Who will receive the £900 cost of living payment?
MILLIONS of households will receive a £900 cost of living payment next year – check if you qualify now.
Speaking in his fall statement On Thursday, Hunt raised taxes and cut spending in a bid to get Britain’s economy back on track.
While many of us will contribute more, even in the midst of a cost of living crisisHunt confirmed additional support for those struggling the most.
In particular, the Chancellor told the House of Commons that more than eight million households in difficulty will receive maintenance of £900.
As we enter winter, many Britons are feeling the cold but are reluctant to turn on the heating due to an increase in energy costs.
This payment will be a nice boost as many of us have to cut costs elsewhere just to make ends meet.
Speaking on Thursday, Hunt said“For the most vulnerable, next year we will introduce additional cost of living payments of £900 to households on means-tested benefits; £300 to retirement households; and £150 for individuals on disability benefit.
“We will also provide additional funding of £1 billion to enable a further twelve month extension to the Household Support Fundhelping local authorities to assist those who might otherwise fall through the cracks. »
Details remain scarce, but here’s what we know so far.
A note on the government website says the Department for Work and Pensions (DWP) and HMRC will provide further details of the timing of these payments, as well as eligibility dates in due course.
He also announced:
What is the £900 cost of living payment?
The Cost of living payment of £900 is a support payment paid to households in the UK who are struggling the most.
The payment is part of a £26billion package announced by the government to help people during the cost of living crisis.
This payment will be tax-free and will not affect any existing benefit payments you receive.
Am I eligible for the £900 payment?
The £900 payout will go into millions on means-tested benefits – you can only get it if you claim one of the benefits below.
- Income-Based Jobseeker’s Allowance
- Employment and Income Support Benefit
- Income support
- Pension credit
- Tax credits (child tax credit and work tax credit)
- Housing allowance
- Council tax support
- Social Fund (Sure Start Maternity Grant, Funeral, Cold Weather Payment)
- Universal Credit
For earlier payments, you had to be entitled, or later be entitled to one of these benefits on a certain date.
When will the £900 be paid?
We don’t know the exact dates when the £900 payment will be paid, but the government’s website said support is for 2023/24.
It will be paid in installments, so you will get it in a series of payments rather than all at once.
For example, this is similar to £400 payment on energy bill which is paid in installments of £66 over a period of six months.
So it’s most likely going to look like this.
How will I be paid?
We still don’t have all the information on how eligible people will be paid, but like other child support payments, it will most likely be paid automatically to your bank account.
This is usually the same account you paid benefits into – so make sure everything is up to date.
The website also says the DWP and HMRC will provide more details on the timing of these payments, as well as eligibility dates in due course.
You may need to ensure that you receive the correct benefits in order to receive the documents.
Hunt too announced new support payments for pensioners and struggling households – including packages of £300 and £150.
Who is eligible for the £300 payout?
The current pensioner cost of living payment is paid to all pensioners who normally receive the Payment for winter fuel.
This means you are eligible if:
- you were born on or before September 25, 1956
- you have lived in the UK for at least one day during the week of September 19-25, 2022 during what is known as ‘qualifying week’
Jeremy Hunt has now confirmed that millions of older Britons will receive another £300 one-off payment next April.
Again, you are eligible if you were born on or before September 25, 1956, but it is not yet clear whether households will qualify if they normally receive the winter fuel payment.
Who is eligible for the £150 payment?
Persons with disabilities who have qualified for the current Single payment of £150 required to receive one of the following:
- Attendance allowance
- Constant attendance allowance
- Disability living allowance for adults
- Living allowance for children with disabilities
- Payment for personal independence
- Payment for Disabled Adults (in Scotland)
- Disabled Child Payment (in Scotland)
- Armed Forces Independence Payment
- War pension mobility supplement
Mr Hunt has confirmed that a second payment of £150 will be made next year, but the criteria for receiving it are not yet known.
What else has been announced?
The Chancellor has matched the donations with sweeping spending cuts and tax increases in an attempt to plug the £60billion black hole in the country’s finances.
However, it froze tax thresholds until 2028which will push more workers into higher tax brackets.
Inflation reached 11.1% in Octoberwhich means people’s pockets are stretched.