Benefit cap to affect some customers
The Government recently announced that the new benefit cap will be introduced from Monday 7 November 2016.
This means that anybody aged between 16 and 24 who is not entitled to Working Tax Credit (or is earning less than £430 Universal Credit a month after tax and National Insurance) will have their benefits capped at £20,000 a year.
The Department of Work and Pensions has identified customers that will be affected. These customers will either see a reduction in Housing Benefit or Universal Credit payments.
Futures is aware of the customers that will be affected and how much their income will change. We will be contacting these customers in the coming days and weeks.
You can check whether you will be affected and by how much by using the gov.uk Benefit Calculator.
If you think you may be affected and want to know what to do next, please contact our Money Advice Team by calling 0300 456 2531.