24 January 2023

What Benefits Are You Entitled To?

Our Benefits Calculator can help low-income households find out what financial assistance they may be entitled to.

Making the most of your benefits

Benefits can be an invaluable resource when it comes to making ends meet, repaying loans and saving for retirement. Knowing which benefits you are eligible for and how to claim them can be a challenge, but it is worth exploring all of your options.

Here are some advice to help you get the most out of your benefits:

Boost your income

Additional benefits, such as Child Benefit, Disability Living Allowance or Carer's Allowance, are available to specific groups, such as low and middle-income families and disabled individuals, that can help cover the higher living costs they may face.

Lower your expense

Benefits can also assist low and middle-income families in reducing their expenses. For instance, Housing Benefit can assist with rent payments and Council Tax Reduction can lower council tax bills. Additionally, families can apply for assistance with school meals and clothing costs, and elderly individuals can receive support for utility bill payments. Furthermore, those struggling with mortgage payments may be eligible for Support for Mortgage Interest payments.

Plan for the future by saving

Benefits can strengthen your financial stability by allowing you to set aside some money each month. The Help to Save scheme can further aid in building your savings, by providing up to £1,200 over a period of 4 years, as a starting point for your savings fund.

Increase your retirement savings

Furthermore, you can use your benefits to enhance your retirement savings without significantly impacting your take-home income. Under Universal Credit, pension contributions are not considered in the take-home income calculation, which means that for every £100 in pension contributions, you receive an additional £63 in Universal Credit.