The DWP has confirmed when the final cost-of-living payment will drop into the bank accounts of millions of people.
It is the final of three means-tested cost-of-living payments being made over 2023/24, worth up to £900 in total. And after the festive period many will be looking forward to the money arriving in their bank accounts.
Around eight million eligible households across the UK will receive the £299 cost-of-living payment in February. The payment will be made to people on eligible means-tested benefits between February 6 and 22 and is part of a wider support package for households.
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The first instalment of £301 was made in April and May this year, followed by a second £300 payment in October and November.
The £299 payment in February 2024 will be sent automatically, so eligible people do not need to apply or take any action to receive it. People are also being warned to watch out for any scam messages about cost-of-living payments purporting to be from government bodies.
The government said the extra cash is to support low-income families on means-tested benefits with financial pressures, as households struggle to cope with soaring living costs. The February payment is the last one and the government has not announced plans for any further payments after that.
Mel Stride, Secretary of State for Work and Pensions, said: ”We will always protect the most vulnerable, while ensuring fairness for the taxpayer.
“We know that the best way to secure long-term financial security is through employment, so we’re rolling out the next generation of welfare reforms to put thousands more people on a pathway off benefits and into work.”
Chancellor Jeremy Hunt said: “Inflation has halved, but I know some families are particularly vulnerable to cost-of-living pressures, which is why these payments are so important.”
The Department for Work and Pensions (DWP) is also encouraging low-income pensioners who are not already receiving Pension Credit to check their eligibility, as they could still qualify for the cost-of-living payment in February.
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