Cost of living payments have been issued by the Government to provide support amid high inflation. A new round of payments has recently been announced, and they could provide important help to eligible older Britons.
As a result, many will want to see if they could qualify for this important support.
Firstly, some older individuals will be eligible to receive a £900 cost of living payment.
This specific payment is intended for those who are in receipt of means-tested benefits.
This includes Pension Credit, a payment worth some £3,500 on average per year, and given to low income pensioners.
READ MORE: State pension ‘quirk’ could provide Britons with 20 percent boost
It is estimated some 850,000 pensioners are currently eligible but not claiming, and it means they could miss out on this important support.
Even if a person qualifies for a small sum in Pension Credit, this will be enough to make them eligible for the cost of living payment.
The new round of this cost of living payment will be issued as follows, according to the DWP:
- £301 – paid between April 25 and May 17, 2023
- £300 – autumn 2023
- £299 – spring 2024.
As of August 2019, some 1,590,000 people were in receipt of Attendance Allowance according to official DWP figures.
It means many people could benefit from the valuable £150 payment to help with their everyday costs.
The dates when the £150 disability cost of living payment will be issued are not clear, but the one-off payment should be expected to arrive in bank accounts this summer.
The final payment which pensioners should be eligible to receive is the £300 pensioner cost of living payment.
It will be issued as a lump sum with a person’s Winter Fuel Payment, and as such should be expected between November 2023 and January 2024.
To be eligible in the upcoming tax year, a person needs to have been born on or before September 4, 1957.
They must have also lived in the UK for at least one day during what is deemed as the “qualifying week” – typically the last full week in September.
Britons should not have to do anything if they are eligible to receive one, two or all three of these payments.
The sums should be issued automatically to those who are eligible.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
