How will the second cost of living payment be paid? Why you don’t need to apply and who can claim the £324
He came as households struggle with soaring energy priceswith Liz Truss intervenes to announce that energy price cap would be frozen at £2,500 a year from Octoberrather than rising to £3,549 as previously announced.
Among the payments still to be issued in autumn and winter are the second part of the cost of living payment of £650a £400 Tiered Energy Bill Discount and an increase in fuel payment in winter.
The government has now announced the dates when people will receive the second installment of the £650 grant. Here’s when you’ll get it and how it’ll be paid for.
Who receives the £650 cost of living payment?
- Universal Credit
- Income-Based Jobseeker’s Allowance
- Employment and Income Support Benefit
- Income support
- Labor tax credit
- Child tax credit
- Pension credit
He said claimants must have received one of these benefits or started a successful claim by Wednesday, May 25.
Payment is made in two instalments. The first installment of £326 has already been issued. The second payment will be £324.
The amounts are deliberately slightly unequal to minimize the risk of fraud. When you receive the payments depends on the benefits you receive.
How will I receive the money?
If you are eligible for payment, you do not need to apply – payments will be automatically credited to you and should appear in your bank account with the code “DWP COL” or similar.
When will I receive the second payment?
People on Universal Credit, as well as those on Jobseeker’s Allowance, Employment and Support Allowance and Income Support, received the first payment in July.
The Department for Work and Pensions (DWP) has advised that the second payment will arrive between Tuesday 8 and Wednesday 23 November 2022 for the majority of applicants.
DWP said it will “make a small number of payments on November 8, with the number increasing significantly from November 9.”
Those eligible for the tax credits began receiving the first grant between Friday September 2 and Wednesday September 7, approximately seven weeks after the initial rollout.
These people received the money later to avoid possible duplicate payments.
They should receive the second payment between Wednesday 23 and Wednesday 30 Novembersaid DWP.