New cost of living payments announced for 2023
Millions to receive further cost of living payments in 2023
New cost of living payments for 2023
The Department for Work and Pensions (DWP) has announced more detail on the payment schedule for the next round of cost of living support unveiled in the Chancellor’s Autumn Statement, building on payments made to over eight million people in 2022. Millions will receive the new cost of living support from Spring 2023.
- £900 Cost of Living Payment for means-tested benefit claimants will go directly to bank accounts in three payments over the financial year
- Extra cash support for disabled people and pensioners will see some households receive extra cash
The new £900 cash boost for over eight million eligible means-tested benefits claimants, including those on Universal Credit, Pension Credit and tax credits, starts in Spring and will go directly to bank accounts in three payments over the course of the financial year.
There will also be a separate £150 for over six million disabled people and £300 for over eight million pensioners on top of their Winter Fuel Payments.
Exact payment windows will be announced closer to the time, but are spread across a longer period to ensure a consistent support offering throughout the year. They will be broadly as follows:
£301 – First Cost of Living Payment – during Spring 2023
£150 – Disability Payment – during Summer 2023
£300 – Second Cost of Living Payment – during Autumn 2023
£300 – Pensioner Payment – during Winter 2023/4
£299 – Third Cost of Living Payment – during Spring 2024
