To help with continuous rising bills, low-income households are now receiving the current cost-of-living allowance from the government.
Between now and May 17, eight million means-tested benefit claimants, including those on Universal Credit, should get the £301 instalment.
More nearly equivalent payments will be made in the autumn and next spring. Everything will be transferred automatically.
The payouts come at a time when food costs are rising at their quickest rate in 45 years.
The cost of a shopping trip has kept inflation – the pace at which prices rise – stubbornly high in the United Kingdom. The average household’s annual energy bill remains around £2,500, albeit all of these bills are predicted to fall later in the year.
How is it compensated?
The current £301 will be paid straight into the bank accounts of qualified recipients, with no need to file a claim.
For bank accounts, the payment reference will be the recipient’s National Insurance number, followed by DWP COL.
Those who qualify solely through tax credits will begin receiving their cost-of-living payment on May 2.
Furthermore, over six million people with impairments will receive an additional £150 during the summer. Over eight million seniors will receive an extra £300 next winter.
Am I eligible for the money?
You must be receiving one of the following benefits to be eligible for a payment: Universal Credit, Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit, or Pension Credit.
You must have been eligible for one of these benefits between January 26 and February 25, 2023, or payment for an assessment period concluding between these dates.
Low-income seniors who are qualified for but do not claim Pension Credit may still be eligible for the cost-of-living payment if they submit a successful backdated Pension Credit application by May 19.