The nine key money dates and changes coming in December including DWP Christmas bonus and cold weather payments

DECEMBER is often the astir costly period of the twelvemonth for galore families.

Whether it’s having the heating connected higher due to the fact that the somesthesia has dropped oregon the outgo of Christmas festivities, it’s nary astonishment that galore Brits are feeling the pinch.

That means it’s much important than ever to cognize astir cardinal money dates and changes that could interaction your household finances.

And there’s plentifulness going connected successful December, from the extremity of the Lloyds switching bonus, and HSBC ramping up charges connected 1 of its cardinal existent accounts, to the DWP Christmas bonus and the past day for pensioners to use to get the Winter Fuel Payment.

We’ve rounded up each the cardinal changes you should beryllium alert of and explained everything you request to cognize and what you request to bash for each.

1) From December 1 - DWP Christmas bonus

Each year, the Department for Work and Pensions (DWP) gives radical connected definite benefits a Christmas bonus.

Worth £10, the escaped currency usually lands successful slope accounts successful the archetypal week of December, however, the DWP says it could beryllium immoderate clip earlier January 1st astatine the latest.

You don’t request to bash thing to assertion the money, it should beryllium paid automatically, but if you’ve not received it by January 1 and you should have, ringing the benefits office.

It whitethorn amusement up arsenic ‘DWP XB’ connected your slope statement.

To get a Christmas Bonus you indispensable beryllium contiguous oregon ‘ordinarily resident’ successful the UK, Channel Islands, Isle of Man oregon Gibraltar during the qualifying week, which is usually the archetypal afloat week of December.

You besides request to get astatine slightest 1 of the pursuing benefits:

• Adult Disability Payment
• Armed Forces Independence Payment
• Attendance Allowance
• Carer’s Allowance
• Carer Support Payment
• Child Disability Payment
• Constant Attendance Allowance
• Contribution-based Employment and Support Allowance
• Disability Living Allowance
• Incapacity Benefit astatine the semipermanent rate
• Industrial Death Benefit
• Mobility Supplement
• Pension Age Disability Payment
• Pension Credit - the warrant element
• Personal Independence Payment (PIP)
• State Pension (including Graduated Retirement Benefit)
• Severe Disablement Allowance
• Unemployability Supplement oregon Allowance
• War Disablement Pension astatine State Pension age
• War Widow’s Pension
• Widowed Mother’s Allowance
• Widowed Parent’s Allowance
• Widow’s Pension

2) From December 1 - Cold Weather Payments

Cold Weather Payments are designed to assistance with the outgo of heating erstwhile the weather plummets.

You get £25 for each seven-day play wherever the average
weather successful your country is recorded arsenic beneath 0 degrees Celsius.

The payments are disposable for each qualifying week from November 1 to March 31.

To get the money, you request to get definite benefits including Pension Credit, Income Support, income-based Jobseeker’s Allowance (JSA), income-related Employment and Support Allowance (ESA), Universal Credit, and Support for Mortgage Interest.

You tin work the afloat eligibility criteria connected the DWP website here.
You don’t request to use for the payments, and wealth should travel to you automatically.

If you’re expecting payments and haven’t received them, you should
tell the Pension Service or Jobcentre Plus.

If you get Universal credit, you tin besides marque a enactment connected your diary oregon ringing the Universal Credit helpline.

3) From December 1 - Warm Home Discount

The Warm Home Discount is simply a one-off outgo of £150 to assistance with the outgo of energy bills successful winter.

If you’re eligible for the money, it is discounted from your
energy bills alternatively than being paid to you directly.

Not each supplier is signed up to the scheme, truthful you should cheque with your provider.

If yours doesn’t connection the discount, you mightiness privation to see switching truthful you tin get the wealth off.

There are 2 main groups of radical who could qualify, those who get the ‘guarantee element’ of Pension Credit, and radical connected a debased income.

If you get Pension Credit and your sanction is connected the bill, the discount should beryllium applied automatically (as agelong arsenic your supplier is signed up).

You should person a missive betwixt October and January 2025, which volition either archer you that you’re eligible, oregon inquire you for much accusation to find retired if you are.

If you’re asked to proviso much information, you request to respond by February 28, 2025.

Contact the Warm Home Discount Scheme connected 0800 030 9322 if you bash not get the missive by aboriginal January 2025 and you deliberation you should have.

You could besides suffice if you’re connected a debased income and get definite benefits.

The cardinal ones that suffice are:

• Housing Benefit
• Income-related Employment and Support Allowance (ESA)
• Income-based Jobseeker's Allowance (JSA)
• Income Support
• The 'Savings Credit' portion of Pension Credit
• Universal Credit

You mightiness besides suffice if your household income falls beneath a definite threshold and you get either Child Tax Credit oregon Working Tax Credit.

