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Millions of state pensioners will be receiving the DWP’s Christmas bonus this week | Personal Finance | Finance
The Department for Work and Pensions (DWP) confirmed the £10 Christmas Bonus given to those who get the state pension or claim another qualifying DWP benefit will be paid from Monday, December 5. The Christmas one-off tax-free payment is made to help people with the added costs of the festive period. The DWP confirmed yesterday the payment would be made in the first full week of December.
It won’t be made on just one specific day, but throughout the week so people should continue to check their accounts.
In a statement, the Department said: “It will be paid in the first full week of December. So, throughout this week, people will receive their payment. It is paid automatically, so nobody needs to claim it.”
There are 20 benefits which made someone eligible for the Christmas bonus and they must be claiming it during the “qualifying week”.
The benefits which get the Christmas bonus include Attendance Allowance, Pension Credit, Personal Independence Payment (PIP), and Carer’s Allowance.
READ MORE: Pensioners could get ‘lifeline’ payment worth up to £370 per month
The whole list includes:
- Adult Disability Payment
- Armed Forces Independence Payment
- Child Disability Payment
- Constant Attendance Allowance (paid under Industrial Injuries or War Pensions schemes)
- Contribution-based Employment and Support Allowance (once the main phase of the benefit is entered after the first 13 weeks of claim)
- Disability Living Allowance
- Incapacity Benefit at the long-term rate
- Industrial Death Benefit (for widows or widowers)
- Mobility Supplement
- Severe Disablement Allowance (transitionally protected)
- Unemployability Supplement or Allowance (paid under Industrial Injuries or War Pensions schemes)
- War Disablement Pension at State Pension age
- Widow’s Pension.
- Widowed Mother’s Allowance
- Widowed Parent’s Allowance
- Widow’s Pension
The “qualifying week” of the 2022 Christmas Bonus payment is this week, beginning December 5 to December 11.
To qualify, as well as receiving one of the benefits listed below, people must also be present or “ordinarily resident” in the UK, Channel Islands, Isle of Man or Gibraltar during the qualifying week.
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If someone is part of a married couple, in a civil partnership or lives together, both will get the cash bonus – as long as both are eligible.
If someone’s partner does not get one of the qualifying benefits, they may still get the Christmas Bonus.
This could happen if both partners are over the state pension age by the end of the qualifying week and if they were also present in the UK, the Channel Islands, Isle of Man, Gibraltar, European Economic Area (EEA) country or Switzerland during the qualifying week.
The DWP confirmed that both of these reasons must apply in order for them to qualify.
If someone thinks they should get the bonus but have not, the DWP recommends they contact the Jobcentre Plus office which deals with their payments or the Pension Service.
The £10 bonus was first introduced in 1972 by the Conservative Government at the time to provide additional support at a time of high inflation.
The bonus has stayed at £10 since its inception five decades ago except in 2008, when it increased to £70 to support 15 million vulnerable people during the financial crash.
While £10 was considered a large sum of money in 1972 many have criticised the payment now with many saying the £10 payment is not enough to help with the cost of Christmas today.
In 2019, the anti-poverty charity Turn2us urged the Government to increase the bonus in line with inflation, saying it should be worth around £130 now.
However, the £10 bonus would need to increase even more to meet the current level of inflation the UK is seeing right now.
Another criticism of the bonus is that it goes to all pensioners, regardless of their income in retirement and for some, £10 may mean very little.
A DWP spokesperson said: “We know that Christmas is a time that can stretch budgets which is why we offer those on certain benefits a £10 bonus and pay many people their benefits earlier than usual, helping them over the festive period.”
Mumbai:
The Indian equity benchmark indices opened higher on Friday amid positive global cues, as buying was seen in the IT, pharma and auto sectors in the early trade.
At around 9.27 am, Sensex was trading 265.3 points or 0.33 per cent up at 80,066.81 while the Nifty added 89.85 points or 0.37 per cent at 24,336.55.
Nifty Bank was down 222.85 points or 0.40 per cent at 54,978.55. The Nifty Midcap 100 index was trading at 54,980.80 after increasing 10.95 points or 0.02 per cent. Nifty Smallcap 100 index was at 16,903.30 after declining 60.20 points or 0.35 per cent.
According to market watchers, “after a positive opening, Nifty can find support at 24,200 followed by 24,100 and 24,000. On the higher side, 24,500 can be an immediate resistance, followed by 24,600 and 24,700.
