The final £299 cost of living payment has been disbursed to eligible government grant recipients. Here, we outline available benefits and remaining support options from the DWP.
Cost of living and benefit policies featured prominently in both Conservative and Labour manifestos before the recent election, though specific proposed changes were sparse.
Explore the promises detailed in the Tory manifesto and the Labour manifesto’s provisions for benefits and living costs. Notably absent are mentions of the cost-of-living payments that aided millions of low-income households during the past year’s economic strains—support that has now ceased.
During the crisis, vulnerable households received £1,350 in financial aid. Eight million families received £900 across three payments, with the final instalment distributed from February 6 to February 22, 2024. Additional assistance was provided to disabled individuals and pensioners.
Although no new cost of living payments are planned, the DWP offers various support payments throughout July.
Will there be another cost of living payment in 2024
The £299 final cost of living payment was automatically deposited into eligible recipients’recipients’nts by Thursday, February 22. No application was necessary to receive this payment.
What was the £900 cost of living payment?
The poorest households in the country, receiving means-tested benefits, received a £900 cost of living payment.
The payments were made in three batches on the following dates:
- To qualify for the £900 payment, recipients had to receive means-tested benefits from January 26 to February 25, 2023. This additional sum was provided in addition to the £650 already received, distributed in two installments:
- The first installment of £326 was disbursed between April 25 and May 17, 2023.
- The second installment of £324 was distributed between October 31 and November 19, 2023.
- A final £299 payment concluded the series, issued between February 6 and February 22, 2024.
Over eight million households in the UK received the additional financial support.
Eligible recipients of the cost of living payments had them automatically and directly deposited by the Department for Work and Pensions (DWP), eliminating the need for application.
The DWP cautioned against potential scams, emphasizing that legitimate payments did not require an application process.
These tax-exempt payments did not impact existing benefit awards, remaining exempt from the benefit cap.
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How to report missing cost of living payment
Several readers have contacted Times Money Mentor regarding their non-receipt of the third cost of living payment. You can report the missing payment on the government website if you believe you are eligible but have not received funds. Ensure you have your national insurance number, which you can retrieve if lost through the provided link.
You only need to report the missing payment once. The DWP commits to responding promptly to your report.
If you have not yet received your payment, you may find answers in our Q&A section or contact us directly for further assistance. We can investigate on your behalf.
Are there any other benefits I could be due?
Following the conclusion of cost of living payments, various government schemes assist.
As outlined in the spring Budget, the Household Support Fund (HSF) has been extended for a fifth time, running for six months until September. Local councils have the flexibility to allocate these funds to support households in need. For instance, Medway Council in Kent offers supermarket vouchers valued at up to £225, while Wakefield Council provides vouchers worth £75.
Councils are also offering cash grants and aid with energy bills. To explore available support, visit your local council’s website.
If you are low-income or unemployed, the council’s eligibility for Universal Credit. Those above the state pension age and those with low income may qualify for pension credit.
Additionally, numerous other benefits and grants may be accessible to you. Check your entitlements on the government’s official website. Several charities also offer the government’s estimated potential benefits, including the most significant three:
Complete list of DWP dates in July 2024
The date a DPW benefit is paid depends on two things:
- Which benefit you’re claiming
- When you started claiming it
Univyou’reCredit is disbursed monthly on the anniversary of your first payment. In contrast, disability living allowance, attendance allowance, personal independence payments, pension credits, and the state pension are paid every four weeks.
Employment and support allowance, jobseeker’s allowance, and income support are paid every two weeks.
Those receiving a carer’s allowance, HMRC tax credits, and benefits receive payments weekly or every four weeks. Maternity allowance is paid either every two weeks or every four weeks.
Any repayments are automatically deducted from Universal Credit payments.
Payments scheduled on a bank holiday are generally processed on the last working day before the holiday, though this applies only when a bank holiday is scheduled.
As there are no bank holidays in July, payment dates will proceed as usual.
Extra help and support schemes
Several charities and energy suppliers provide support schemes and customer grants.
It’s advisable to check with your energy provider and Citizen’s Advice to explore options, especially if you are facing debt with your supplier.
If you cannot secure a grant from your energy supplier, consider contacting the British Gas Energy Trust. You don’t need to be a British Gas customer; do must first consult with a debt adviser.
Financial institutions are also mandated to assist individuals experiencing financial hardship. For instance, mortgage lenders must provide tailored support to those struggling with bill payments. Similarly, enhanced protections are in place for individuals managing overdrafts, credit cards, car finance, and other credit obligations.
If you are having difficulty paying bills, contact your lender directly to inquire about the support they can offer.
Budgeting advance loans
A ‘budgeting advance loan’ is available for ‘individuals on Universa’ Credit facing emergency financial shortages. These interest-free loans allow borrowers to access up to:
- £348 if you’re single
- £464 if you’re part of a couple
- £812 if you have you’re
Frequently Asked Question
What is a budgeting advance loan?
A budgeting advance loan is a form of financial support available to Universal Credit individuals facing emergency financial difficulties. It is designed to help cover unexpected expenses or essential costs.
Who is eligible to apply for a budgeting advance loan?
To be eligible for a budgeting advance loan, you must receive Universal Credit for at least six months (or have earned income if you are in a couple) and have earned less than £2,600 (or £3,600 together with your partner) in the past six months. You must also have less than £1,000 (£2,000 for couples) in savings.
How much can I borrow with a budgeting advance loan?
You can borrow between £100 and £812 (or up to £1,218 for certain exceptional expenses). The amount you can borrow depends on your individual circumstances, including your income and savings.
How do I apply for a budgeting advance loan?
Contact your local Jobcentre Plus or Universal Credit helpline to apply for a budgeting advance loan. They will provide an application form and guide you through the process.
What is the repayment period for a budgeting advance loan?
The repayment period for a budgeting advance loan is typically up to two years. Repayments are automatically deducted from your future Universal Credit payments, so there’s no need to make separate repayment arrangements.
Conclusion
A budgeting advance loan offers vital financial support to Universal Credit recipients facing urgent economic challenges. These interest-free loans provide a lifeline for covering unexpected expenses, with repayment periods extending up to two years. Eligibility criteria and borrowing limits ensure tailored assistance, making it a crucial resource during financial need.
