A number of cost of living payments are still to come to help people who are struggling financially.
Millions of householders are finding it difficult to pay their bills at the moment, with increased costs and pressures on their budgets. According to a recent study by the Financial Conduct Authority, as many as 10 million people could be struggling with bills, a 3.1 million increase year-on-year.
Inflation is still in double digits at 10.1%, while fuel, energy, and supermarket goods remain high in price. To try and help those who are struggling the most, the Government has set up a number of state support options available for people on low incomes, as well as previous support for every household with the cold weather payments through winter.
Read More: Map shows where £150 DWP cost of living payments will be made in the North East
One of these payments is cost of living support for low income households, which is worth up to £1,350 a year in total, reports LeicestershireLive. Eight million eligible means-tested benefits claimants, including people on Universal Credit, pension credit, and tax credits, will receive £900 in instalments from this spring, being made in three direct payments to their banks from the Department for Work and Pensions (DWP).
There will also be a separate £150 payment for more than six million people with disabilities, as well as an extra £300 for more than eight million pensioners. The DWP has confirmed the window for when you can expect these payments, which will take place throughout the year and into 2024.
There has already been a £301 cost of living payment issued between April 25 and May 17 - or May 2 to 9 for those on tax credits. The rest of the payments are listed below.
- £150 - Disability payment - most will be paid automatically between June 20 and July 4.
- £300 - Second cost of living payment - paid during Autumn 2023 for most people
- £300 - Pensioner payment - paid during winter 2023/24
- £299 - Third cost of living payment - during Spring 2024
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