Cost of Living payment: £301 on the way for eligible households
Many of the lowest-income households will get new Cost of Living Payments from the Government, as bills and food costs remain high this spring. The first payment of £301 will be made between now and Wednesday 17 May 2023.
This is the first of three payments totalling up to £900 for people who are eligible and who already get means-tested benefits, such as Universal Credit or Pension Credit, in 2023/24. This follows the £650 Cost of Living Payment which was made in 2022.
There will also be further payments worth £150 for eligible people with disabilities and £300 for pensioners later this year. This means that some people will receive up to £1,350 in direct payments.
The £301 payment will be sent out automatically and directly to recipients, so you do not need to apply or do anything to receive it. The payment reference for bank accounts will be DWP COLP, along with the claimant’s National Insurance number.
The full list of benefit recipients that qualify for the upcoming Cost of Living Payment are those who receive:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Pension Credit
The qualifying period for this payment is between 26 January 2023 and 25 February 2023.
To be eligible for the Cost of Living Payment, you need to have been entitled to a payment for one of these benefits between 26 January 2023 and 25 February 2023, or payment for an assessment period ending between these dates.
The Department for Work and Pensions is also encouraging low-income pensioners not already getting Pension Credit to check their eligibility, as they can still qualify for the £301 Cost of Living Payment if they make a successful backdated Pension Credit application by 19 May 2023.
Those who are eligible for the £301 Cost of Living Payment solely through tax credits, and are not eligible through DWP means-tested benefits, will be paid by HMRC shortly after DWP payments begin. HMRC will publish specific details of when payments will be made to these customers along with the bank account payment reference.
Eligible customers will not need to apply or contact the Government at any stage to receive the £301 Cost of Living Payment.
For more news, advice and support for the cost of living, take a look at our dedicated webpages.