With the cost of living rising at nearly the fastest rate in 40 years, the past couple of years have been a challenging time for many households across the UK.

What is being paid?

Cost of Living Payments

Cost of Living Payments have been rolled out to help with additional costs. None of the Cost of Living Payments are taxed and it is possible to receive more than one, depending on your circumstances.

There are three variations of this payment:

Cost of Living Payment for those on means tested benefits

A Cost of Living Payment is available for people on means tested benefits, such as Universal Credit and Child Tax Credit.

If you are eligible, the first payment of £301 should have been paid between 25 April and 17 May 2023, with a follow up payment of a similar amount being rolled out between 31 October – 19 November 2023.

The third and final payment of £299 is expected to be paid between 6 February – 22 February 2024 for most eligible people.

Cost of Living Payment for those on disability benefits

It’s estimated that a disabled person pays around £600 per month in additional costs compared to a non-disabled counterpart, and this has been further heightened by the cost-of-living crisis.

To help towards this, people receiving ‘extra cost’ disability payments, such as Disability Living Allowance and Personal Independence Payment, are entitled to a £150 Cost of Living Payment. This payment was rolled out between June and July 2023.

Cost of Living Payment for pensioners

People of pension age who also receive the Winter Fuel Payment are eligible for a Cost of Living Payment between £150-£300. These payments began in November 2023.

To find out more about some of the other financial schemes available right now – CLICK HERE