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Teenagers to receive £1.6k a month for two years in new trial starting this week
READ MORE: Millionaire reveals his tricks for getting flight upgrades for less moneyThis works out at around £19,000 a year before tax.Participants can choose whether to receive the payment either monthly or twice in a month.It will be paid to them by an external provider and given to individuals, rather than households.The Welsh government says the cash offered is the highest amount provided on a basic income pilot anywhere in the world.But it admits some people will be better off on existing benefits, like Universal Credit.If you're claiming benefits, you'll need to tell the Department of Work and Pensions (DWP) as they could be re-adjusted.An exception to this will be Personal Independence Payments (PIP) and those in supported housing will be entitled for the benefit.First Minister Mark Drakeford said: "We want all our young people to have the best possible chance in life and fulfil their potential."Our focus will be on opening up their world to all its possibilities and create an independence from services as their lives develop."A person leaving care turning 18 between July 1, 2022, and June 30, 2023, will be entitled.It applies to someone cared for by a council for a period of 13 weeks which began after they reached 14 and ended after they hit 16.Participation in the pilot is voluntary.