Cost-of-living payments: What are they, who gets them, the exact date

Millions of British citizens will soon receive the next installment of the cost of living payment. The government will hand over to them a nice money boost after a busy and expensive Christmas. The Department for Work and Pensions (DWP) has confirmed the date. The government paid the first installment in April and May, while the second would have been issued around October and November. Now the third payment will be made between February 6-22, 2024.

List of benefits

• Universal Credit
• Income-based Jobseekers’ Allowance
• Income-related Employment and Support Allowance
• Income Support
• Pension Credit
• Child Tax Credit
• Working Tax Credit

If a person receives the latter two, he will be paid the GBP299 by HMRC, but the rest will receive it from DWP. In such a case he must have received one of the listed benefits between November 13 and December 12.

Cost of living payment

£900 will be paid in total in three installments. One was paid in spring, one in November, and the third is due in February to households on means-tested benefits:

£300 for pensioner households in the winter will be paid

£150 will be paid to people on certain disability benefits has been paid

Disabled people to get

About six million people on the following disability benefits have received another £150:

• Disability living allowance
• Personal independence payment
• Attendance allowance
• Scottish disability payments
• Armed Forces independence payment
• Constant attendance allowance
• War pension mobility supplement
• Those payments were made between 20 June and 4 July.

Code for payment

British citizens should look out for specific codes on their statements which will be next to their National Insurance number – either DWP COL or HMRC COLS.The payments will automatically be delivered to banks and are due to hit accounts between February 6 and February 22, 2024.

Government claims

Talking to ‘The Star’, Secretary of State for Work and Pensions Mel Stride said, “We’ve delivered on our promise to halve inflation, putting money back in people’s pockets, while also providing millions of households with unprecedented financial support to ease the cost of living pressures.”

FAQs:

When the British citizens will get the next installment of the cost of living payment?
The UK government paid the first installment in April and May, while the second would have been issued around October and November. Now the third payment will be made between February 6-22, 2024.

What the government has claimed on the cost of living payment?
Secretary of State for Work and Pensions Mel Stride said that the government has delivered on the promise to halve inflation, putting money back in people’s pockets, while also providing millions of households with unprecedented financial support to ease cost of living pressures.