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Benefit year

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A benefit year is a 12-month period in which individuals are eligible to collect compensation, typically related to insurance policies or unemployment benefits.[1][2]

In the United Kingdom, the Jobseeker's Allowance for individuals who have contributed to National Insurance is paid during a benefit year that runs from the first Sunday in January until the Saturday before the first Sunday in January.[3] It is distinct from the UK tax year which runs from 6 April to 5 April each year.[2]

References

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  1. ^ "benefit year". Merriam Webster Dictionary. Retrieved 2024-06-25.
  2. ^ a b Iacurci, Greg (December 1, 2020). "Laid off again? Here's what you need to know about collecting unemployment benefits". CNBC. Retrieved 2024-06-25.
  3. ^ Jenkin, Matthew (6 April 2024). "National Insurance, benefits and state pension". Which?. Retrieved 2024-06-25.