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Millions of households will receive a financial support package worth £1350, with some instalments already made.
These payments have been made as part of Government support against the cost of living crisis.
Around 10 million people are struggling with bills, left to choose between heating and eating while trying to make ends meet, research suggests.
According to a recent study by the Financial Conduct Authority, this is a 3.1 million increase year-on-year as inflation is still in double digits at 10.1 percent.
Keeping up with day-to-day costs can be a struggle as fuel, energy, and supermarket goods remain high in price.
To help those most in need, the Government has set up financial support available for those on low incomes.
One of these payments is the cost of living support for low-income households, which is worth up to £1,350 a year in total.
Eight million eligible means-tested benefits claimants will receive a £900 payment which will be made in three direct payments to their banks from the DWP.
Means-tested benefits include people on Universal Credit, Pension Credit, and Tax Credits.
A separate payment worth £150 will also be paid to over six million people with disabilities. As well as an extra £300 for more than eight million pensioners.
However, it’s important to note that only successful applicants will receive the cost of living payment along with pension credit arrears.
The most recent figures from DWP suggest that an estimated 850,000 eligible pensioners could be missing out on the additional financial support.
The DWP has confirmed the window for when people can expect their cost of living payments.
The instalments have already started to take place and will continue throughout the year and into 2024.
The latest payment of £301 was issued between April 25 and May 17, or May 2 to 9 for those on tax credits.
The payment schedule is as follows:
- £150 – Disability payment – most will be paid automatically between June 20 and July 4.
- £300 – Second cost of living payment – paid during Autumn 2023 for most people
- £300 – Pensioner payment – paid during winter 2023/24
- £299 – Third cost of living payment – during Spring 2024
Who is eligible for the payment?
The £301 payment will be paid to eligible households receiving the following benefits:
- income-based jobseeker’s allowance (JSA)
- income-related employment and support allowance (ESA)
- Income support
- Pension credit
- Universal credit
- Child tax credit
- Working tax credit
The payment will be made separately from one benefit payment.
They will not get a payment if they are only getting New Style ESA, contributory ESA, or New Style JSA.
