19 February 2024 , 12:10
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The Department for Work and Pensions (DWP) has warned some people may miss out on the £299 cost of living payment.
Automatic payments should reach all eligible bank accounts by February 22, 2024. But the DWP has warned that a "small number" of payments may not go through automatically - however, they have plans in place to make sure everyone gets their money.
The DWP said: "A small proportion of automated payments may fail (for example, the customer has closed their bank account), but DWP and HMRC have robust processes in place to ensure that all eligible claimants will receive their payments, with manual workarounds in place if necessary."
If you don't get the last cost of living payment automatically, you will be able to report it as missing on GOV.UK from February 23, 2024. Around eight million people will receive the £299 payment, which is the third instalment of the £900 cost of living support previously announced by the Government. Households claiming eligible benefits should have already received two previous payments worth £301 and £300, respectively.
The £299 payment is being sent to people who were claiming one of 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 full list is as follows:
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- Universal Credit
- Income-based Jobseeker's Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Pension Credit
The payment will show in your bank account with your National Insurance Number followed by DWP COL. The HMRC payment reference will be HMRC COLS. Mel Stride, Secretary of State for Work and Pensions, said: “We’ve delivered on our promise to halve inflation, putting money back in people’s pockets, while also providing millions of households with unprecedented financial support to ease cost of living pressures.
“We will always protect the most vulnerable, while ensuring fairness for the taxpayer. We know that the best way to secure long-term financial security is through employment, so we’re rolling out the next generation of welfare reforms to put thousands more people on a pathway off benefits and into work.”