DWP issues cost of living payment update on how many will get cash in 2023

Millions of benefits claimants will be getting a £900 cost of living payment from the Department of Work and Pensions throughout this year and next. The DWP has confirmed that the payment will be split into three instalments - with the first payment of £301 to be made in the spring.

An exact date for when the first payment of £301 will hit bank accounts has not yet been confirmed. A second payment of £300 is due in autumn, and a third payment of £299 is expected to be paid during spring 2024. Those who are eligible for the payments include people on Universal Credit, Income Support and Tax Credits.

Work and Pensions Secretary, Mel Stride said: “These direct payments will help people right across the UK over this year and the start of the next, as we continue to provide consistent, targeted and substantial support for the most vulnerable. Who is eligible for payments? There are several benefits that could make claimants eligible for the £301 Cost of Living Payment, such as:The £300 Pensioner Cost of Living Payment will be paid to all households in receipt of Winter Fuel Payments, in the same way as 2022/23 payments were made.

Source: Loan Digest (loandigest.net)

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