Universal Credit Cap Ends: 480,000 Families Gain £4,100 Average Annual Rise

The recent removal of the two-child benefit cap has increased financial support for approximately 480,000 families in the UK, with an average increase of £4,100 annually per family. Starting in May, the child element of universal credit will automatically increase for eligible parents, providing nearly £300 extra monthly for each of three children. Additionally, three million families will see an average universal credit increase of £120 this year. The flat-rate state pension is set to rise to £241.30 weekly, totaling £12,547.60 annually, reflecting a £574.60 increase for those who reached pension age after April 2016.