finance topic two key terms

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payable to those over state pension age who have a long term illness or disability that means they cannot perform basic daily living activities or have limited mobility
attendance allowance
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a limit to the total amount in some benefits that working age people can receive
benefits cap
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paid to anyone over 16 who spends 35 + hours per week looking after someone who has substantial care needs
carer's allowance
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inflation measurment- calculated by checking the price of a representative sample of goods on a monthly basis
consumer prices index
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provides income directly from the state when sickness or disability prevents you from working
employment and support allowance
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benefits paid to eligible claimants providing they have paid the required number of national insurance contributions
contributory benefits
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the value of all the goods and services within a country over a year
gross domestic product
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being replaced by universal credit- benefits that were paid to those who had low incomes to help with their housing costs
housing benefit
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being replaced by universal credit- provide a 'safety net' for those not eligible for other unemployment and sickness allowances
income support
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the main benefit for those of working age who are not full time but are able to work
jobseeker's allowance
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this benefit is reduced if your household income is above a certain level or you have more than £6,000 in savings
means testing
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benefits paid to eligible claimants who have either not paid enough NICs to claim contributor benefits
non contributory benefits
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a benefits that people recieve from the sate once they reach a certain age, providing they have paid enough National insurance contributions
state pension
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a benefit paid to mothers while they are not working before and after their baby is born
statutory maternity pay
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a benefit payable to fathers to enable them to take time off to support their partner when a baby is born
statutory paternity pay
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a benefit that provides an income, vai the employer, when sickness or disability prevents an individual from working
statutory sick pay
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a means tested benefit for people of working age that will eventually replace six other, old benefits
universal credit
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the state provision of healthcare and education, low cost housing, and a comprehensive system of contributory and non contributory pensions and social security benefits
welfare state
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a payment made to people who have a job but earn less than the minimum level considered to be enough to live
working tax credit
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Other cards in this set

Card 2

Front

a limit to the total amount in some benefits that working age people can receive

Back

benefits cap

Card 3

Front

paid to anyone over 16 who spends 35 + hours per week looking after someone who has substantial care needs

Back

Preview of the front of card 3

Card 4

Front

inflation measurment- calculated by checking the price of a representative sample of goods on a monthly basis

Back

Preview of the front of card 4

Card 5

Front

provides income directly from the state when sickness or disability prevents you from working

Back

Preview of the front of card 5
View more cards

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