Don’t Miss Out: February 2024 sets as the Cost-of-living payment date

Cost-of-living Payment Date 2024: Around eight million people who get help with living costs will get some extra money in February. This is the last time they’re scheduled to get this help.

They’ll get £299 added to their bank accounts directly, and they don’t have to fill out any forms. This will happen between 6th February and 22nd February.

People who don’t earn much and get benefits like universal credit can get this extra money, but they should be careful about scams.

A group of Members of Parliament (MPs) recently asked if the money given is enough. In November, a report from the Work and Pensions Committee said this money only helps some people for a short time. They suggested it might be better to increase regular benefits instead.

During the summer, more than six million people with disabilities got an extra £150. In the winter, over eight million older people are getting an extra £300.

Cost-of-living Payment Date 2024

The £299 payment in February is the last part of three payments, making a total of £900, given in a year.

Mel Stride, who is in charge of Work and Pensions, said, “We will always protect the most vulnerable while ensuring fairness for the taxpayer.”

After this last payment, there are no more planned payments for living costs, and this is worrying for some charities.

But the government says benefits will go up by 6.7%, the state pension will increase by 8.5%, and support for people on benefits who rent privately will also rise, all starting in April.

Everyone is being told to be careful of scam messages pretending to be about living cost payments from the government. Some scams try to get personal and money details.

If the payment is real, it will show on the bank account with the person’s national insurance number, followed by DWP COL, or HMRC COLS for those who get it through tax credits.

How to Know Am I eligible for the money? or not

The money will be put into the account where you get your benefit payments automatically. You’ll see DWP COL and your National Insurance number as the reference.

To get this payment, you should be getting one of these: universal credit, income-based jobseeker’s allowance, income-related employment and support allowance, income support, working tax credit, child tax credit, or pension credit. You should have been entitled to this payment between 13th November and 12th December or during an assessment period ending between these dates.

Even if you’re a pensioner with a low income and you’re eligible for pension credit but not getting it, you can still get this extra money if you apply for pension credit and it’s successful.

If you only qualify through tax credits, you’ll get the payment, and it will show on your account with the reference HMRC COLS.

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