Benefits

Weekly Benefit	2023-24	2022-23
New State Pension	£203.85	£185.15
Old State Pension	£156.20	£141.85
Statutory Sick Pay	£109.40	£99.35
Statutory Maternity Pay	£172.48	£156.81
Statutory Paternity Pay	£172.48	£156.81

Average weekly earnings must exceed £123.00 in order to qualify for Statutory Sick Pay,
Statutory Maternity Pay or Statutory Paternity Pay

THE END OF TAX CREDITS

Tax credits are ending and will be replaced by Universal Credit. For people living
in Northern Ireland from 16 October 2023, the Department for Communities will
start to contact people currently receiving tax credits, asking them to make a
claim for Universal Credit.

The amount of tax credits you get is usually based on your annual taxable income
and your family size. If you have a partner, your joint income is taken into account.
Unlike most other means-tested benefits, there is no limit on how much capital
or savings you can have when you claim tax credits.

Universal credits will guarantee similar levels of income but they are means tested
and any household with more than £16,000 in savings will be ineligible for universal
credit. Any person currently receiving tax credits and with more than £16,000 in the bank
will lose their tax credits entirely and get no money from universal credit.