Many people expecting to receive the next series of Cost of Living payments from the government may have noticed that they're a bit different from 2022.
Throughout 2023 and 2024, three instalments of the £900 payment will be rolled out for eight million Brits receiving means-tested benefits. The first of these payments will be handed out in Spring 2023 which, as money-saving expert Martin Lewis explains, will be after the next tax year which starts on April 6.
While we know around what time of year the payments will be dished out, the exact dates have not yet been released by the Department for Work and Pensions (DWP). What we do know, however, is that the first payment will cost £301, the second £300, and the third £299.
Read more: 11 DWP Cost of Living changes for 2023 including payments, Universal Credit, ESA, and JSA
Writing on Twitter, Mr Lewis explains why the payments are being handed out in slightly different amounts, instead of equals. He said: "If you're wondering why the different amounts. It's so they will be able to pin point which payment you've had and which not more easily if there are problems (which is actually quite clever).
When will the £900 Cost of Living payments be made?
According to the DWP, the payment dates are as follows:
- £301 – First Cost of Living Payment – during Spring 2023
- £150 – Disability Payment – during Summer 2023
- £300 – Second Cost of Living Payment – during Autumn 2023
- £300 – Pensioner Payment – during Winter 2023/4
- £299 – Third Cost of Living Payment – during Spring 2024
Those who are eligible will receive the payment automatically with no need to apply. Those who are eligible for any Cost of Living payments and receive tax credits with no other means-tested benefits will receive payment from HMRC shortly after DWP payments are issued.
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