Pensioner Cost of Living Payment

Posted on 7th December 2023 by Streets Income Tax


Image to represent Pensioner Cost of Living Payment

The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year were published earlier this year and have recently been updated.

Eligible recipients will receive up to three Cost of Living Payments of £301, £300 and £299 during the course of the current tax-year. This includes those receiving pension credit and these payments will be made separately from other benefit payments. The first payment of £301 was made between April-May 2023 and the second payment of £300 was paid during August-September 2023. The third payment of £299 is due to be paid during spring 2024.

An additional one-off payment of £150 or £300 will be paid to pensioners during winter 2023-24. The Winter Fuel Payment is provided by the government to help older people keep warm during winter. The amount a pensioner will receive depends on a number of factors including their age and the age of other people living with them. You can receive a Winter Fuel Payment for winter 2023-24 if you were born before 25 September 1957. HMRC completed writing to eligible recipients, at the end of November, telling them how much to expect as their payment.


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