE reports that Child Benefit in the UK is available to those who are responsible for raising a child under 16, or under 20 if the child remains in approved education or training. Only one person can claim child benefit per child, but there is no limit to the number of children a person can claim for.
Eligible individuals receive monthly payments, National Insurance credits towards their state pension, and an NI number for their child without the need for a separate application.
In addition to these changes, child benefit rates increased in April 2024 as part of a broader 6.7% uplift to benefits implemented by the DWP.
The current weekly rates are as follows: £25.60 for the eldest or only child, and £16.95 for additional children. These rates are usually paid monthly.
The DWP is working to ensure that all affected families are informed of these changes well in advance, allowing them to adjust their financial planning to accommodate the altered payment schedule.
By this, families are encouraged to take note of the new payment dates and manage their finances accordingly to navigate the longer intervals between payments effectively.
