New money guidance from Money and Pensions Service
The Money and Pensions Service (MaPS) has launched new guidance to help people manage changes to the cost of living. Its focus is on people who have not yet missed payments on their bills or credit commitments, but who are at serious risk of doing so.
The guidance on its MoneyHelper website helps people manage their money in uncertain times. These resources and tools are aimed at people who:
- Are struggling to keep on top of their bills and payments
- Have experienced a reduction in income or squeezed budgets
- Are self-employed
- Have been or are worried about being made redundant or losing their job
For people who are already missing payments on their bills or credit commitments, then free debt advice services are available via MaPS’ advice locator tool.
Household Support Fund doubled to help most vulnerable tackle cost of living
The Household Support Fund (HSF) has doubled to £1 billion with £500 million of new funding.
The six-month extension will help pensioners and families, as the Government takes further steps to help with the rising cost of living. People can continue to access support through their Local Authority, ensuring those most in need get the help available.
A third of the funding will be ring-fenced to support families with children, while another third will be dedicated to pensioners. This ensures the people who need it most will continue to receive vital support to meet essential household costs.
Using their local knowledge, Local Authorities will decide how to best use the remainder of the fund within the scope set out by ministers. Previous funding has supported households with food, clothing, energy and water costs, and this extension will ensure that support continues through to the autumn.
See the full press release: Household Support Fund doubled to help most vulnerable tackle cost of living.