“The charts of Bank Nifty indicate that it may get support at 55,000 followed by 54,700 and 54,500. If the index advances further, 55,500 would be the initial key resistance, followed by 55,800 and 56,200,” said Hardik Matalia, Derivative Analyst of Choice Broking.
Meanwhile, in the Sensex pack, TCS, Tata Steel, Maruti Suzuki, Eternal, ICICI Bank, SBI, HDFC Bank, Infosys, M&M and Tata Motors were the top gainers. Whereas, Axis Bank, Tech Mahindra, Nestle India and IndusInd Bank were the top losers.
In the last trading session, Dow Jones in the US added 1.23 per cent to close at 40,093.40. The S&P 500 climbed 2.03 per cent to 5,484.77 and the Nasdaq added 2.74 per cent to close at 17,166.04.
In the Asian markets, Jakarta, Bangkok, Seoul, Hong Kong, China and Japan were trading in green.
According to analysts, US markets extended their rally on Thursday as investors snapped up hard-hit technology stocks, helping boost the S&P 500 out of correction territory.
The foreign institutional investors (FIIs) bought equities worth Rs 8,250.53 crore on April 24. However, domestic institutional investors (DIIs) sold equities of Rs 534.54 crore on the same day.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Mumbai:
Indian equity markets are trading in the red as tensions soar between India and Pakistan over the Pahalgam terror attack in Kashmir. Sensex, the 30-share BSE benchmark, has crashed over 1,000 points and is now trading below the 79,000-mark. Nifty, the NSE index of 50 shares, fell below 24,000 points.
The markets went up in early trade, driven by a global rally and fund inflows, but the momentum got lost thereafter, and it gave up the initial gains.
The markets are also upset by unimpressive March quarter earnings by Axis Bank, the third-largest private sector bank of the country. The bank’s shares have fallen 4.65% after reporting a decline in quarterly profit from Rs 7,130 crore in the year-ago period to Rs 7,117 crore.
Besides Axis Bank, major laggards include Bajaj Finance, Bajaj Finserv, Tata Motors, and Tech Mahindra. On the gaining side are TCS, Infosys, Reliance, HCL Tech, HDFC Bank, and ICICI Bank.
At least 26 civilians were massacred by terrorists in a tourist hotspot known as ‘Mini Switzerland’, leading to both countries pulling out their diplomatic staff and suspending visas issued to the other nation’s citizens. (Follow live updates here)
The latest flare-up at the Line of Control was speculative firing by Pakistani troops, which is being seen as an attempt to provoke the Indian side. Indian troops retaliated effectively against the firing from multiple Pakistani posts.
As Indian equities braced for the impact, global equities, including the Asian markets, were charting in the positive territory. South Korea’s Kospi index, Tokyo’s Nikkei 225, Hong Kong’s Hang Seng, and Shanghai SSE Composite were all in green.
Similar trends were seen in US equities, too. Last evening, Nasdaq Composite closed 2.74 per cent higher. S&P 500 jumped over 2 per cent and Dow Jones Industrial Average surged 1.23 per cent.
Mumbai:
Equity benchmark indices Sensex and Nifty declined in early trade on Thursday amid profit-taking after a seven-day rally and muted trend in Asian markets.
The 30-share BSE benchmark declined 242.01 points to 79,874.48 in early trade. The NSE Nifty went down by 72.3 points to 24,256.65.
In the past seven trading days, the BSE benchmark gauge zoomed 6,269.34 points or 8.48 per cent and the Nifty jumped 1,929.8 points or 8.61 per cent.
From the Sensex firms, Eternal, Bharti Airtel, ICICI Bank, Mahindra & Mahindra, HCL Technologies, Reliance Industries, and HDFC Bank were among the laggards.
IndusInd Bank, Tech Mahindra, Nestle, Bajaj Finance, Axis Bank, and Tata Motors were among the gainers.
In Asian markets, South Korea’s Kospi index, Shanghai SSE Composite, and Hong Kong’s Hang Seng were trading lower while Tokyo’s Nikkei 225 quoted in the positive territory.
US markets ended sharply higher on Wednesday. Nasdaq Composite jumped 2.50 per cent, S&P 500 surged 1.67 per cent and Dow Jones Industrial Average climbed 1.07 per cent.
Global oil benchmark Brent crude climbed 0.12 per cent to USD 66.20 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 3,332.93 crore on Wednesday, according to exchange data.
The BSE benchmark jumped 520.90 points or 0.65 per cent to settle at 80,116.49, the highest closing level since December 18, on Wednesday. The Nifty rallied 161.70 points or 0.67 per cent to 24,328.95.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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