Money Saving Expert Martin Lewis has set out when he expects the three DWP cost of living payments to be made in 2023 and 2024. Around 8milluion people are to get £900 to help towards the cost of living in three payments, which will all be different amounts.
Martoin has also explained why the money is not just being divided into three equal £300 payments.
Earlier this week the DWP said that eligible claimants will receive the first two payments this spring and autumn with the final lump sum of cash in spring 2024, reports The Mirror. Martoin has now said he believes the payment dates would likely fall after April 6 2023, in October or November of 2023, and before the tax year ends in April 2024.
In his tweet to his 21million followers, the Martin said: "UPDATE: On the £900 cost of living payment for 8m on means-tested benefits. It'll come in three 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)"
In a follow-up tweet, Martin explained why the Government is paying the £900 payment in different amounts, rather than paying the same each time.
He said: "PS if you're wondering why the different amounts. It so they will be able to pinpoint which payment you've had and which not more easily if there are problems (which is actually quite clever)."
The cost of living payments will go to about eight million people who claim means-tested benefits.
There will also be a separate £150 for over six million disabled people and £300 for more than eight million pensioners on top of their normal Winter Fuel Payments.
Martin also highlighted this in his thread and also noted that pensioners claiming Pension Credit would also receive the full £900 payment alongside their £300 uplift.
