The Department for Work and Pensions (DWP) will start paying the money for those on means-tested benefits from next week.
Those who are eligible will see the money drop into their banks from October 31. As it stands, those on income-based Jobseeker's Allowance , income-related Employment and Support Allowance , Income Support, Pension Credit, Universal Credit and tax credits have been given £301 paid out between April 25 and May 17 and are due a second instalment of £300 between October 31 and November 19.
The third payment, of the £900 money, is due to be paid in the spring of next year, although no confirmed dates have been announced. However, in a new update, the £299 payment is due to be paid before spring 2023 meaning it could arrive before March 20.The one-off £300 payment is intended to provide relief amid the rising cost of living and can be used to help pay for things such as rent, food, bills, and other basic necessities, reports Manchester Evening News.
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.
You may still be eligible for a cost of living payment if your benefit is reduced to £0 and one of the following applies:
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