Millions of people have already received the Department for Work and Pensions' (DWP) first cost of living payment in recent weeks. The department began rolling out its £301 cost of living payments to millions of households on means-tested benefits in late April, with all payments due to be paid by May 17.
It is part of a combined financial support package worth £900 being handed out between now and next spring as the government aims to alleviate the cost of living crisis for those hardest hit. Many have faced spiralling costs in recent months with energy prices, supermarket prices and food inflation all rising.
While time has run out for most to claim the £301, there are more cost of living payments coming in the next few months that could make a big difference to your pocket. Here are all the cost of living payments and other money deadlines coming and how you can get them. To get all the latest money-saving news straight to your inbox sign up here.
Read more: Eight benefits, payments and discounts you might be missing out on and how you can apply for them
£301 cost of living payment - by May 17
The DWP has confirmed that seven million households have already received the money. All payments are expected to be made by May 17. The DWP says that if eligible older people make a claim for pension credit before Friday, May 19, they will be able to backdate it by the maximum of three months, taking it to within the qualifying period for the £301 payment. However, it’s important to note that only successful applicants will receive the cost of living payment along with pension credit arrears. The most recent figures from DWP suggest that an estimated 850,000 eligible pensioners could be missing out on the additional financial support. You can find out more about that here.
Once the majority of those who are entitled to a payment by DWP have been paid, HM Revenue and Customs (HMRC) will make payments of £301 between May 2 and 9 to one million eligible families receiving tax credits only.
Energy price cap announcement - End of May
Energy regulator Ofgem will announce the price cap to take effect from July 1, 2023 at the end of May. The price cap regulates how much the typical household is charged for gas and electricity and is predicted to fall to £2,024 from July. This is below the UK Government's energy price guarantee of £2,500, and will mean bills should finally start falling for households (though they will still be much higher than they were more than a year ago).
£150 disability payment - summer 2023
The DWP will make a £150 cost of living payment to those claiming disability benefits such as PIP and attendance allowance in the summer of 2023. No date has been decided but last year those with disabilities received a similar payment in September 2022.
Energy price cap announcement - end of August
Ofgem will announce the price cap to take effect from October 1, 2023.
£300 cost of living payment - autumn 2023
The DWP will start giving out its second cost of living payment - worth £300 - in the autumn. It has not confirmed either qualifying dates for those on benefits or when it will start sending out the money, but Money Saving Expert founder Martin Lewis has previously tweeted that he estimates it will be sent out in October or November.
£300 pensioner cost of living payment - November
Existing energy help schemes usually start to be paid in November. These include the warm home discount scheme, which offers £150 off your energy bill to certain pensioners and those on a low income receiving certain benefits; winter fuel payments offering up to £300 as well as an additional £300 cost of living payment; and cold weather payments which give you £25 for each seven-day period of very cold weather between November 1 and 31 March 31 if you receive certain benefits. The full eligibility criteria for the 2023/24 winter fuel payments has not yet been announced, but you can read more about this year's scheme here. You can read about all the help that is available for heating bills here.
£299 cost of living payment - spring 2024
The DWP will send out its third and final cost of living payment in spring 2024. No date has been confirmed for this, but Martin Lewis has predicted it is likely to be before April 6, 2024, when the tax year ends.
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