Over one million additional people will start receiving a £300 one-off cost of living payment this week. Households on certain benefits have already begun receiving the cash, while those on tax credits will start receiving the payment on November 10. The payment will be made automatically into the claimant's bank accounts.
Who is eligible for the payment?
To be eligible for the £300 cost of living payment, individuals must have been entitled to one of the following benefits between August 18 and September 17:
- Universal Credit
- Income-based jobseeker's allowance
- Income-related employment and support allowance
- Income support
- Working tax credit
- Child tax credit
- Pension credit
If individuals were found to be entitled to any of these benefits during the same period, they will also be eligible for the payment. The payment reference for bank accounts will be the recipient's National Insurance number followed by DWP COL or HMRC COLS.
What are the payment details?
The £300 payment is the second of three payments that make up the £900 support. The first instalment of £301 was paid out to over eight million households earlier this year, and the final £299 payment will be made in the spring of 2024. In 2022, over eight million people received a £650 cost of living payment.
Can I still apply for a qualifying benefit and receive the payment?
Households that apply for certain benefits can have their payments backdated depending on their circumstances. For example, over 1.4 million pensioners receive pension credit, which makes them eligible for the £300 cost of living payment. However, there are 850,000 more pensioners who are eligible for the benefit but are not claiming it. To ensure eligibility for the next two cost of living payments, worth £300 in the autumn and £299 in the spring of 2024, individuals should apply for pension credit by December 10. The DWP may be unable to process claims received after this date in time for the payment.
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