Exact date millions of Brits will receive cost of living bonus worth hundreds
Households are set to receive the next instalment of the cost of living payment soon.
Millions of Brits will be handed a nice money boost after a busy and expensive Christmas. The Department for Work and Pensions (DWP) has since confirmed the date.
People can expect the third instalment, worth £299, in their bank accounts in the New Year. UK residents would have already received two payments.
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The first round was paid in April and May, while the second would have been issued around October and November. Now the third payments are expected between February 6-22 next year.
Millions of people will be eligible for the money. The full list of benefits it applies to are:
- Universal Credit
- Income-based Jobseekers' Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Child Tax Credit
- Working Tax Credit
And if you receive the latter two, then you will be paid the £299 by HMRC – but the rest will receive it from DWP. You will have had to receive one of the listed benefits between November 13 and December 12.
If you were entitled to welfare payments between these dates you're also able to get your hands on the cost of living payments.
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Brits should look out for specific codes on their statements which will be next to their National Insurance number – either DWP COL or HMRC COLS.
The payments – which will automatically be delivered into banks – are due to hit accounts between February 6 and February 22 next year.
Mel Stride, Secretary of State for Work and Pensions, said: "We've delivered on our promise to halve inflation, putting money back in people's pockets, while also providing millions of households with unprecedented financial support to ease cost of living pressures.
"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."
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