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HomeSleaford NewsThe Cost Of Living Payment To Hit Millions Of Bank Accounts

The Cost Of Living Payment To Hit Millions Of Bank Accounts

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Millions to get £301 cost of living cash over 23-day period to help with energy bills

 

The Government have announced that millions of people on qualifying benefits are set to receive their £301 cost of living payments from 25th April.

A total of £900 is being given to help to help with the cost of living crisis which will be paid out in three separate installments.

While some people will receive their cost of living payments on 25th April, others will have to wait. The Government have said that the roll out will take place between April 25 and May 17.

In order to receive the cost of living payment, you must be claiming certain means-tested benefits during a qualifying period.

 

Here is everything you need to know.

You need to be claiming one of the following means-tested benefits during the qualifying period to receive the cost of living payment.

    Universal Credit

    Income-based Jobseekers Allowance

    Income-related Employment and Support Allowance

    Income Support

    Pension Credit

 

When was the qualifying period?

The qualifying period to receive the cost of living payment is between January 26 and February 25, to receive the money.

 

How do I know when the £301 has hit my bank account?

The first cost of living payment will show as “DWP COLP” in your bank account

 

When will the next two payments be sent?

The Government have not revealed as yet the dates for the next two cost of living payments. It is believed that the payments could be released in summer 2023, and the third in spring 2024.

The cost of living payment has made a huge difference to people struggling with their energy bills. In 2022 the cost of living payment helped 17,100 people living in Boston and Skegness, while in London more than 1,224,000 received the cost of living payment.

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