Money Wellness
woman counting ten pound notes into her purse
category iconbenefits
category iconcost of living
category icondebts
calendar icon28 Mar 2023

Millions of Brits will get a £900 cost-of-living payment starting next month – are you eligible?

Eight million eligible Brits will receive the first of three cost-of living payments next month, the Department of Work and Pensions (DWP) has confirmed.

The money will be paid directly into the bank accounts of means-tested low-income families in three separate payments with the first due to land between 25th April and 17th May.

The measures are designed to help people with the soaring costs of living, which is continuing to rise.

 

Who is eligible?

To qualify for this £900 payment, you must have been receiving means-tested benefits between 26th January and 25th February 2024. These include:

-          Universal Credit

-          Income-based Jobseekers Allowance

-          Income-related Employment and Support Allowance

-          Income Support

-          Working Tax Credit

-          Child Tax Credit

-          Pension Credit

 

What are you entitled to?

-          First payment of £301 will be made between 25th April and 17th May

-          A second payment of £300 will be made in the Autumn

-          And a final instalment will be paid in the spring of 2024

 

The DWP has said that people on tax credits only will receive their payment from HRMC after the DWP payments have begun. Those receiving the £301 payment from DWP will see it appear in their bank account as ‘DWP COLP’ accompanied by their National Insurance (NI) number.

These payments follow the £650 cost-of-living payment made in 2022. They are in addition to the ones that will be made available to pensioners and those with disabilities later this year, where more than six million people will receive a £150 disability cost-of-living payment. Pensioners will also be entitled to a £150 or £300 cost-of-living-payment from November 2023.

Are you sure you’re getting the benefits you’re entitled to? It can be a complicated process. We can do a free benefits check to make sure you’re not missing out on help that you’re entitled to. One in three people we help find that they get more money than they’re currently claiming. Get in touch if you’d like us to help. 

Avatar of Caroline Chell

Caroline Chell

Caroline has worked in financial communications for more than 10 years, writing content on subjects such as pensions, mortgages, loans and credit cards, as well as stockbroking and investment advice.

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