First rollout of Cost of Living Payments hits bank accounts

MORE than seven million households across the UK have been paid the first £301 Cost of Living Payment.

According to the Department of Work and Pensions (DWP) the vast majority of eligible households have received the support in just eight days of the rollout starting, with the small number of payments outstanding to be made by May 17.

The payment is the first of three Cost of Living Payments being made this year and the next.

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.”

Jeremy Hunt, Chancellor of the Exchequer, added: “We know the impact that rising prices are having on families, which is why we are providing significant support to millions through these direct cash payments.

"This is alongside other support, including holding down energy bills, uplifting benefits and the state pension by 10 per cent, and increasing the National Living Wage by a record amount.

“The single best way to ease cost of living pressures is to bear down on inflation. We are on track to halve it this year, laying the foundation for the long-term growth needed to improve everyone’s living standards.”

UK Government Minister for Scotland John Lamont commented: “The payments made this past week to almost 700,000 low-income households across Scotland builds on the extensive cost of living support the UK Government has already delivered.

“We’re continuing to help the most vulnerable and there’s more to come for eligible disabled people and pensioners later this year, along with further measures to deliver on our five priorities, including halving inflation and growing the economy."

The Cost of Living Payments, spread across 2023/24, are worth up to £900 for those on means-tested benefits. The next payment for those on means-tested benefits is due in the autumn, with the third instalment due next spring.

These are accompanied by a £150 payment for people on eligible disability benefits this summer, and a £300 payment to top up Winter Fuel Payments for pensioners at the end of 2023 – meaning some will receive up to £1350.

This makes up part of the government’s cost of living support – now worth an average of £3300 per household over this year and last.

People will be eligible for the £301 Cost of Living Payment if they have been entitled to a payment for one of seven benefits between January 26 and February 25, 2023.The eligible benefits are: Universal Credit; Pension Credit; Income-based Jobseekers Allowance; Income-related Employment and Support Allowance; Income Support; Working Tax Credit; Child Tax Credit.

The DWP encourages anyone who thinks they may be eligible for a qualifying benefit to use a gov.uk benefits calculator to check their entitlement. In particular, low-income pensioners should check their eligibility for Pension Credit, as they may still be able to receive the £301 Cost of Living Payment, and subsequent payments, if they make a successful backdated application by May 19, 2023.

The small number of payments outstanding will continue to be made between now and May 17, and anyone eligible still waiting for a payment does not need to contact the Department for Work and Pensions (DWP) before then.

After this date, if someone thinks they may be missing a payment they are entitled to a form can be filled out on the gov.uk website to make a claim.