Households who have not yet received the first instalment of the £900 cost of living payment will soon get the funds in their account, the Government has said.
The £900 cost of living payment is going out to people on certain means-tested benefits in three instalments over this financial year.
Payments for the first instalment of £301 began on April 25 for those on eligible DWP benefits while payments for those on tax credits began yesterday on May 2.
The Government has confirmed most of the payments have now gone out to eligible Britons with the rest to go out by May 17.
Around one million eligible families who claim tax credits alone will be paid the amount between May 2 and May 9.
The payment will appear on a person’s bank statement with the reference ‘HMRC COLS’. The payment will go out separately from a person’s benefit payments and will be paid automatically.
READ MORE: Savings warning as inflation slashes value of cash – how to beat the trend
People on these benefits may be eligible for the £900 cost of living payment:
- Income-based Jobseeker’s Allowance (JSA)
- Income-related Employment and Support Allowance (ESA)
- Income Support
- Pension Credit
- Universal Credit
- Child Tax Credit
- Working Tax Credit.
People on disability benefits are also to receive a separate £150 cost of living payment, which will go out during summer 2023.
Those who claim these benefits may receive the payment:
- Disability Living Allowance
- Personal Independence Payment
- Attendance Allowance
- Scottish Disability Benefits
- Armed Forces Independence Payment
- Constant Attendance Allowance
- War Pension Mobility Supplement.
Pensioners who receive the Winter Fuel Payment will also get an additional pensioner cost of living payment, worth between £150 and £300, this winter.
Benefit payments have increased 10.1 percent, providing a welcome boost to Britons on low incomes, as many household bills also increased in April, including energy bills and council tax.
These are the new standard allowance payments for Universal Credit:
- Single under 25: £292.11 (up from £265.31 per month)
- Single 25 or over: £368.74 (up from £334.91 per month)
- Joint claimants both under 25: £458.51 (up from £416.45 per month)
- Joint claimants, one or both 25 or over: £578.82 (up from £525.72 per month).
For the latest personal finance news, follow us on Twitter at @ExpressMoney_.
