The Department for Work and Pensions (DWP) has announced when the second instalment of the £650 cost of living payment will begin arriving in bank accounts.
The first instalment of the £650 cost of living payment has started landing in people's accounts, with most set to receive the £326 sum by the end of July. Some, however, are not expected to get it until next month.
The UK Government announced the payment earlier this year to support those struggling amid the worsening cost of living crisis. The money will be automatically to over eight million UK households.
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As reported by Leicester Live, in order to qualify for the money, you must be claiming one of seven means-tested benefits from the DWP. These include Universal Credit and income-based Jobseeker’s Allowance (JSA).
Additional support from the UK Government is also available for those with a disability in the form of a one-off £150 sum. This can be paid on top of the £650 payment.
Approximately 7.2 million £326 payments have already been issued. The full list of qualifying benefits is as follows:
- Universal Credit
- Income-based Jobseeker’s Allowance (JSA)
- Income-related Employment and Support Allowance (ESA)
- Income Support
- Pension Credit
- Child Tax Credit
- Working Tax Credit
Those who get tax credits but no other eligible benefit will be issued their £326 payment from HMRC in the autumn, and will get the second instalment in the winter.
When is the second cost of living payment?
The qualifying period for the second £324 cost of living payment will not be the same as the first. While the exact date of when the money will be issued has yet to be revealed, the DWP has confirmed that it will be during autumn 2022.
The money is due to arrive just in time for a major 65 per cent rise in the energy price cap. Millions of homes across Scotland and the UK are expected to pay as much as £3,240 a year in energy bills.
Chancellor of the Exchequer Nadhim Zahawi commented: "I know that people are finding things difficult with rising prices and increasing pressure on household budgets. That's why we're taking action to control inflation and providing immediate help for households."
"It's so important that over 7 million vulnerable households have received £326 direct payments so far and there is also more help to come, with 8 million of the most vulnerable households receiving £1,200 of direct support to help with bills over the winter."
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