£299 is being given to millions of families in the UK in the form of “Cost of Living Payment” in the year 2024 in spring. The government of the United Kingdom has taken this decision due to handled inflation so that the citizens of UK can be able to fulfill their daily needs. The government has given this tax-free payment to the public so that citizens can get help in meeting their household expenses.
So, with the help of this article, let’s know what the cost-of-living payment is, how does it work in UK, how much is the UK cost of living payment, what is the eligibility required to receive this payment, what is the third payment date of Cost-of-Living plan, when will the cost-of-living payment be given etc.
What is UK Cost of Living Payment
Cost of Living is a £299 payment which will be given by the UK Government to the eligible UK citizens. And this tax-free payment is for those individuals who were entitled to payments of income-related ESA, income-based JSA, income support or pension credit on any day between 18 August 2023 and 17 September 2023.
In simple words, cost of living is a benefit given by the UK Government to their disabled or low-income category citizens so that their life standard becomes better, and they can afford basic and regular needs of their life such as food, light, and bill payments etc.
Highlights of Cost of Living Third Payment
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Who is Eligible for Payment of Cost of Living In UK
Those who wish to avail of the Cost of Living Benefit need to know that there is no fixed eligibility to avail of this benefit but those who wish to apply for the Cost Living Payment are assessed by the UK Government. To avail the benefits of the scheme, it is necessary for the person to be clear in this assessment as with the help of this assessment the eligibility of the applicant will be checked.
Assessment dates were from 18 August to 17 September 2022. During this assessment, your income, pension, tax credit etc. were verified through this assessment. If you are found not cleared in the assessment or are not eligible for benefits, then you may also be eligible to have your payments refunded.
When will you get your Third Payment of CLP
The First installment of £301 was distributed between April and May to approx 8 million of UK Households. or second payment of £300 was distributed between 10 November to 19 November 2023.However, the UK Government has not yet disclosed any specific date. But it is expected that the Cost of Living Third Payment of £209 will be made in spring 2024. The Cost of Living payment will be directly deposited into the bank account of the eligible person.
What are the types of Cost-of-Living Payment 2023-2024
There are some types of Cost-of-Living payment in which different types of benefits are provided to you by the UK Government in the third payment of £299 in the upcoming spring 2024. The payments below come under cost living payment.
- Income Support
- Pension Credit
- Universal Credit
- Child Tac Credit
- Disability Living Allowance
- Attendance Allowance
- Personal Independence Payment
- War Pension Mobility Supplement
- Scottish Disability Benefits
- Pensioner cost of living Payment
- Cost of living payments
- Cold weather payments
- Household Support Fund
Report Your missing Cost of Living Payments
If you feel that you have not received any of cost-of-living payment, you can also report for this. But before reporting, please check your bank account, building society and credit union account. To submit a missing report all you need your National Insurance Number (NIN). Keep in mind that you can report any missing payment only once. After reporting, the officials will contact you automatically.
Now you must go to the official portal of UK Government and click on “Report a Missing Cost of Living Payment” or select which type of cost of living benefit you want to report as missing or what kind of benefit was missed etc. You must select this and follow the instructions given on the official website and submit the report for your missing Cost of Living Payment.
How to Identify the Cost of Living Payment in Bank Statement
If you want to check whether you have received cost of living payment in your bank account or not, you can identify it with the help of a specific code. If you have received your payment from the “Department for Work and Pensions (DWP)” you will see “DWP COL” mentioned in your bank statement along with your NIN (National Security Number). Or if you have received payment from “Her Majesty’s Revenue and Customs (HMRC)” your bank statement will show “HMRC COLS”.