April 2023 will see a range of financial changes come into force following announcements made by Chancellor Jeremy Hunt. Millions of households across the country will be eligible for a wide variety of extra financial support from the Department for Work and Pensions (DWP), while benefits and pension payments will see an uplift of 10.1%, details of which were announced in the Autumn Statement.
As part of a £94 billion support package in place to protect struggling families through the cost of living crisis, some Brits could see a financial boost of up to £3,300 worth of support, according to a Manchester Evening News report, mainly uplifted by the £2,500 energy price guarantee.
Those eligible for the upcoming cost of living payments fall in to certain categories, which are detailed below, but include older adults, families and those claiming disability benefits. The details of who is in line for a payment and when to expect to cast to hit your bank account, is explained below.
£900 Cost of Living payment - the first instalment
The 2023/2024 Cost of Living payment adds up to £900 which will be delivered in three instalments. Those receiving certain benefits will receive the first part of the cash pot as a £301 payment. The following instalments will be broken down as £300, and £299 payments.
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In order to be considered eligible for the payments, you must be receiving one of the following benefits:
- Universal Credit
- Working Tax Credit
- Child Tax Credit
- Income Support
- Income-based Jobseeker's Allowance (JSA)
- Income-related Employment and Support Allowance (ESA)
- Pension Credit
However, if your Universal Credit has been cut to zero during the qualifying period, then you won't be considered eligible in most cases. All three instalments will go into accounts during the new financial year, which starts on April 6.
The first payment will be paid sometime during spring, with the second in autumn, and the third in spring 2024.
Disability cost of living payment - £150
Those receiving disability benefits will be eligible for a cash boost in the summer. In order to be considered eligible you must be receiving one of the following benefits:
- Personal Independence Payment (PIP)
- Attendance Allowance
- Disability Living Allowance
- Constant Attendance Allowance
- Scottish disability payments
- Armed Force Independence Payment
- War Pension Mobility Supplement
Qualifying periods and specific payment dates are yet to be announced.
Pensioner cost of living payment - £300
Households receiving the Winter Fuel Payment for 2023/24 will be eligible for an extra cash boost worth between £150 to £300, which will be added on to the usual Winter Fuel Payment in November 2023.
The exact amount someone receives will vary depending on when they were born and their circumstances during the qualifying dates. It is understood that letters will be sent out in October or November 2023 to inform people of how much they will receive if eligible.
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