Martin Lewis explains exact date of cost of living payment for millions on Universal Credit and benefits
MARTIN Lewis has explained the exact date millions of people on Universal Credit and benefits will get the £324 cost of living payment.
As the cost of living continues to skyrocket, it’s vital that households get all the support they are entitled to.
The first instalment of the cost of living payment, worth £326, was paid from July, with those on tax credits paid theirs in September.
The next payment, worth £324 will land automatically in your account if you are eligible – so you don’t need to do anything to get the help.
In the latest episode of The Martin Lewis Money Show on ITV, the MoneySavingExpert founder explained when the direct payment will be made.
He said: “For most people, they [the payments] will be paid between November 8 and 23.
READ MORE IN MONEY
“Only people who are on working tax credit or child tax credit and don’t get any other benefits, they may get it a little bit later.
“To be eligible for this, you have to be claiming one of the eligible benefits between August 26 and September 25 and you’re due it even if you didn’t get the first payment.”
Cost of living payments are tax-free, do not count towards the benefit cap and do not affect the amount you usually get from benefits.
The payment will come from HMRC.
Most read in Money
And pensioners are also set to get a helping hand with an extra £300 one-off payment during the winter months too.
Martin said: “If there is a state pensioner living in a household between September 19 and 25 – that’s the eligibility date – then there will be £300 paid to that household.
“It will be automatic and will be paid on top of the Winter Fuel payment.”
The Winter Fuel Payment – which is worth between £100 and £300 for those over state pension age.
The extra £300 boost will be paid on top of this support which means some eligible households will see their payments double this winter.
You can check out if you are eligible for the Winter Fuel payment in our explainer.
Who’s eligible for the £650 cost of living payment?
The £650 cash boost was announced by ex-Chancellor Rishi Sunak as part of a package of measures to help people through the current crisis.
The first payment of £326 has already been made to the following eligible people:
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Universal Credit
Those on tax credits got the first part of the payment in September.
There are two types of tax credits:
- Child Tax Credit
- Working Tax Credit
Who is eligible for second chunk worth £324?
To be eligible for the second DWP payment, those eligible not claiming tax-credits must have been entitled to a payment (or later found to be entitled to a payment) of either:
- Universal Credit for an assessment period that ended in the period August 26, 2022 to September 25, 2022
- Income-based JSA, income-related ESA, Income Support or Pension Credit for any day in the period August 26 2022 to September 25 2022
For those on tax-credits, you must have been entitled, or later found to be entitled to a tax credit payment, or annual award of at least £26, between August 26 and September 25 this year.
What other help is coming?
There’s the £400 energy bill rebate, which is there to help with soaring energy bills.
From the start of October, households began to receive the discount.
A number of energy suppliers, including British Gas, E.ON, EDF and Shell Energy have confirmed how they’ll pay their customers.
And pensioners are also set to get a helping hand with an extra £300 one-off payment during the winter months too.
The amount you get will depend on what you’re eligible for and could be more or less than that.
The most in need could up to £1,500 through the cost of living handouts.
A £300 one-off “Pensioner Cost of Living Payment” will be paid out to eight million pensioner households.
It will be given to those who already get the Winter Fuel Payment – which is worth between £100 and £300 for those over state pension age.
Read More on The Sun
The extra £300 boost will be paid on top of this support which means some eligible households will see their payments double this winter.
You can check out if you are eligible for the Winter Fuel payment in our explainer.