MORE than seven million homes are set to receive a £300 cost of living payment from the Department for Work and Pensions (DWP) in the coming weeks.

Payments of the latest cost of living boost began on October 31, with those in receipt of Universal Credit and some other means tested benefits eligible.

Payments will continue to be made until November 19, by which point all eligible households should have received the money.

If you do not receive it by November 19, you will be able to report a missing payment to the DWP.

In order to do so, you will need your National Insurance number.

The guidance says: “Before reporting a missing payment, check your bank, building society or credit union account, or your Payment Exception Service voucher receipt.

“The payment will be made separately from your benefit.

“Do not report the same missing payment more than once. We will reply to you as soon as we can.”

You will be able to spot the payment in your account as it will be accompanied by the code “DWP COL” followed by your National Insurance number.

DWP £300 cost of living payment eligibility

To be eligible for the latest cost-of-living payment from the DWP, someone needs to have been entitled to a payment for a qualifying benefit between August 18 and September 17, or a payment for an assessment period, ending between these dates.

From HMRC, they need to have received a payment of tax credits for any day between August 18 and September 17.

There are several benefits that could make claimants eligible for the cost of living payment, including Universal Credit and tax credits – through which 5.4 million households across the UK are expected to qualify, and Pension Credit, through which 1.4m pensioner households are expected to be paid while 1.3m will be eligible through legacy DWP benefits such as Jobseekers Allowance and Income Support, reaching a total of 8.1m households.

Eligible individuals do not need to apply for payments, as they are made automatically. Those eligible for cost of living payments through tax credits, and no other means-tested benefits, will be paid by HMRC shortly after DWP payments are made.

DWP cost of living payment dates

The exact payment dates are yet to be announced by the DWP, but this is when to expect each individual payment over the next year:

  • Second cost of living payment - £300 – October 31 to November 19
  • Pensioner payment - £300 – Winter 2023
  • Third cost of living payment - £299 – Spring 2024