Cost of living payment starts arriving tomorrow


The Department for Work and Pensions (DWP) is set to issue the third low-income cost of living payment.

The payment will be sent to more than eight million of the country’s most vulnerable households as the UK continues to deal with high energy prices, inflation and inequality.

Here’s when you can expect it to be paid:

Who is eligible for the payment?

People qualify for the payment if they receive the following benefits:

  • Universal credit;
  • Income-based jobseeker’s allowance;
  • Income-related employment and support allowance;
  • Income support;
  • Pension credit;
  • Working tax credit;
  • Child tax credit.

To be eligible, you must also have been entitled to a payment for a qualifying benefit during a specified assessment period.

For this month’s cost of living payment of £299, you are entitled to a payment in the assessment period that ended in the period 13 November 2023 to 12 December 2023.

However, people will not be eligible for the payment if their qualifying benefit is reduced to nil for the qualifying period. This is sometimes called a “nil award”. Reasons a benefit may be reduced to £0 include:

  • You got more than one payment of earnings in your universal credit assessment period;
  • Your or your partner’s earnings went up;
  • Your or your partner’s savings went up;
  • You started getting another benefit;
  • You got a sanction because you did not do something you agreed in your claimant commitment.

Applicants may still be eligible, however, if your benefit is reduced to nil and one of the following applies:

  • Money was taken off your benefit for other reasons, such as payments of rent to your landlord or for money that you owe;
  • You had a hardship payment because you could not pay for rent, heating, food or hygiene needs.

When will I get the payment?

The third cost of living payment of £299 will be made between 6 and 22 February.

The first payment of £301 was made between April and May last year, and the second, of £300, was issued between October and November last year.

The slightly different payment amounts are to make it easier for DWP and HMRC to track which grants people have received in order to minimise fraud risk.

If, by the end of the payment window, you have not received the money but believe you should have, you can find out how to report it missing here.

How will it arrive in my bank account?

The payment reference for bank accounts will be the recipient’s national insurance number followed by “DWP COL” or “HMRC COLSD”.

As with the previous instalments, the payment will be tax free, will not count towards the benefit cap, and does not have any impact on existing benefit awards.

You do not need to apply for the payment, so if you are eligible, you should receive it automatically.

Will there be further cost of living payments?

This is the third and final payment for the 2023-24 period and there are no further payments planned.

DWP has said that it has provided £104bn over 2022-25 to help with the cost of living crisis, and that it currently has “no plans to extend cost of living payments”.

However, some charities have called on the Government to extend the scheme, as energy prices remain high, plunging many of society’s most vulnerable into poverty and debt.

An online petition, wiyth more than 15,000 signatures so far, has been set up to pressure the Government into continuing to provide low-income households with cost of living payments beyond February.

The petition says: “I don’t think the cost of living crisis is going away anytime soon, however the Government intend to make the final payment in February 2024.

“I think many low-income households are going to be feeling the impact of rising cost of living and will need support throughout the year.”

Read original article here

Denial of responsibility! Genx Newz is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment