The UK government will issue cost-of-living payments in February to over eight million people on means-tested benefits to help with high bills. The payments will be the last instalment of a three-part series, totalling £900, that will have been paid within a year. The £299 payment will be deposited directly into bank accounts between 6 February and 22 February, without requiring any claims. While low-income individuals receiving benefits such as universal credit are eligible, they should be on the lookout for scams.
While the government has pointed to a 6.7% rise in benefits alongside an 8.5% rise in the state pension as well as increased financial support for benefit recipients renting privately, some charities have expressed concern that no further cost-of-living payments are scheduled. In November, a Work and Pensions Committee report indicated that the payments, while offering a temporary reprieve for some, may have been better invested in expanding benefits.
Over six million disabled people received £150 in cost-of-living payments during summer last year. Meanwhile, over eight million pensioners are currently receiving an extra £300 for the winter. February’s payment will come as a welcome relief to those struggling with the high cost of living, with the Work and Pensions Secretary Mel Stride stating that the government will always protect the most vulnerable while ensuring fairness for taxpayers.
It’s important to note that legitimate cost-of-living payments will display a reference on bank accounts featuring the recipient’s national insurance number followed by either ‘DWP COL’ or ‘HMRC COLS’ for those who qualify through tax credits. Individuals should be wary of suspicious scam messages designed to capture personal and financial information
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