Pensioners could get up to £1,350 in cost of living payments

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To help households struggling with soaring inflation and energy bills, the Government has launched multiple support payments. This cost of living support is reserved for pensioners, people with disabilities and those on means-tested benefits from the Department for Work and Pensions (DWP). While not every person can claim each of the cost of living payments, totalling £1,350, some pensioners may be able to.

Pensioner payment

All older people in the UK will be able to claim an additional £300 cost of living payment in the next couple of months.

This has been targeted at pensioners due to them being a vulnerable group in light of inflation-hiked prices and soaring energy bills.

On top of this, older households are set to enjoy a 10.5 percent payment rate hike to their state pensions with the return of the triple lock.

This increase is also being applied to other benefit payments, including Pension Credit for those on low income.

Means-tested benefit payment

People on certain DWP payments can claim to get a £900 sum in 2023 to help the hike in prices for goods and services.

In 2022, a similar cost of living payment was administered for those on means-tested benefit payments but this was £650 for the year.

Examples of the qualifying payments include Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Universal Credit, Working Tax Credit, Child Tax Credit and Pension Credit.

An older person in receipt of Pension Credit would therefore be eligible for the £900 in financial assistance.

Disability payment

Similar to the other amounts, the Government is continuing its cost of living support for those with a disability.

This £150 sum is the exact same that was offered to recipients last year and no rate has been awarded.

To get this payment, claimants must be on one of the following benefits: Attendance Allowance, Constant Attendance Allowance, Disability Living Allowance for adults

Disability Living Allowance for children, Personal Independence Payment (PIP), Adult Disability Payment (in Scotland), Child Disability Payment (in Scotland), Armed Forces Independence Payment, and War Pension Mobility Supplement.

It should be noted that recipients of the £150 cost of living payment must have claimed one of the above benefits before a particular date.

READ MORE: Recession fears continue despite UK economy growing

Experts are reminding the public to make sure they are receiving all the cost of living support they are entitled to in 2023.

Laura Suter, the head of personal finance, broke down how some pensioners will be some “getting a bigger handout” depending on their eligibility.

She explained: “Those on Universal Credit and certain other benefits will receive £900 to help with the cost of living, an increase on 2022’s £650 payment.

“Pensioners and those on disability benefits will get the same as this year, getting £300 and £150 respectively.

“Some people will be eligible for all three payments, meaning the maximum you can claim is £1,350.”

Recently, the Government confirmed when these payments would be rolled out to qualifying households in the year.

Currently, this is the timeframe for 2023/24 cost of living payments being offered by the Government:

  • £301 – First 2023/24 Cost of Living Payment – during Spring 2023
  • £150 – 2023 Disability Payment – during Summer 2023
  • £300 – Second 2023/24 Cost of Living Payment – during Autumn 2023
  • £300 – 2023 Pensioner Payment – during Winter 2023/4
  • £299 – Third 2023/24 Cost of Living Payment – during Spring 2024.

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