Do I qualify for the £300 Cost of Living payment?

The cost of living crisis has been a constant struggle for many families in the UK, and it's not about to get any easier. Despite the upcoming drop in energy bills, prices of food and other essentials remain high.

Thankfully, the government is taking action. In 2023/24, a series of Cost of Living Payments will be rolled out to help those in need. The first one was sent out earlier this year, and it's already proving to be a lifeline for many.

But who exactly is eligible for the next £300 cost of living payment and when will it arrive? Work and Pensions Secretary Mel Stride has said: ‘The best way we can boost bank balances is by bearing down on inflation, but, as we get there, we are ensuring the most vulnerable households are cushioned from high prices with a further Cost of Living Payment.’

To be eligible for the Cost of Living Payment, you must be receiving at least one of the following benefits: Universal Credit, Income-based Jobseekers’ Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit, or Pension Credit. The money will be sent directly into your bank account, with no need to apply for it. However, those who are only claiming New Style ESA, contributory ESA, or New Style JSA are not eligible.

The first payment, of £301, was sent out between late April and mid May. The second Cost of Living Payment, of £300, will be made between October 31 and November 19, and those who are only claiming tax credits will receive their £300 from HMRC between November 10 and 19. Pensioners will also be receiving an additional £150 or £300 payment later in 2023.

It's important to note that you should not respond to any messages asking you to apply for the Cost of Living Payment. If you receive any suspicious emails, texts, or phone calls asking you to do this, it's best to ignore them. It's also wise to avoid clicking on any links or revealing your personal information.

The Cost of Living Payment is a great way to help those who are struggling with the high cost of living. Be sure to find out if you're eligible to receive this payment, and never respond to any messages asking you to apply.

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