DWP issues £299 cost of living update as it lands in people's accounts

The Department for Work and Pensions has today (Feb 9) issued an update on the £299 cost of living payment which is currently landing in people’s accounts. The money is aimed at helping people who would struggle to pay heating bills during the cost of living crisis.

It started to land in accounts on February 6 - and this afternoon the DWP said that 6.4 million people on means-tested benefits have received £299 this week to help with the cost of living. It is the final cash payment of £900 in total and the sum, which is £299 should be arriving in the same bank account which benefits are normally paid into. Around eight million people are due to get the money which will be paid out from February 6 to 22.

The DWP said today: “If you’ve not received your £299 #CostOfLivingPayment, don’t worry - payments will continue to be made up to 22 Feb.” It will go to people who are claiming the eligible benefits and should arrive automatically - it can be checked with a special code in a person’s bank account.

The payment reference for bank accounts will be the recipient’s National Insurance Number followed by DWP COL or HMRC COLS.

Since the start of 2023 there have been two payments - of £301 and £300 and the £299 will be the final instalment. Those eligible need to have received certain benefits for the qualifying dates between 13 November 2023 to 12 December 2023 .

They need to have been getting Universal Credit, Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit, or Pension Credit.

You are eligible for the Cost of Living Payment of £299 if you were entitled to a payment (or later found to be entitled to a payment) of income-based JSA, income-related ESA, Income Support or Pension Credit for any day in the period 13 November 2023 to 12 December 2023.

People should not need to take any action to get the money and it will automatically be paid out. For joint Tax Credits claimants, where one claimant receives Working Tax Credit and the other claimant receives Child Tax Credit, payments will be made into the same bank account as the Child Tax Credit.

If a household becomes retrospectively entitled to a Cost of Living payment or believe they are entitled but do not receive one, they can report this via gov.uk from February 23.