Navigate the 2023 Cost of Living Payments, including eligibility criteria, payment dates, and financial relief details. Explore the upcoming £300 payment, along with additional benefits for disabled individuals and pensioners.
Amidst the ongoing cost of living crisis, much-needed financial assistance is being extended to individuals with low incomes. While energy bills remain high and expenses like council tax, water bills, phones, and broadband have surged since April, households are experiencing financial pressure. A series of new Cost of Living Payments are scheduled for 2023/24, building on the first payment already dispensed earlier this year. Anticipation surrounds the arrival of the second payment.
The second Cost of Living Payment, amounting to £300, is projected to arrive in the autumn of 2023. While the exact date is not presently confirmed, it is expected to be announced closer to the time. Considering the pattern from the previous year, when two payments totaling £650 were distributed four months apart (July and November), a similar timeline could result in payments around August 22. Nevertheless, the government’s indication of an “Autumn” arrival suggests possible dates in September or October. Following this second payment, a third installment of £299 is set to come in early 2024, summing up to £900 in total. These payments are expected to benefit over eight million households, as disclosed by the Department for Work and Pensions (DWP).
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Eligibility for these payments extends to individuals receiving any of the following benefits:
- Universal Credit
- Income-based Jobseekers’ Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Pension Credit
The initial Cost of Living Payment was disbursed between late April and mid-May, granting eligible recipients £301 from April 25 to May 17. Tax credit recipients with no other benefits should have received their payment from May 2 to May 9. Payment arrived through the usual benefits or tax credits channel, displaying ‘DWP COL’ or ‘HMRC COL’ as reference.
Other Cost of Living Payments for 2023/24 include:
- £150 Disability Cost of Living Payment: Over six million disabled individuals receiving qualifying disability benefits received a one-time payment of £150. Most payments were processed between June 20 and July 4. Eligibility requires having received a qualifying benefit on April 1, 2023.
- £300 Pensioner Cost of Living Payment: Pensioners entitled to Winter Fuel Payment (born before September 26, 1956) will receive an extra £300 per household in the upcoming winter. Eligible recipients should have already received the Winter Fuel Payment, with the deadline for claims for 2022/3 being March 31, 2023. The £300 Pensioner Cost of Living Payment is scheduled for the winter of 2023/4.
All these Cost of Living Payments are tax-free, won’t affect existing benefits, and don’t count toward the government’s benefit cap.
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