Cost of living full list of benefits that will entitle you to £299 payment

03 February 2024 , 07:00

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The next cost of living payment is due from February 6 (Image: Getty Images)

The third and final cost of living payment will start to be sent to millions of people from next week - but you need to be claiming certain benefits to get it.

The payment is worth £299 and is being issued by the Department for Work and Pensions (DWP) between February 6and February 22 . HMRC is also issuing the payment to Tax Credit claimants but at the slightly later timeframe of between February 16 and February 22.

But which benefits do you need to be claiming? The full list is as follows:

• Universal Credit
• Income-based Jobseeker's Allowance
• Income-related Employment and Support Allowance
• Income Support
• Working Tax Credit
• Child Tax Credit
• Pension Credit

You need to have been claiming on these benefits between November 13 and December 12 last year. If you claim Universal Credit, you must have been eligible for a payment for an assessment period ending between these dates.

The money will be sent automatically to your bank account - this means you won't need to apply for it. The payment will show in your bank account as your National Insurance Number followed by DWP COL. The HMRC payment reference will be HMRC COLS.

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This cost of living payment is the third and final part of the £900 cost support package previously announced by the Government. Anyone claiming eligible benefits should have already received two previous payments worth £301 and £300, respectively.

However, you can still be eligible for the final £299 instalment even if you didn't receive the first two payments. You just need to have been claiming certain benefits during the timeframe mentioned above.

If you later become entitled to a cost of living payment - for example, you start claiming benefits and your claim gets backdated - and you don't receive the money, you can report this to GOV.UK from February 23. For example, you can backdate Pension Credit by three months and the deadline to do this, and be entitled to the £299 cost of living payment, is by March 5.

Levi Winchester