The Department for Work and Pensions (DWP) is set to deliver the second cost of living payment to millions of people within weeks. The department has confirmed it will issue the second payment - worth £324 - into the bank accounts of people on means-tested benefits.
Earlier this summer millions of people received £326 from the department, the first instalment of a £650 package aimed at helping those hardest hit by the cost of living crisis which has seen supermarket bills and energy costs soar. The Office for National Statistics (ONS) will reveal the latest increase in the cost of living for UK households this morning (October 19) and economists predict it will show Consumer Price Index (CPI) inflation increased to 10%, compared with 9.9% in August.
The latest increase is said to be down to rising food prices and comes after weeks of political turmoil which has seen the UK Government scrap most of the measures announced in its mini-budget on September 23. The past few weeks has seen the value of the pound plummet, former chancellor Kwasi Kwarteng replaced just weeks into the job and growing speculation over the future of Prime Minister Liz Truss.
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With so much pressure on households to make their bills, many people are wondering when the latest cost of living payment will arrive. Here is everything you need to know about the payment including when you'll receive it and who is eligible.
Who will receive the £324 cost of living payment?
Similar to the first payment given in July, those who claim universal credit, income-related employment support allowance, income-based jobseeker’s allowance, income support and pension credit are eligible for the second payment coming this autumn.
To get the payment you must have been entitled, or later found to be entitled, to one of these benefits for any day in the period August 26 to September 25, or tax credits within that period.
When will I get the money?
The second payment is due between November 8 and 23 and will be paid automatically into the bank that people receive their benefits. However those receiving tax credits will be paid after November 23. The DWP says it will make "a small number of payments" on November 8 with "numbers increasing significantly" from November 9.
Is there any other support available?
Yes, there are a number of payments available that you could qualify for this winter. To find out about all the cost of living payments due between now and Christmas click here. To get all the latest money-saving news straight to your inbox twice a week sign up here.
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