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The Government has announced that millions of households in the UK will receive extra help towards the rising Cost of living in 2023/24.
Payments of up to £1,350 could be claimed – this amount is dependent on the individual’s circumstances.
The payments are made up of:
A £900 Cost of Living payment broken down into three instalments, for people claiming one or more of the following benefits:
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Universal Credit
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Income-based Jobseekers Allowance
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Income-related Employment and Support Allowance
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Income Support
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Working Tax Credit
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Child Tax Credit
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Pension Credit
Support for people living with a disability and older people
A one-off £150 Cost of Living payment for disabled people receiving a qualifying benefit. These have not yet been confirmed. However, a similar Cost of Living payment in 2022/23 was paid to claimants in receipt of the following benefits:
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Attendance Allowance
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Constant Attendance Allowance
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Disability Living Allowance for adults
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Disability Living Allowance for children
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Personal Independence Payment
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Armed Forces Independence Payment
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War Pension Mobility Supplement
A one-off £300 Cost of Living payment for pensioners receiving a qualifying benefit. Again these have not yet been confirmed. However, a similar Cost of Living Payment in 2022/23 was paid to claimants in receipt of the Winter Fuel Payment.
The Cost of Living payments for 2023/24 will be tax-free and not have any impact on existing benefit entitlements. If a household is eligible for one or more of these, the money will be paid automatically into the claimant’s bank account. There will be no need to apply.
When will payments be made
The Government has not yet confirmed when the Cost of Living payments will be paid. However, the following estimated timescales have been released:
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Spring 2023: First Cost of Living Payment - £301
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Summer 2023: Disability Cost of Living Payment – £150
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Autumn 2023: Second Cost of Living Payment – £300
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Winter 2023/24: Pensioner Cost of Living Payment – £300
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Spring 2024: Third Cost of Living Payment – £299
Although the Cost of Living payments in 2022/23 and 2023/24 will inevitably help millions of households across the UK during the current financial crisis, many people will continue to struggle with managing their budget.
Free, confidential and quality Money and Benefits Service
For that reason, we offer a free, confidential and quality Money and Benefits Advice service to all residents and staff.
Advisers can assist with benefit checks, updating claims, debt options and identifying other forms of support that may be available.
To speak to an adviser or book and appointment please contact our Money and Benefit Advice service on 0800 587 0211 or at mba@jrht.org.uk.