Millions of households across Britain are set to receive a welcome financial boost this month as the Department for Work and Pensions (DWP) begins distributing the second £300 Cost of Living Payment.
The support forms part of a broader £900 support package designed to help vulnerable families navigate the ongoing cost of living crisis. This marks the second of three scheduled payments, with the final instalment due in spring 2024.
Who Qualifies for the Payment?
Eligibility for the £300 payment is automatic for those receiving certain means-tested benefits. If you claim any of the following, you should receive the payment:
- Universal Credit
- Income-based Jobseeker's Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Working Tax Credit
- Child Tax Credit
The payment will be made directly into the same bank account where you normally receive your benefits.
Payment Schedule and What to Expect
The DWP has confirmed that payments will be made between 31st October and 19th November 2023 for most eligible households.
For those who receive Tax Credits only and no other DWP benefits, the payment window is slightly later, running from 10th to 19th November 2023.
The payment reference will appear on bank statements as 'DWP COL' followed by your National Insurance number, making it easily identifiable.
Further Support Available
This payment comes alongside other government support measures, including:
- The £150 Disability Cost of Living Payment for those on eligible disability benefits
- Winter Fuel Payments for pensioners
- The final £299 Cost of Living Payment scheduled for spring 2024
Many households will also benefit from the £150 Warm Home Discount if they meet the criteria.
If you believe you should have received a payment but haven't seen it in your account by the end of the payment window, the DWP advises waiting until after 20th November before contacting them, as some payments may take longer to process.
