The Department of Work and Pensions (DWP) has announced a payment date schedule for this year's £900 Cost of Living Payments.
The cash boosts will be split into three separate payments, with each being paid between Spring of this year and Spring of next year.
The boost will be eligible people who are claiming Universal Credit, Pensions Credit, tax credits and Jobseekers Allowance.
READ MORE: PIP claimants with any of these 21 health conditions may be eligible for £627 per month
As well as those claiming benefits, there will be payments made to millions of disabled people and pensioners to help them ease any financial strain as a result of the increasing cost of living crisis.
The cost of living Payment 2023 schedule is said to be as follows:
- First Cost of Living Payment - £301, Spring 2023
- Second Cost of Living Payment - £300, Autumn 2023
- Third Cost of Living Payment - £299, Spring 2024
However tweeting after the announcement, Martin Lewis gave exact dates as to when he assumes the money will be paid to those who qualify.
Martin Lewis predicted dates for £900 Cost of Living Payment
Taking to Twitter Martin Lewis wrote: "UPDATE: On the £900 cost of living payment for 8m on means-tested benefits. It'll come in 3 instalments - £301 'Spring' 23 (as its for the next tax year, it'll be after 6 April) - £300 'Autumn' 23 (I'd guess Oct/Nov) - £299 'Spring' 24 (I'd guess before tax year ends on 6 April)"
As a result, each payment may be paid on the following dates:
Exact dates will be announced closer to the time of each payment. You do not need to apply as those who are eligible will receive the cash in their bank accounts automatically.
Who qualifies for the £900 Cost of Living Payment?
- Universal Credit
- Income Support
Child Tax Credit
- Pension Credit
- Working Tax Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
READ NEXT:
Iceland recalls popular sweet treat due to two undeclared allergens of peanut and egg
Glasgow NatWest branch to shut at end of month as part of nationwide closures
Tesco Cafe free kids meals warning as scheme set to end within days
Ways to keep your home warm and bills low, according to property expert
Argos shoppers rave over 'bargain' wearable blanket saving them money on heating bills
