The date that thousands of households in west Wales will receive the second cost of living payment of £300 has been announced by the UK Government.
The Department of Work and Pensions (DWP) will make the payment to eligible households between 31 October 31 and November 19 this year.
This is the second of three payments totalling up to £900 for those eligible and on means-tested benefits, such as Universal Credit, Pension Credit, or tax credits, in 2023/24.
Eligible pensioner households will also receive a further £300 payment later this year as an addition to the winter fuel payment.
The £300 cost of living payment will be sent out automatically and directly to recipients, meaning those eligible do not need to apply, contact the government, or take any action to receive it.
This includes tax credits-only customers who will receive the payment from HM Revenue and Customs (HMRC) between November 10 and 19.
The first cost of living payment for the 2023/24 financial year was made in May this year.
The payment reference for bank accounts will be the recipient’s National Insurance Number followed by DWP COL or HMRC COLS.
Mel Stride, Secretary of State for Work and Pensions, said: “The best way we can boost bank balances is by bearing down on inflation, but as we get there, we are ensuring the most vulnerable households are cushioned from high prices with a further cost of living payment.
Jeremy Hunt, Chancellor of the Exchequer, added: “Halving inflation and getting price rises under control is the best way to support households struggling with their bills. But it is also right that we are helping the most vulnerable in our society, and this latest cost of living payment is part of a package of support worth around £100 billion to help those struggling the most."
The full list of benefit recipients that qualify for the second Cost of Living Payment are those who are eligible and receive at least one of the following:
• Universal Credit;
• Income-based Jobseekers Allowance;
• Income-related Employment and Support Allowance;
• Income Support;
• Working Tax Credit;
• Child Tax Credit;
• Pension Credit
To be eligible for the cost of living payment from DWP, you need to have been entitled to a payment for a qualifying benefit between 18 August 2023 and 17 September 2023, or payment for an assessment period, ending between these dates.
From HMRC, you need to have received a payment of tax credits for any day in the period between 18 August 2023 and 17 September 2023.
The DWP continues to encourage low-income pensioners not already getting Pension Credit to check their eligibility, as – thanks to Pension Credit backdating rules – they could still qualify for both the second cost of living payment as well as the third payment due in Spring 2024.
Over eight million pensioner households will also receive a further £300 payment later this year in addition to the Winter Fuel Payment.
For more information on these payments, please visit www.gov.uk/guidance/cost-of-living-payments-2023-to-2024
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