Many of the lowest-income households will get new Cost of Living Payments from the Government in the next few weeks
Cost of Living payments will go towards people on benefitsIt is the first of three payments totalling up to £900 for people who are eligible and who already get means-tested benefits, such as Universal Credit or Pension Credit, in 2023/24.There will also be further payments worth £150 for eligible people with disabilities and £300 for pensioners later this year. This means that some people will receive up to £1,350 in direct payments.
The payment reference for bank accounts will be DWP COLP, along with the claimant’s National Insurance number. To be eligible for the Cost of Living Payment, people need to have been entitled to a payment for one of the benefits between January 26 and February 25, or payment for an assessment period ending between these dates.
Those who are eligible for the £301 Cost of Living Payment solely through tax credits, and are not eligible through DWP means-tested benefits, will be paid by HMRC shortly after DWP payments begin.
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