Exact date you should get first part of £900 cost of living payment – what to do if it doesn’t hit your bank account
MILLIONS of people on means-tested benefits like Universal Credit are receiving the first part of the £900 cost of living payment within days.
The Department for Work and Pensions (DWP) has confirmed that the majority of people have already received the £301 payment.
But there is still a “small number” of people who haven’t yet been paid.
Payments were paused over the coronation weekend but have now started up again.
The DWP has said that all payees will have received the £301 by May 17 – that includes those on tax credits who were paid later.
Payments began on April 25 while those on tax credits would have started getting theirs from May 2.
For those receiving the £301 payment from the DWP, it will show in your bank account as “DWP COLP” along with your National Insurance (NI) number.
For example, if your NI number is JT 83 42 97B your payment will show up as “DWP COLP JT 83 42 97B” on your statement.
The payment will show as ‘HMRC COLS’ in customers’ bank and building society accounts for those on tax credits.
Payments will be made automatically and manually depending on how complicated your circumstances are.
For example, if you’ve recently updated your bank details, then you’ll be paid manually.
The update comes as pensioners are being urged to see if they qualify for pension credit as it means they could get the £301 payment.
But households only have until May 19 to get it.
Pensioners can check their eligibility and get an estimate of what they may receive by using an online pension credit calculator.
Pension credit is sometimes described as a “gateway benefit”, because even a small pension credit award can provide access to a wide range of other benefits.
This can include help with housing costs, council tax or heating bills – in addition to the extra cost of living payments.
What if I don’t receive it by May 17?
If May 17 comes and you still haven’t received the £301, contact the DWP.
There’s a form to fill in on the DWP website using this URL link: dwp.gov.uk/report-a-missing-cost-of-living-payment/welcome.
You’ll need to have your National Insurance number to hand.
And if you’ve already reported a missing payment, you should wait for the DWP to get back to you. You shouldn’t need to fill out another form.
But make sure to check your bank, building society or credit union account, or your Payment Exception Service voucher receipt before doing so, just to be sure.
What is the £900 cost of living payment?
The £900 cost of living payment is a support payment paid to households in the UK that are struggling the most.
This payment will be tax-free and will not have any effect on any existing benefit payments that you receive.
More than eight million people will receive the payment.
The second payment of £300 will be made in the Autumn while the third installment of £299 will be paid in Spring next year.
Who is eligible for the £900 payment?
The £900 payment will be going to millions on means-tested benefits – you’ll only be able to get it if you are claiming one of these benefits below.
- Income-based Jobseeker’s Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Tax Credits (Child Tax Credit and Working Tax Credit)
- Universal Credit
For the previous payments, you had to be entitled, or later found to be entitled to one of these benefits by a certain date.
If you aren’t sure if you’re eligible then you have just days to check.
What other help is coming this year?
Energy supplier grants
Many energy suppliers have their own grants going to help cash-tight customers.
Some of them are actually open to non-customers, like the British Gas Energy Support fund which offers any applicant up to £1,500 in support.
You’ll still need to meet a list of criteria though, which we covered in our article.
British Gas, E.ON, Octopus and Ovo all offer grants worth hundreds of pounds.
If you don’t know who your supplier is, you can find out using the Ofgem supplier search tool on its website.
You can also just phone up and ask your supplier what help is available – they’ll be able to offer options or point you in the direction of someone else who can help.
More cost of living payments
The second and third cost of living payments will be made later this year.
The second one, which will be £300 will be paid in the Autumn.
And the third of £299 will be paid in spring next year.
We don’t have the exact dates but will update this piece once we know more.
Prepayment meter help
Energy firms will be stopped from charging customers extra fees if they use pay-as-you-go meters — saving money for four million families.
It comes after a national outcry over the bully-boy tactics of companies using debt collectors to force people to have the rip-off meters installed.
From July 1, the “prepayment penalty” will end, cutting bills for millions of people.
This will save households an average of £45 a year on their energy bills.
Fuel vouchers
If you’re on a prepayment meter you might be able to get a one-off voucher to top up.
The fuel voucher scheme comes via the Fuel Bank Foundation charity, and it’s offered through a range of organisations, like food banks and Citizens Advice.
The best place to start to find somewhere which can offer you a fuel voucher is by asking your local council – you can find yours via gov.uk by searching your postcode.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk