Martin Lewis has issued an important update on the £900 cost of living payment from the Depart of Work and Pensions.
The MoneySavingExpert has revealed when he thinks the first instalment of the payment will fall after the tax year.
DWP announced that eligible claimants on means-tested benefits will receive the £900 split into three separate payments – £301, £300 and £299. Although DWP has disclosed that the first payment will be made this spring, the second in autumn and the final sum next spring, it has not revealed specific dates.
READ MORE: Martin Lewis issues urgent advice on what to do if you’ve had a prepay meter forcibly installed
However Martin took to twitter to announce that he believes the first instalment will be after April 6 2023, the second in October or November of this year and the third before the tax year ends on April 6, 2024.
In his tweet he wrote: “UPDATE: On the £900 cost of living payment for 8m on means-tested benefits. It’ll come in 3 instalments – £301 ‘Spring’ 23 (as its for the next tax year, it’ll be after 6 April) – £300 ‘Autumn’ 23 (I’d guess Oct/Nov) – £299 ‘Spring’ 24 (I’d guess before tax year ends on 6 April)”
If you were wondering why the payments were different amounts, Mr Lewis also explained this. Saying that the differing amounts make it easier to pinpoint any problems with payments.
Eligible claimants do not need to do anything to receive the cost of living payment, payments will be made automatically.
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