The UK government has confirmed that millions of households will receive a £299 cost-of-living payment in February next year. This payment is the third of up to three cost-of-living payments, totaling £900, for eligible individuals on means-tested benefits in the current financial year. The Department for Work and Pensions (DWP) will automatically send the payments to around eight million households between February 6 and February 22, 2024.

To be eligible for the £299 cost-of-living payment, individuals must have been entitled to a payment for a qualifying benefit between November 13 and December 12, or payment for an assessment period ending between these dates. Qualifying benefits include Universal Credit, Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit, and Pension Credit.

The DWP encourages low-income pensioners who are not already receiving Pension Credit to check their eligibility, as claiming Pension Credit could make them eligible for the cost-of-living payment in February. If individuals believe they should receive the payment but don’t, they can report it via gov.uk from February 23.

The payment reference for bank accounts will be the recipient’s National Insurance Number followed by the code “DWP COL”.