Millions of struggling households across Britain are set to receive a crucial financial boost as the final Cost of Living Payment of £299 lands in bank accounts within weeks. The Department for Work and Pensions has confirmed the payment schedule for this essential support during the ongoing cost of living crisis.
When Exactly Will the Money Arrive?
The substantial £299 payment will be automatically transferred to eligible recipients between Tuesday, February 6, 2024 and Thursday, February 22, 2024. This marks the third and final instalment of the government's £900 support package for vulnerable households.
Who Qualifies for This Vital Support?
You're eligible to receive the full £299 payment if you were entitled to any of the following benefits between November 13 and December 12, 2023:
- Universal Credit
- Income-based Jobseeker's Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Working Tax Credit
- Child Tax Credit
Important Eligibility Details
For most claimants, the DWP will assess your eligibility during the specific assessment period that ended between November 13 and December 12, 2023. Those receiving Tax Credits exclusively will be processed by HMRC shortly after the main DWP payments.
Previous Payments in the Support Package
This final payment completes the three-part support scheme that has provided substantial relief to households throughout 2023/24:
- £301 - Paid between April 25 and May 17, 2023
- £300 - Paid between October 31 and November 19, 2023
- £299 - Scheduled for February 6-22, 2024
No Application Required
Eligible recipients do not need to apply for this payment. The funds will be transferred automatically into the same bank account where you normally receive your benefit payments. The payment reference will include your National Insurance number followed by 'DWP COL'.
Additional Support Available
For those not qualifying for these specific payments, alternative support remains accessible through the Household Support Fund distributed by local councils and the Warm Home Discount Scheme providing £150 off electricity bills for qualifying households.
This final Cost of Living Payment arrives as many families continue to face significant financial pressures from high energy bills, food costs, and other essential expenses during the winter months.
