The first 2023/24 Cost of Living Payment has been announced and will be paid automatically between 25th April and 17th May.
The £301 payment will be sent out automatically and directly to recipients, meaning those eligible do not need to apply or do anything to receive it.
The payment reference for bank accounts will be DWP COLP, along with the claimant’s National Insurance number.
This is the first of three payments totalling up to £900 for those eligible and on means tested benefits, such as Universal Credit or Pension Credit, in 2023/24.
There will also be further payments worth £150 for eligible disabled people and £300 for pensioners due later this year, meaning the most vulnerable can receive up to £1,350 in direct payments. The full list of benefit recipients that qualify for the upcoming Cost of Living payment are those who receive:
· Universal Credit;
· Income-based Jobseekers Allowance;
· Income-related Employment and Support Allowance;
· Income Support;
· Working Tax Credit;
· Child Tax Credit;
· Pension Credit
The qualifying period for this payment is between 26 January and 25 February 2023.
The DWP is also encouraging low-income pensioners not already getting Pension Credit to check their eligibility, as they can still qualify for the £301 Cost of Living Payment if they make a successful backdated Pension Credit application by 19 May. You can find more information here https://www.gov.uk/pension-credit/how-to-claim
https://www.gov.uk/guidance/cost-of-living-payment
