MILLIONS of Brits are set to get a cash boost worth up to £522 including Universal Credit and Cost of Living cash.
June is a good month for many families and households who might be struggling to keep on top of their finances – here are the details of what payments you can expect and when.
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Millions of households with disabilities are set to receive a cost-of-living payment this month, along with hundreds of thousands of families who will see a significant boost to their childcare payments.
June also brings good news for eligible Nationwide building society customers who will also see £100 paid into their account.
To make it easier for you, we have outlined the exact dates you can expect to receive these payments, how to know if you are eligible, and how much you can expect to receive.
Cost of living payment
Six million households with disabilities will get their £150 cost of living payment paid in the forthcoming weeks.
The tax-free cash will be paid directly into bank accounts between June 20 and July 4.
You have to be receiving certain benefits to qualify for the £150 cost of living payment. These are:
- Disability Living Allowance
- Personal Independence Payment
- Attendance Allowance
- Scottish Disability Benefits (Adult Disability Payment and Child Disability Payment)
- Armed Forces Independence Payment
- Constant Attendance Allowance
- War Pension Mobility Supplement
While most people should see the cash land in their accounts by July 4 a small number will be paid after that date.
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This will be the case if you were awaiting confirmation of your eligibility for the qualifying benefits on April 1.
If you are eligible the £150 payment will be paid straight into your bank account – you don’t have to apply.
The code to spot in your statement will be your national insurance number followed by “DWP COL”.
The £150 comes as part of a bumper package of support announced by the Government including £900 payment for millions on certain benefits including Universal Credit and £150-300 top-up for millions of pensioners.
The £900 payment has been split into three installments worth £301, £300 and £299.
The first should have already been paid between April 25 and May 17 while the second and third will be paid in autumn 2023 and spring 2024.
The £150-£300 payment will be made to millions of pensioners from November.
Boost to childcare payments
This month is good news for hundreds of thousands of parents on Universal Credit who are set to get a £522 boost to childcare payments.
The same families will also benefit from a change that will see all childcare costs paid upfront.
At the moment parents on Universal Credit can claim back 85% of their childcare costs – but they have to pay upfront first.
From Wednesday, June 28 all payments will be made upfront and families will benefit from a payment boost.
The maximum amount of cash parents can claim will also go up from £646 to £951 for one child, and from £1,108 to £1,630 for two – an increase of just under 50%.
The government will also help eligible parents cover the costs for the first month’s childcare when they enter work or significantly increase their hours.
The change to Universal Credit childcare payments are changing to help get more parents back to work.
Nationwide Building Society payment
Around 3.4million Nationwide customers are in line for a £100 payment directly into their bank accounts this month.
To be eligible, members will need to hold a qualifying current account, plus either a qualifying saving or mortgage product.
You will need to have held the account on March 31 and still have the account open in June.
Payments will be sent out automatically to account holders between June 13 and June 30.
You will need to look out for the code “Nationwide Fairer Share Payment” on your bank statement.
The following current accounts will qualify you for the payment:
- FlexPlus
- FlexOne
- FlexStudent
- FlexGraduate
- FlexAccount
- FlexDirect
- FlexBasic
If you have one of the current accounts above and at least £100 in total in one or more personal savings accounts or cash ISAs, in March then you should be eligible for the payment.
Plus, if you owed at least £100 on your Nationwide residential mortgage on March 31, you’ll qualify for the windfall.
And it’s good news if you have a joint current account, savings or mortgage because you will both qualify separately.
This means you will get a total of £200.
If you’re still unsure whether you qualify, there is an eligibility checker on the Nationwide website.
