Millions of people have been given the government's £301 cost of living payment so far. The Department for Work and Pensions (DWP) began sending out the money to millions of mean-tested benefit claimants last week.
The payment is part of a cost of living package worth £900 in total being rolled out between now and next spring in a bid to help those hardest hit by the cost of living crisis. The DWP confirmed that seven million households will have received the money by the end of Wednesday, May 3, since it began rolling it out last week. All payments are expected to be made by May 17.
The department has also explained that some groups may still qualify for the payment if they apply before an upcoming deadline. To get all the latest money-saving news straight to your inbox twice a week sign up here.
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I haven't received the money yet - how do I qualify?
Pension credit is a form of financial support that tops-up the income of people over the state pension age who fall below a minimum income threshold. It can be worth over £3,500 per year on average, the equivalent to £60 a week.
The DWP says that if eligible older people make a claim for pension credit before Friday, May 19, they will be able to backdate it by the maximum of three months, taking it to within the qualifying period for the £301 payment. However, it’s important to note that only successful applicants will receive the cost of living payment along with pension credit arrears. The most recent figures from DWP suggest that an estimated 850,000 eligible pensioners could be missing out on the additional financial support.
Who is eligible for the payment?
The £301 payment will be paid to eligible households receiving the following benefits:
- income-based jobseeker’s allowance (JSA)
- income-related employment and support allowance (ESA)
- Income support
- Pension credit
- Universal credit
- Child tax credit
- Working tax credit
The payment will be made separately from your benefit payments. You will not get a payment if you are only getting New Style ESA, contributory ESA, or New Style JSA. You can read more about the payment including which groups don't qualify here.
What other payments can I get?
As well as the £301 cost of living payment, there will be two further instalments in the autumn and next spring of £300 and £299 respectively. The dates for these have not yet been confirmed. There will also be a £150 disability cost of living payment in the summer and a £300 top-up to the usual winter fuel payment for 2023/24. You can find out more about these payments here.
Mel Stride, Secretary of State for Work and Pensions, said: “Paying more than seven million households £301 in a little over a week underlines our commitment to ensure those on the lowest income are protected from the worst of rising prices and give them peace of mind.
“With further payments due to be made later this year and in 2024, we will continue provide support to those who need it most while we tackle inflation and grow the economy.”
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