DWP confirms dates of next three £150 cost of living payments

Cost of living: Shopper on using £2 vegetable boxes

The Department for Work and Pensions (DWP) has confirmed the next three payment dates for anyone receiving one of the nine disability benefits that is struggling to meet ends meet.

A one-off add-on payment will be made on June 20, in conjunction with a separate £301 payment aimed at alleviating the cost of living, which was handed out to eight million households earlier this year.

While three further cost-of-living payments will be made over the next year.

The next payment window for a £300 cost of living payment is expected to be made in autumn 2023, while the £300 pensioner payment is due to be paid in winter 2023/2024.

A £299 cost of living payment, the third one, will be paid next spring.

A recent study by the Financial Conduct Authority indicates that a staggering 10 million Britons are grappling with their financial obligations.

The Independent highlights the rising cost of goods, both on the high street and in supermarkets, resulting in consumers struggling to meet bill payments.

The Energy Price Guarantee, meanwhile, will see the price cap settle at £2,074 in July. While this may be a substantial decrease from the previous cap of £3,280 set earlier in the year, it’s still crucial to be aware of our standing on energy bills, even in the warmer months when heating use declines.

Ofgem has highlighted that the cap relates to the energy unit price and not total bills, meaning the decrease will primarily affect wholesale prices before reaching households.

According to energy market experts Cornwall Insight, the July decrease will likely be followed by another drop in October, taking the average annual bill down to £1,976.

However, they anticipate a rise to £2,045 by January, with no return to pre-pandemic levels expected until the decade’s end, due in part to geopolitical events such as the conflict in Ukraine.

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