Cost of living payment: When will the next £300 instalment be paid and who is eligible for it?
Millions of Brits started receiving the first cost of living payment of 2023 last month - but when will the next instalment be paid, how much is it worth and who is eligible? Here’s what you need to know.
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The first cost of living payments of 2023 started to hit bank accounts in April in what was a welcome cash boost for millions of Brits amid the ongoing cost of living crisis. Those eligible and claiming certain means-tested benefits started to receive the £301 payment from April 25.
The instalment was the the first in the series of three cost of living payments, totalling £900. More help is on the way for households, including pensioner households as well as those claiming certain disability benefits, as bills and food costs continue to rocket.
The second cost of living payment of £300 will also be made later this year. Here’s everything you need to know including dates and who is eligible.
When will the next cost of living payment be paid?
The next cost of living payment due to be sent out will be £150 - but only to those claiming certain means-tested benefits. An exact date for this payment has not yet been finalised, but it is expected that the cash boost will arrive in summer 2023.
More six million people received the disability cost of living payment last year. Those who claim the following benefits during the qualifying period will be eligible:
- Disability Living Allowance
- Personal Independence Payment
- Attendance Allowance
- Scottish Disability Benefits
- Armed Forces Independence Payment
- Constant Attendance Allowance
- War Pension Mobility Supplement
The qualifying date for when you need to be claiming these benefits by has also not yet been confirmed. After this, the next payment that will be sent out will be the second instalment of the £900 cost of living payment, worth £300.
The second payment is due to be sent in autumn 2023, while the third payment, worth £299, will hit bank accounts in spring 2024.
To be eligible for these payments, you need to be claiming the following benefits during the qualifying period:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Working Tax Credit
- Child Tax Credit
The qualifying period to claim the second and third instalments of the cost of living payment has also not yet been confirmed, but you may become eligible for these payments even if you weren’t claiming benefits in time for the first one.
Pensioner households in receipt of the Winter Fuel Payment will also get an extra £300 this winter. The boost is worth up to £300, depending on your living arrangements and circumstances.
For more information, check the Gov.uk website.