The Department for Work and Pension (DWP) will soon roll out its first instalment of the £900 Cost of Living Payment.
The payments will be part of a £94 billion support package which was announced by Chancellor Heremy Hunt during his Spring Budget. The aim of the package is to help support the most vulnerable families struggling with the worsening cost of living crisis.
The Cost of Living payments will be split into three instalments across 2023/24 and will be paid automatically. It's important to keep track of the varying amounts so you know what to look for in your account.
Read more: DWP Disability Cost of Living payment for 2023 payment date, amount and who is eligible
How much will be paid in each instalment?
The payments will come in the following amounts and order:
- £301
- £300
- £299
The dates for the payments have not yet been announced, however, the first payment is expected to land in early spring, according to the DWP. Meanwhile, it is believed the second payment will come in autumn while the third will arrive in spring 2024
These payments will be made separately from any benefit claims you receive.
In order to be considered eligible for the payments, you must be receiving one of the following benefits:
- Universal Credit
- Working Tax Credit
- Child Tax Credit
- Income Support
- Income-based Jobseeker's Allowance (JSA)
- Income-related Employment and Support Allowance (ESA)
- Pension Credit
However, if your Universal Credit has been cut to zero during the qualifying period, then you won't be considered eligible in most cases. All three instalments will go into accounts during the new financial year, which starts on April 6.
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