£299 Cost of Living Payment: The UK government has announced the final £299 Cost of Living Payment to support eligible low-income households. This payment is part of a broader initiative to help individuals struggling with rising living costs. If you’re wondering whether you qualify and when you’ll receive it, this guide provides everything you need to know.
£299 Cost of Living Payment
| Key Points | Details |
|---|---|
| Payment Amount | £299 |
| Payment Dates | 6 February – 22 February 2024 |
| Eligibility Criteria | Universal Credit, Pension Credit, Income Support, Tax Credits, and more |
| How to Claim? | Automatically deposited into eligible accounts |
| Official Source | Gov.uk |
The £299 Cost of Living Payment is an essential financial boost for eligible low-income households in the UK. If you qualified, your payment should have arrived automatically between 6 – 22 February 2024. If you haven’t received it, check your bank statements and contact the DWP or HMRC for support. Additionally, explore other financial assistance options like Pension Credit and the Household Support Fund to help ease financial pressures.
What is the £299 Cost of Living Payment?
The Cost of Living Payment is a government-funded initiative aimed at providing financial relief to UK households facing economic hardship. The £299 payment is the third and final installment of a series of payments made to individuals receiving means-tested benefits.
This support measure is part of a larger scheme introduced by the Department for Work and Pensions (DWP) and HM Revenue & Customs (HMRC) to help struggling households manage inflation, energy bills, and everyday costs. With energy prices rising and food inflation continuing to affect families, these payments have provided much-needed relief over the last two years.
Why Is This Payment Important?
The cost of living crisis has affected millions across the UK, with increasing prices for essential goods and services. Households relying on benefits are often the most vulnerable to economic fluctuations. The government has stepped in with financial assistance to ensure people can afford basic necessities. While this is the final installment, additional help may be available through other programs.
Who is Eligible for the £299 Payment?
To qualify for the £299 Cost of Living Payment, you must have received at least one of the following benefits during the qualifying period (13 November to 12 December 2023):
- Universal Credit
- Income-Based Jobseeker’s Allowance (JSA)
- Income-Related Employment and Support Allowance (ESA)
- Income Support
- Pension Credit
- Working Tax Credit
- Child Tax Credit
Important Notes:
- The payment is automatically processed, meaning no application is required.
- If you only receive New-Style ESA, JSA, or contribution-based benefits, you will not be eligible for this payment.
What If You Became Eligible After the Cutoff Date?
If you applied for Pension Credit after the eligibility period but before 5 February 2024, you may still qualify. Pension Credit backdating rules allow new claimants to receive the payment even if they were not initially eligible.
When Will the £299 Payment Be Made?
The £299 Cost of Living Payment was issued between:
- 6 February – 22 February 2024 for those receiving DWP benefits.
- 16 February – 22 February 2024 for those receiving only Tax Credits via HMRC.
Funds were automatically deposited into the same bank account where you receive your benefit payments. If you do not see the payment, follow the steps below.
How to Check If You Received the Payment
If you believe you were eligible but haven’t received the payment, follow these steps:
1. Check Your Bank Account
Look for a deposit labeled “DWP COL” or “HMRC COLS” in your statement. The payment should appear separately from your usual benefits deposit.
2. Contact the DWP or HMRC
If you don’t see the payment, contact:
- DWP (for Universal Credit, JSA, ESA, Pension Credit, or Income Support)
- HMRC (for Working Tax Credit and Child Tax Credit)
3. Verify Eligibility
If your circumstances changed recently, check if your benefits were in place during the qualifying period.
Beware of Scams
With financial aid programs, scammers often try to take advantage. The UK government will never ask for your personal or banking details via email, text, or phone call. If you receive such a request, report it immediately to Action Fraud.
Additional Financial Assistance
If you did not qualify for the £299 Cost of Living Payment but still need help, consider:
1. Household Support Fund
Local councils offer financial aid to vulnerable residents.
If you are over 66 years old, check if you qualify for Pension Credit, which could provide an extra £2,000 per year.
3. Benefits Calculator
Use an independent Benefits Calculator to check for other financial assistance options.
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FAQs About £299 Cost of Living Payment
1. Do I Need to Apply for the £299 Cost of Living Payment?
No, the payment is automatic if you qualify.
2. What If I Haven’t Received My Payment?
Check your bank statement and contact DWP or HMRC if needed.
3. Will There Be More Cost of Living Payments?
The £299 payment is the final installment. However, further support schemes may be introduced based on economic conditions.
4. What If I Was Eligible but My Payment Was Late?
Most payments were processed by 22 February 2024. If yours is missing, contact DWP or HMRC immediately.
5. Are There Other Financial Support Options?
Yes, including Pension Credit, Council Tax Reductions, and energy grants.
