MILLIONS of households entitled to cost of living payments worth up to £1,350 should check their bank statements.
The cash is part of a support package from the government to help households struggling to make ends meet.
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The cash boost is available to anyone claiming Universal Credit and certain other means-tested benefits, with other payments for pensioners and those with disabilities too.
Those eligible should have been receiving payments directly into their bank accounts, and another is due next week.
There are three different types of cash support depending on your circumstances and eligibility, they are:
- A cost of living payment worth up to £900
- A disability cost of living payment worth £150
- A pensioner cost of living payment (if you are entitled to a winter fuel payment) worth up to £300
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In total, it’s worth £1,350, though not everyone will get all the payments as eligibility varies.
All of the payments are tax-free and do not affect the benefits or tax credits you get.
We have put together a full list of the exact codes to look for on your bank statement and the dates the payments should have been made.
We also explain what you can do if you realise you are missing a payment.
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Cost of living – up to £900
The cost of living payments are additional cash payments from the government paid out to recipients of certain benefits and tax credits across the UK.
We have put together the full list of benefits that qualify people here.
The payments are made in three installments of £301, £300 and £299.
The first two payments were made in May and September of 2023 and the final payment of £299 is due to go out next week.
What you need to look out for on your bank statement to spot the payment is your national insurance number followed by either DWP COL or HMRC COLS.
Disability cost of living – £150
The disability cost of living payment was paid to six million people with disabilities last summer.
You had to be receiving certain benefits to qualify for this payment and we have listed them here.
If you want to make sure that you have not missed out on the disability cost of living payment you need to look at your bank statement.
The payment will show up as your national insurance number followed by DWP COL and the payment was made around June 2023.
Pensioner cost of living – up to £300
A £300 pensioner cost of living payment was also made during the winter.
If you were entitled to a Winter Fuel Payment for Winter 2023 to 2024, you will get the extra cash paid with your normal payment.
The last day of automatic payments was on January 26, so you need to take action now if you haven’t received yours.
The code to look out for if you live in Great Britain is your national insurance number followed by DWP WFP.
If you live in Northern Ireland it is slightly different and the code to spot is your national insurance number followed by DFC WFP.
What can I do if I have not received my payment?
If you think that you should have received a cost of living payment but cannot see it on your bank statement you can report it.
To report a missing payment you can do so on the government’s website, and you will need your National Insurance number to hand.
The DWP has a specific form set to to report missing cost of living payments.
Before reporting a missing payment you should make sure you check your bank, building society, or credit union account.
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You must also not report the same missing payment more than once.
Meanwhile, we reveal the full list of benefits due including the final £299 cost of living payment.
