DWP warns of upcoming deadline to qualify for £299 cost of living payment

The money will hit accounts next year, but you could miss out if you don't act

People are being warned about an upcoming deadline which could see them miss out on a vital cost of living payment. The Department for Work and Pensions (DWP) this week confirmed details of a £299 cost of living coming next year.

The money will be sent out to millions of people on means-tested benefits from February 6, 2024 and is the third instalment of a combined £900 support package being delivered between March 2023 and next spring. You can read full details of the upcoming payment including who qualifies here.

While millions of people including those on universal credit will qualify for the money, certain groups are being warned of an upcoming deadline for a common benefit that could also see them become eligible for the cost of living payment. The deadline applies to those who might be missing out on pension credit, which is a qualifying benefit for the £299 payment.

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According to MoneySavingExpert, if you were of state pension age between November 13 and December 12, 2023 you should check if you can get pension credit, which tops up low-income pensioners. To get the latest money stories straight to your inbox twice a week sign up to our newsletter here.

If you are over 65 and reached your state pension age before April 6, 2016, you could still qualify for pension credit if your weekly income is less than £240.90 if you are single or £351.45 if you are a couple. You can find out more about pension credit here.

If you're eligible for pension credit you will still qualify for the third cost of living payment if you make a claim for pension credit by March 5, 2024 and request for it to be backdated. After your claim is approved, you'll get the £299 payment automatically. Around 800,000 people are thought to be missing out on pension credit even though they could be eligible. Pension credit is worth around £3,900 a year on average and unlocks many other benefits such as council tax reductions and help with energy costs.