Around eight million people are set to get the final £299 cost of living payment in the new year.
The last installment of the £900 Government cost of living support is being paid out to eligible claimants by the Department for Work and Pensions (DWP).
The money is meant to help with the high cost of living, with households paying inflated costs for food, fuel, housing and energy bills.
Households who get qualifying benefits, such as Universal Credit and Income support, will be eligible for the payment.
So, when is the payment and are you eligible? Here is what you need to know.
Final payment: Around eight million people will get the last cost of living payment in 2024
When is the next cost of living payment?
The £299 cost of living payment will be paid between February 6 and February 22, 2024, despite initially being earmarked for spring next year.
People are warned to be alert for scam messages, especially during the period of time in question, relating to supposed cost of living bodies.
Who will get cost of living payments?
If you receive any of the following then you may be entitled to the free cash:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Pension Credit
The DWP is also encouraging any low-income pensioners not already receiving Pension Credit to check their eligibility, as they could still qualify for February’s cost of living payment.
How will I get payments?
Payments will be sent out automatically, directly to recipients’ bank accounts, with a reference of their National Insurance number followed by ‘DWP COL’.
For example, if your National Insurance number is JT 83 42 97B your payment will be visible under the reference ‘DWP COLP JT 83 42 97B’ on your statement.
Mel Stride, secretary of state for work and pensions, said: ‘We will always protect the most vulnerable, while ensuring fairness for the taxpayer.’
What if I do not get my payment?
If you believe you are due a cost of living payment, but do not get it, you can report this on the Gov.uk website.
If you do not receive it but think you should have, you will be able to report it missing from February 23.
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