Latest government funding for cost of living

Preview Url
Preview Url


For those millions of households on a low income, eligible to receive financial support from the Government’s Cost of Living scheme, a second payment of £300 should be received between 31 October 2023 and 19 November 2023.  

To be eligible for the second Cost of Living Payment, individuals need to have been in receipt of at least one of the following benefits, between 18 August 2023 and 17 September 2023: 

  • Universal Credit 
  • Income-based Jobseekers Allowance 
  • Income-related Employment and Support Allowance 
  • Income Support 
  • Pension Credit 
  • Child Tax Credit 
  • Working Tax Credit 

If eligible, £300 will be paid automatically and directly to the benefit recipient so there is no need to apply. However in order to check if the money has been received, the bank account payment reference for the second Cost of Living Payment will be the benefit recipient’s National Insurance Number, followed by ‘DWP COL’ or, if Tax Credit is being received ‘HMRC COLS’. 

The £300 payment will be tax free and not have any impact on existing benefit entitlements. A third Cost of Living Payment is expected in Spring of 2024 although eligibility criteria and payment dates for this, have not yet been announced. 

Pensioners on a low income who are not already in receipt of Pension Credit are being encouraged by the Government to check their eligibility for it. Doing so could not only increase their income on an ongoing basis (but also, due to backdating rules applicable to Pension Credit), allow them to qualify for the second Cost of Living Payment, along with the third in Spring 2024 and an additional £300 due later in the year.  

It is important to be aware of scams targeting Cost of Living Payments. Therefore, if you are contacted by someone about the scheme, alleging to be from the DWP or HMRC, it may be a scam. You can find advice on spotting scams by visiting the GOV.UK website and searching for ‘phishing and scams’ 

We are here to help - Money & Benefits Advice service  
We offer a free, confidential and impartial Money & Benefits Advice service to all residents and staff. Advisers can assist with benefit checks, updating claims and identifying other forms of support that may be available. To speak to an adviser or book and appointment please contact JRHT’s Money and Benefit Advice service on 0800 5870211 or at