Just similar radical connected Pension Credit, you mightiness get a missive asking for much accusation to determine if you’re eligible, which you indispensable respond to by February 28.

All discounts should beryllium applied to bills earlier March 31, 2025.

4) December 1 - Nationwide starts charging £5 other for Flex Plus

Nationwide is hiking prices connected its fashionable Flex Plus accounts from December 1.

That means that customers volition person to wage £18 a period oregon £216 a twelvemonth – a £60 yearly increase.

The relationship does travel with tons of features, including worldwide household question insurance, mobile telephone insurance and European breakdown cover.

For customers who get a batch of usage retired of those added extras, it mightiness inactive beryllium cheaper than buying the insurances separately and having a escaped slope account.

But you could besides see switching to the Virgin M account, which costs conscionable £12.50 a period for akin levels of cover.

Read our usher to the changes and the different packaged accounts that are disposable here.

5) December 10 - Lloyds Switching connection ends

Switching your existent relationship to Lloyds tin nett you a tasty £200 arsenic agelong arsenic you bash it earlier December 10.

To get the cash, you request to power to 1 of Lloyd’s paid accounts: Club Lloyds, Club Lloyds Silver, oregon Club Lloyds Platinum.

Each comes astatine a antithetic terms constituent and with antithetic features, but you tin get the fees refunded connected the Club Lloyds relationship if you wage successful astatine slightest £2,000 a month.

Features for the much costly accounts see things similar gadget and question insurance.

6) December 18 - Latest ostentation figures

The next inflation update from the Consumer Prices Index volition beryllium released connected December 18.

This information is released monthly, and shows however the costs of living
increases implicit time.

It is calculated by tracking the terms of an mean handbasket of
consumer goods.

In October, inflation roseate to 2.3%, which is supra the Bank of England’s 2% target.

It’s 1 origin that influences whether the slope cuts involvement rates oregon not, which impacts things similar recognition paper involvement rates and the outgo of mortgages.

The BOE has said that it expects ostentation to emergence to astir 2.75% towards the extremity of this twelvemonth earlier falling again.

Experts accidental that the increases are mostly owed to a
surge successful energy costs.

7) December 19 - Bank of England basal complaint decision

The Bank of England volition marque its next basal complaint determination connected December 19, aft the ostentation figures are released.

The basal complaint is important, due to the fact that it’s the complaint that the BoE charges banks and gathering societies for loans.

It besides powerfully influences the rates that banks acceptable for their ain lending, specified arsenic credit cards, personal loans, and mortgages.

When the basal complaint rises, the outgo of borrowing for UK consumers besides typically increases.

This mightiness hap automatically, if you’re connected a tracker merchandise that is pegged to a rate, but it often besides impacts the fixed rates that are disposable erstwhile your existent woody ends.

Given heightened inflation, galore experts are saying that cuts
from the existent basal complaint of 4.75% are unlikely.

8) December 21 - Deadline to use for Pension Credit to get the Winter Fuel Payment

The Winter Fuel Payment is wealth provided by the authorities to assistance older radical wage for heating successful the winter.

This outgo is particularly adjuvant for pensioners who
often person a fixed income and mightiness find it hard to support up with rising energy bills.

Depending connected their situation, eligible radical tin get up to £300 to assistance screen their costs.

However, this twelvemonth the authorities changed the rules to marque the Winter Fuel Payment a means-tested benefit.

As a result, millions of pensioners who utilized to get
the outgo whitethorn not person it present unless they conscionable the caller requirements.

For astir people, the deadline to use for a qualifying payment to get the WFP has passed, with 1 cardinal exception.

Because Pension Credit tin beryllium backdated for up to
three months, applying present means that you’d inactive beryllium capable to suffice for the other cash.

Pensioners who aren’t already receiving a qualifying payment request to use for Pension Credit by December 21, 2024, to get the Winter Fuel Payment this year.

You tin bash this by filling retired an exertion online connected the government’s website, oregon implicit the telephone by calling the Pension Service helpline.

You’ll request your National Insurance number, details astir your income and savings, and your slope relationship accusation for payment.

Pension Credit, which is worthy up to £3,900 a twelvemonth besides acts arsenic a gateway to different important benefits including assistance with lodging costs, council tax reductions and NHS
treatment costs.

9) December 24 and 31: aboriginal benefits payments

Most benefits and taxation credits payments volition beryllium going retired arsenic accustomed successful December, unless your emblematic outgo day falls connected Christmas Day oregon New Year’s Day.

In these cases, you’ll get your wealth a time aboriginal connected either December 24 oregon 25.

Do you person a wealth occupation that needs sorting? Get successful interaction by emailing money-sm@news.co.uk.

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