The UK government, through the Department for Work and Pensions (DWP), introduced Cost of Living Payments to help citizens cope with rising expenses such as housing, utilities, and groceries. This support was crucial during 2023 and early 2024 when high inflation left many households struggling financially. The final payment in this series is the £299 Cost of Living Payment, scheduled for February 2024, offering targeted assistance to those most in need.
Payment Schedule
The payments were divided into instalments throughout the 2023/24 fiscal year to provide regular financial relief.
| Payment Amount | Eligible Benefits | Payment Dates |
|---|---|---|
| £301 | Universal Credit, Income Support, Pension Credit, and more | 25 April – 17 May 2023 |
| £301 | Tax Credits only (no other benefits) | 2 May – 9 May 2023 |
| £300 | Universal Credit, Income Support, Pension Credit, and more | 31 October – 19 November 2023 |
| £300 | Tax Credits only (no other benefits) | 10 November – 19 November 2023 |
| £299 | Universal Credit, Income Support, Pension Credit, and more | 6 February – 22 February 2024 |
| £299 | Tax Credits only (no other benefits) | 16 February – 22 February 2024 |
These payments were automatically disbursed, ensuring a smooth and efficient process for recipients.
Eligibility for the £299 Payment
To qualify for the £299 payment, individuals needed to have received at least one of the following benefits between 13 November and 12 December 2023:
- Universal Credit (unless subject to a nil award)
- Income Support
- Pension Credit
- Income-related Employment and Support Allowance
- Child Tax Credits
- Working Tax Credits
- Income-based Jobseeker’s Allowance
Payments were directly deposited into recipients’ bank accounts, requiring no application.
Reporting Missing Payments
For those who did not receive their payment, the DWP provided an online form on the Gov.uk website to report the issue. Claimants needed to provide their full name, date of birth, and National Insurance number. Most cases were resolved within two weeks.
Future Financial Support
While the £299 payment in February 2024 is the final instalment under this initiative, the government has announced a 6.7% increase in benefit rates, including Universal Credit, from April 2024. This adjustment will provide ongoing financial support to eligible households, ensuring continued relief amid economic challenges.
Final Thoughts
The Cost of Living Payments have been a critical lifeline for many UK citizens, offering timely financial aid during a period of significant uncertainty. With this scheme coming to an end, the increase in benefit rates marks a step forward in helping households manage their expenses in 2024. If you qualify for the £299 payment and haven’t received it, act quickly by reporting the issue through the official DWP platform to secure your entitlement.
