Cost of Living Payment: Here's when households will receive their next £324 payment
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Over eight million families have already received the first Cost of Living Payment, worth £326, which was sent out from July 14 this year.
The second payment will automatically be paid into the bank accounts of those eligible in England, Scotland, Wales and Northern Ireland who receive a qualifying benefit, meaning they will not need to do anything to receive the money.
People should start receiving their payments from November 8 and continuing through to November 23.
Work and Pensions Secretary, Chloe Smith said: “Millions of families will soon see a £324 cash boost as part of our extensive £1,200 support package, helping to raise incomes and manage the rising cost of living.
“We understand that people are struggling which is why and we’re committed to supporting the most vulnerable households. That’s also why we are focused on driving growth and delivering quality public services so we can continue to support those in need through these challenging times while boosting opportunity for all.”
Chancellor of the Exchequer, Kwasi Kwarteng said: “We know that people have been worried about their bills ahead of this winter, which is why we’ve taken decisive action to hold down energy bills, saving the average household around £1,000 a year, and provided £1,200 of targeted support to the most vulnerable.
“Without our intervention, analysts were predicting that the average annual energy bill could have reached £6,500 next year. We were never going to let this happen.
“Our Growth Plan will also leave more money in people’s pockets and, over the longer term, help drive economic growth – the only way to permanently boost everyone’s living standards.”
The DWP will pay a small number of payments on November 8, with numbers increasing significantly from the 9th. Even if you are not on a qualifying DWP benefit you may still be eligible for the £324 payment as HMRC are also making payments to those who receive tax credits and no other eligible benefits.
These will be paid shortly after DWP payments and customers do not need to contact the government or apply for the payment at any stage.
This payment comes on top of extensive Government support with the cost of living this winter, including around six million disabled people having been paid a separate £150 Disability Cost of Living Payment, whilst over eight million pensioner households will receive an extra one-off £300 Winter Fuel Payment this year. This is in addition to an extension to the Household Support Fund, which is providing an extra £421 million for use between October and March to help vulnerable people with the essentials.
As well as this, a £150 Council Tax rebate was sent earlier this year to those in Council Tax bands A-D in England, creating a total of at least £1,200 in direct support for millions. A £400 reduction on energy bills is also being given to all domestic electricity customers over the coming months, and a new ‘Energy Price Guarantee’, which means from 1st October the average UK household will save at least £1,000 a year based on current energy prices.