Millions of households across the UK will receive a £301 cost of living payment later this month.

The Department for Work and Pensions (DWP) confirmed the first of five cost of living payments set to be sent out this year, would land in people’s accounts from April 25.

More than 8 million people are eligible for the first cost of living payment, worth £301.

Two more payments, worth £300 and £299 will be sent out by the DWP later this year, with a £150 payment also being made to eligible disabled people, while £300 will be sent to pensioners later this year.

News Shopper:

The £301 payment will be sent out automatically and directly to recipients, meaning those eligible do not need to apply or do anything to receive it. The payment reference for bank accounts will be DWP COLP, along with the claimant’s National Insurance number.

While payments will start on April 25, some eligible households may not receive the payment until May 17.

Who is eligible for DWP £301 cost of living payment?

The full list of benefit recipients that qualify for the upcoming Cost of Living payment are those who receive:

  • Universal Credit
  • Income-based Jobseekers Allowance
  • Income-related Employment and Support Allowance
  • Income Support
  • Working Tax Credit
  • Child Tax Credit
  • Pension Credit

The qualifying period for this payment is between 26 January and 25 February 2023.

To be eligible for the Cost of Living Payment, you need to have been entitled to a payment for one of these benefits between 26 January and 25 February 2023, or payment for an assessment period ending between these dates.

The DWP is also encouraging low-income pensioners not already getting Pension Credit to check their eligibility, as they can still qualify for the £301 Cost of Living Payment if they make a successful backdated Pension Credit application by 19 May.

When will DWP cost of living payments be received?

The exact dates for some payments are yet to be announced by the DWP, but this is when to expect each individual payment over the next year:

First cost of living payment - £301 – April 25 to May 17

Disability payment - £150 – Summer 2023

Second cost of living payment - £300 – Autumn 2023

Pensioner payment - £300 – Winter 2023

Third cost of living payment - £299 – Spring 2024