The first part of the £900 cost of living payment will start to arrive for millions of eligible Brits from today.
The £301 cash payment is the first of three instalments that will make up the £900 support.
If you’re due the money, there is a code you should look out for in your bank account.
The cost of living payment will show as "DWP COLP" in your bank account along with your National Insurance number.
Your National Insurance number is nine digits long and starts with two letters, followed by six numbers and one letter.
The code for HMRC payments is very similar and will show as "HMRC COLS".
The cost of living cash will be paid in the same way as your usual benefit payment, so into the same bank account where you get normal payments.
Most people will receive the money between April 25 and May 17 if they claim benefits from the Department for Work and Pensions.
But if you receive Tax Credits from HMRC and no other DWP benefits, you won’t get the £301 until between May 2 and May 9.
You also need to be claiming eligible benefits between the qualifying period.
You need to have been entitled to a payment, or later found to have been entitled, between January 26 and February 25, to receive the money.
For those claiming Universal Credit , this counts as the qualifying assessment period.
But you will not be eligible for the cost of living payment if your benefit is reduced to £0 for the qualifying period.
This is often referred to as a "nil award".
Which benefits qualify for £301 cost of living payment?
You need to be claiming one of the following means-tested benefits during the qualifying period to get the cash.
The benefits are:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Working Tax Credit
- Child Tax Credit
Some people could become eligible for the cost of living payment if they later backdate a benefit claim.
The DWP has said that those who put in a claim for Pension Credit before May 19 this year, will be automatically eligible to get the first £301 payment.
This is because Pension Credit can be backdated for three months, which would then cover the earlier qualifying period for the cash.
Dates for the second and third instalment of the £900 cost of living payments - set to be worth £300 and £299 - have also yet to be announced.
The second payment is due to be sent in summer 2023, while the third payment will be sent in spring 2024.
All the cost of living payments will be tax-free, will not count towards the benefit cap, and will not have any impact on existing benefit awards.
