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1 week ago | 
dailyrecord.co.uk | Linda Howard
The UK State Pension is worth up to £230.25 each week during the 2025/26 financial year. New research has found people on the UK State Pension are being left behind in the ongoing cost of living crisis as pensioners barely break even, despite an increase in entitlement. The research, conducted by pension advisors Almond Financial, looked at the current State Pension in comparison to the average cost of living in the UK.
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1 week ago | 
dailyrecord.co.uk | Linda Howard
Setting aside 10 minutes this weekend could boost your income before summer. The Department for Work and Pensions (DWP) confirmed earlier this week that there are no plans to issue any more cost of living payments in 2025. Between 2022 and 2024, the DWP issued a series of one-off payments to help people cope with the cost of living crisis as energy bills and inflation soared to record-breaking levels.
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1 week ago | 
dailyrecord.co.uk | Linda Howard
Pension Age Disability Payment has replaced all new claims for Attendance Allowance in Scotland. Pensioners in Scotland are being urged to contact a charity for help claiming a new disability benefit only available to people over 66 living north of the border. Pension Age Disability Payment (PADP) is administered and delivered by Social Security Scotland and replaces new claims for Attendance Allowance.
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1 week ago | 
dailyrecord.co.uk | Linda Howard
Pensions, mortgages, benefits and personal finances should all be checked before turning 66. The State Pension provides essential financial support for nearly 13 million older people across the country, including more than one million retirees living in Scotland.
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1 week ago | 
dailyrecord.co.uk | Linda Howard
The Department for Work and Pensions (DWP) has indicated that the planned reforms to Personal Independence Payment (PIP) next year will provide crucial financial support for two groups of claimants. Minister for Social Security and Disability Sir Stephen Timms, said PIP will focus on “those with the greatest needs, who are unable to complete activities at all, or who require more help from others to complete them”.
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1 week ago | 
dailyrecord.co.uk | Linda Howard
DWP also uses transaction details to make an ‘accurate assessment’ of a claimant’s current financial circumstances. The latest figures from the Department for Work and Pensions (DWP) show there are currently 7.5 million people across Great Britain, in or out of work, claiming Universal Credit. The Department recently clarified the need to look at bank statements and transaction details for people making a new claim for Universal Credit or those having their existing award reviewed.
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1 week ago | 
dailyrecord.co.uk | Linda Howard
The Carer’s Allowance earnings threshold is £196 per week. Liberal Democrat MP Sarah Gibson has urged the Department for Work and Pensions (DWP) if it has “made an assessment of the potential merits of writing off historical Carer’s Allowance overpayments in cases involving small or inadvertent breaches of the earnings limit”.
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1 week ago | 
dailyrecord.co.uk | Vicky Shaw |Linda Howard
People with savings are set for a further slump after the Bank of England cut the base rate to 4.25% on Thursday. The average homeowner on a tracker mortgage will see their monthly repayments fall by nearly £29, after the Bank of England cut the base rate from 4.5 per cent to 4.25 per cent, following a slowdown in inflation in recent months. UK Finance said homeowners on tracker deals will typically see their monthly repayments reduce by £28.97, based on balances outstanding.
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1 week ago | 
dailyrecord.co.uk | Linda Howard
Submitting an early Self Assessment return could result in a faster refund, if one is due. HM Revenue and Customs (HMRC has announced that a record breaking 299,419 Self Assessment tax returns were filed in the first week of the new financial year. People filling out Self Assessment forms can submit their tax return for the 2024/25 tax year between April 6 2025, which was the first day of the new tax year, and the deadline for online returns on January 31 2026.
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1 week ago | 
dailyrecord.co.uk | Linda Howard
The cost of sending children to school in the UK has ‘significantly increased’ since 2022, according to a new report. A new report from charity Child Poverty Action Group (CPAG) and the Centre for Research in Social Policy (CRSP) indicates that parents are paying hundreds of pounds more a year just to send their child to a state school.
