As of today, households are set to receive the third instalment of the £299 cost of living payments, marking the completion of the three-part support package initiated in autumn 2021. Eligible households on means-tested benefits will benefit from a total payment of up to £900 over the course of 2023/24. The Department for Work and Pensions (DWP) will distribute these payments across the UK from February 6 to 22.
Third Cost of Living Payments Begin Today for Eligible UK Households
Starting today, eligible households are set to receive the third instalment of the cost of living payments, marking the culmination of a support package initiated in autumn 2021.
Part of a three-payment scheme totalling up to £900, this financial aid targets households on means-tested benefits throughout the 2023/24 period.
The Department for Work and Pensions (DWP) will oversee payments across the UK between February 6 and 22, while households receiving tax credits only can anticipate payments from HM Revenue and Customs (HMRC) between February 16 and 22.
Secretary of State for Work and Pensions, Mel Stride, emphasizes that this additional cash boost aims to support millions of the most vulnerable households in light of improving economic conditions and falling inflation.
Who Qualifies for the Cost of Living Payments ?
To be eligible for the Cost of Living Payment, individuals must receive specific benefits or tax credits on designated dates. Qualifying individuals may receive up to three payments, with amounts set at £301, £300, and £299.
The eligible benefits and tax credits include:
- Income-related Employment and Support Allowance (ESA)
- Income Support
- Pension Credit
- Universal Credit
- Child Tax Credit
- Working Tax Credit
The payment will be issued separately from your regular benefit payments. The UK Government has affirmed its commitment to supporting vulnerable individuals with the cost of living, introducing measures such as a 6.7% inflation-based increase in benefits, maintaining the triple lock, and an 8.5% rise in the state pension starting from April.
For a comprehensive overview of available cost-of-living schemes, individuals can refer to the Help for Households website. Recent data from the Insolvency Service indicates a 25% surge in individuals seeking breathing space from debt in 2023 compared to the previous year, with 88,390 registered breathing spaces in England and Wales.
Haven't Received Your Cost of Living Payment ? Here's What To Do
If you find that you haven't received your Cost of Living Payment, follow these steps:
- Check the specific payment period:
- £301 paid between 25 April 2023 and 17 May 2023 for most people.
- £300 paid between 31 October and 19 November 2023 for most people.
- £150 Disability Cost of Living Payment paid between 20 June 2023 and 4 July 2023 for most people.
Before reporting a missing payment, review your bank, building society, or credit union account, or check your Payment Exception Service voucher receipt.
What additional benefits are available during the winter season?
In the UK, three essential winter support schemes offer financial assistance to individuals during the colder months:
Cold Weather Payments: Residents in areas with temperatures at or below zero for seven consecutive days qualify for £25 for each seven-day period of cold. In Scotland, this scheme is substituted with the Winter Heating Payment.
Warm Home Discount: Available to those with low income or high energy costs, including Guarantee Credit element recipients of Pension Credit. A one-off £150 payment supports energy bills from October 2023 to March 2024. Eligible individuals receive notification in January 2024, with a deadline to contact the DWP by 29 February 2024 if not received.
Winter Fuel Payment: Individuals over the state pension age (66 years old) in the UK receive a benefit ranging from £250 to £600 for heating bills. Automatic for state pension or most other benefit recipients; others may need to apply. The discount is typically deposited in October or November.
These schemes aim to alleviate the financial burden of cold weather and increased energy costs for individuals during the winter season.
