Key Dates in March

Pension Credit, which averages over £3,900 a year, is there to lend a hand with day-to-day expenses for those who have reached state pension age and are on a low income.   About 1.4m people are already receiving Pension Credit, but an estimated 880,000 eligible households are yet to claim it.  

In the Spring Budget, the Chancellor announced a change to the High Income Child Benefit Charge Threshold. This now means that parents earning between £60,000 and £80,000 are eligible for Child Benefit payments, although these are tapered. Child Benefit claims can be backdated 3 months, so it makes sense to make any claims as soon as possible.

On 21st March the Bank of England’s Monetary Policy Committee (MPC) decided to keep interest rates at 5.25%. Many people are still not taking full advantage of recently increased interest rates – Foresight clients can now take advantage of up to 4.86% interest on their deposits, with immediate access.  This has generated thousands of pounds of extra interest for a number of clients.  

Millions of telecom customers will see their broadband and mobile bills increase at the end of March by as much as 8.8% as providers implement their cost of living increases.  There are plenty of providers offering very competitive contracts that may significantly undercut what you are already paying, and often with better service and speeds.  Loyalty is not rewarded in telecoms.