Millions of families are set to receive more cost of living payments over the next year, totalling up to £1,350 depending on your circumstances. With the first of five payments of £301 due to be rolled out by the Department for Work and Pensions (DWP) in Spring, everyone should check which payments they could be eligible for.
As part of the government’s ongoing cost of living support package, over eight million families in the UK will get more direct financial support this year. Five different payments, each worth between £150 and £301, will be send out to support families on means-tested benefits and disability support, starting in Spring 2023 with a £301 payment.
Yesterday in parliament (February 7), the DWP announced more detail on the support, which could total up to £1,350 for the most vulnerable households. The government has announced exact payment windows and qualifying periods for eligibility for the payments will be announced in due course.
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However, anyone on Universal Credit and tax credits, as well as DWP ‘legacy’ benefits including Jobseekers Allowance and Income Support, and Pension Credit are likely to receive cost of living payments of £301 (Spring 2023), £300 (Autumn 2023) and £299 (Spring 2024).
Meanwhile, many people who receive benefits and support for disabilities should be eligible for a Disability Payment of £150 (Summer 2023), and pensioners should be eligible for a £300 Pensioner Payment (Winter 2023-24). Eligible individuals do not need to apply for payments, as they are made automatically. Those eligible for cost of living payments through tax credits, and no other means-tested benefits, will be paid by HMRC shortly after DWP payments are made.
Work and Pensions Secretary, Mel Stride said: “These direct payments will help people right across the UK over this year and the start of the next, as we continue to provide consistent, targeted and substantial support for the most vulnerable.
“Our wider support package, including the Energy Price Guarantee, will ensure every household is being helped through this challenging period of high inflation, caused by Putin’s illegal war and the aftershocks of the pandemic.”
Chancellor of the Exchequer, Jeremy Hunt added: “High inflation, exacerbated by Putin’s illegal war, is hurting economies across the world and making people poorer.
“These payments are the next part of the significant support we are providing through this challenging time, with millions of vulnerable households receiving £900 directly into their bank accounts this financial year alongside additional help for pensioners and those with disabilities.
“This latest payment will provide some temporary relief, but the best thing we can do to help families and businesses is to stick to the plan to halve inflation this year.”
Payment windows will be broadly as follows:
- £301 – First 2023/24 Cost of Living Payment – during Spring 2023
- £150 – 2023 Disability Payment – during Summer 2023
- £300 – Second 2023/24 Cost of Living Payment – during Autumn 2023
- £300 – 2023 Pensioner Payment – during Winter 2023/4
- £299 – Third 2023/24 Cost of Living Payment – during Spring 2024
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