Martin Lewis has made a prediction for when millions of households across the country will receive the £900 cost of living payment.
The new wave of payments was announced by Chancellor Jeremy Hunt during his Autumn Statement in the House of Commons last week. The government also confirmed that the payment will be available to those on means-tested benefits while the payments will be spread out across multiple instalments.
It comes after millions received a total cost of living payment of £650 to help support them through the worsening cost of living crisis this year. People first began receiving their payments in July while the second half was paid throughout October and November, the Mirror reports.
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While many will be eager to know when they could receive the next cost of living payments, the government is yet to announce a date. Despite this, money-saving expert Martin Lewis has put his prediction forward for when the payments will come rolling in.
In a video he posted online, Mr Lewis said: "As for exactly when they'll be paid, I don't know yet. My guess - and it's only a guess - is they will be put in place in time for next winter. So those payments will come some time probably around October/September, and the cost of living payment will probably come in two tranches as it did this year."
After Mr Hunt made his Autumn Statement, Mr Lewis praised many of the announcements, tweeting: "I am very pleased that both benefits and the state pension are being increased by the 10.1% September inflation rate. It only happens from next April, and it will still be hard for many, but if it was less than this it would've been devastating."
However, he warned that those on middle income who aren't eligible for the £900 payment will be "squeezed". Speaking to the World at One show on BBC Radio 4, he said: "They won't get any help apart from the Energy Price Guarantee."
According to the DWP, if you receive the following benefits then you may be eligible for the cost of living payments:
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Universal Credit
- Working Tax Credit
- Child Tax Credit
It has not yet been announced what the eligibility dates for the £900 payments will be.
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