Topic 2 Key Terms Flashcards
Attendance Allowance
Payable to those aged 65+ who have a long-term illness or disability that means they cannot perform basic daily living activities or have limited mobility.
Benefits cap
A limit to the total amount in some benefits that working-age people can receive, even if their full entitlement would otherwise be higher.
Carer’s Allowance
Paid to anyone over 16 who spends 35 hours per week or more looking after someone who has substantial care needs.
Child Benefit
Money paid to parents or other people who are responsible for bringing up a child.
Child Tax Credit
A benefit paid to people who are in low-paid work, to help with the costs of bringing up a child.
Consumer Prices Index (CPI)
One of the means the government uses to measure inflation. It is calculated by checking the price of a representative sample of goods on a monthly basis – this enables statisticians to measure how much prices are rising or falling.
Contributory benefits
Benefits paid to eligible claimants providing they have paid the required number of National Insurance contributions (NICs).
Employment and Support Allowance
Provides an income directly from the state when sickness or disability prevents you from working.
Gross domestic product (GDP)
The value of all the goods and services produced within a country over a year.
Housing Benefit
Paid to those who have low incomes – either because they are in low- paid work or they are not employed – to help with their housing costs.
Jobseeker’s Allowance
The main benefit for those of working age who are not working full time but are able to work.
Income Support
A payment designed to provide a ‘safety net’ for those not eligible for other unemployment and sickness allowances, to provide money to pay for basic needs.
Life expectancy
The number of years that people are expected, on average, to live, based on the year in which they are born.
Means testing
Means-tested benefits are reduced if your household income is above a certain level or you have more than £6,000 in savings.
Non-contributory benefits
Benefits paid to eligible claimants who have either not paid enough NICs to claim contributory benefits or need a ‘top-up’ payment because the contributory benefits they receive do not meet their income needs.
