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From today until 17th May, millions of households across the UK will be receiving the £301 first round of Cost-of-Living payments.

Following the initial £650 payment received by more than eight million people last year, the Government are providing a further 0 split across three instalments to those that qualify, to help with the rising cost of living.

Who qualifies?

To qualify for the Cost-of-Living payments, you’ll need to be receiving benefit payments between 26th January and 25th February 2023, for one of the following:

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

If any of these apply to you, you don’t need to do anything – the money will be paid directly into your bank account with a payment reference of ‘DWP COLP’.

There will be additional payments of £150 for those with a registered disability and £300 for pensioners later in the year.

There are calls for low-income pensioners that don’t already receive Pension Credit to check if they’re able to. If they are and they apply for Pension Credit by 19th May, they may be eligible for the first Cost of Living payment.

Timetable of payments

Exact dates will be announced nearer the time, but these are the current windows the Government has provided for further payments:

26th April – 17th May

First Cost of Living Payment – £301

Summer 2023
Disability Payment – £150

Autumn 2023
Second Cost of Living Payment – £300

Winter 2023/4
Pensioner Payment – £300

Spring 2024
Third Cost of Living Payment – £299

We’re here to help!

Check out BudgetSmart for more info on maximising your income and use our Benefits Calculator to find out if you’re missing out on any additional income – it’s all free!

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