Everything you need to know about the second Cost of Living payment, worth £300, paid from the Department for Work and Pensions

The next Cost of Living payment is set to drop into bank accounts this month.

This is the second of 3 payments being paid in the financial year 2023/24 that make up a £900 Cost of Living payment from the Department for Work and Pensions (DWP)

Cost of Living payments are grants made to help millions of low-income households struggling to buy essentials and pay bills amid the cost of living crisis.

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The first of the 3 instalments, which was for £301, was paid in April and May this year. The second instalment is for £300 and is due to arrive between 31 October and 19 November. The third instalment of £299 will be paid in spring 2024.

And now, there's pressure for the DWP to announce more financial help, with further announcements expected in the November budget.

What's the full cost of living payment schedule for 2023?

The next cost of living payment is £300 for people on income-based benefits such as Universal Credit. This money will be paid into accounts between 31 October 31 and 19 November, 2023, for most eligible people.

The full cost of living payment schedule for 2023/2024 is as follows:

• £301 paid between April 25 and May 17 for most people on DWP means-tested benefits. Qualifying period was January 26 to February 25.
• £301 paid between May 2 and 9 for most people on HMRC tax credits and no other means-tested benefits. Qualifying period was January 26 to February 25.
• £150 paid between June 20 and July 4 for people on disability benefits. Qualifying date was April 1. Some payments are still being made but there is no 'second' payment.
• £300 paid during Autumn 2023 for people on means-tested benefits – paid between 31 October and 19 November. Qualifying dates are August 18 to September 17
• £300 paid in November and December to pensioners who get Winter Fuel Payment
• £299 paid during Spring 2024 for people on means-tested benefits – no exact dates yet announced

What are Cost of Living payments?

These are payments paid out by the DWP to low-income families. The payments were initially introduced by the chancellor Jeremy Hunt in 2022.

The money aims to help with living costs amid the cost of living crisis.

As well as the current 2023/24 £900 payment, the DWP paid out two payments in 2022 worth £650.

Some people were also eligible for a £150 Disability Cost of Living payment, paid between 20 June and 4 July, to help with care and mobility costs.

Am I eligible?

You can get the grant if you receive any of the following benefits:

• Universal Credit
• Income-based Jobseeker’s Allowance
• Income-related Employment and Support Allowance (ESA)
• Income Support
• Pension Credit
• Working Tax Credit
• Child Tax Credit

You will need to have been entitled to a payment for a qualifying benefit between 18 August and 17 September to be eligible for this payment.

Do I need to apply?

There's no need to apply. Payments are made automatically to those who are eligible and do not affect any other benefits or count towards the benefit cap. You will receive the payment the same way you receive your benefits.

You can find more information about Cost of Living payments on the government website.

What other help is there for struggling families ?

Many low-income families are eligible for the Household Support Fund – a sum of money given to local councils who share this with residents who need it most.

Some councils have provided families with cash payments, others used the money to give out free school meals during school holiday.

View our guide to see what's available in different areas of the country here or contact your local council for further details.

Cost of Living advice

See our Cost of Living hub which has all the latest stories about benefits and entitlements, and up-to-date information from the DWP.

You can find Government-based advice on cash you might be entitled to and the latest dates of when you can expect the latest payments to land in your bank account.

There are also top tips from the Money Saving Expert, Martin Lewis, as well as brilliant ideas for saving money on everything from your weekly shop, to that well-deserved holiday.

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