Cost of living

2023 - 1 - 4

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Image courtesy of "Nottinghamshire Live"

Martin Lewis explains 'clever' cost of living payment differences (Nottinghamshire Live)

The Money Saving Expert founder spoke out over £900 DWP payouts, which are set to go into accounts in 2023/24 and gave more exact dates.

The DWP added: “If individuals are eligible they will be paid automatically, and there will be no need to apply. The government says exact payment windows will be announced closer to the time. The new £900 cash boost is for over eight million eligible means-tested benefits claimants, including those on Universal Credit, Pension Credit and tax credits, and starts in Spring. The Department for Work and Pensions (DWP) only gave very broad ‘seasons’ as to when the money will go into people’s accounts - whereas Mr Lewis gave his more exact predictions. Actually 40 per cent-ish of those on Universal Credit are working - means tested benefits includes in-work benefits. Martin Lewis has explained a key point about the different amounts of the £900 cost of living payment, which is going to be made to more than eight million people.

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Image courtesy of "Shropshire Council Newsroom"

Government announces cost of living support for lowest income ... (Shropshire Council Newsroom)

Millions of the lowest-income households across the UK will get up to £1350 from the Government in 2023/4 to help with the cost of living.

- £300 – Second Cost of Living Payment – during Autumn 2023 - £301 – First Cost of Living Payment – during Spring 2023 There will also be a separate £150 for over six million people with disabilities; and £300 for over eight million pensioners, on top of their Winter Fuel Payments.

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Image courtesy of "Horsetalk"

Views of British horse owners sought in cost of living survey ... (Horsetalk)

Survey by the National Equine Welfare Council aims to learn of challenges faced by horse owners and keepers.

This includes what steps they might consider if they cannot afford a horse, pony, donkey or mule in the near future. NEWC intends to use the results from the study to produce a publicly available report highlighting the real challenges and concerns of horse owners and keepers, and how the cost of living impacts horse health and wellbeing. It asks a range of questions about the experiences of owners in the face of rising costs and how they may be adapting to cope.

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Image courtesy of "Scottish Daily Record"

Martin Lewis predicts exact payment dates for new £301, £300 and ... (Scottish Daily Record)

Money-saving expert Martin Lewis has returned from a festive break from social media to share his predictions on when the new £900 cost of living payments ...

No details have been announced for these yet. DWP confirmed that eligible claimants will receive the first two payments this Spring and Autumn with the final lump sum due next Spring. If you receive a text message, email or phone call asking you to apply, it is a scam. The £900 cost of living payment will be paid to eligible households receiving the following qualifying benefits: [Twitter followers](https://twitter.com/MartinSLewis?s=20&t=zC4sPmjbaJ28F7y37oKh4w), Martin predicts that the first payment of £301 will be made after the new financial year begins on April 6, the second for £300 in October or November and the third for £299 before the tax year ends on April 5, 2024. [Department for Work and Pensions](https://www.dailyrecord.co.uk/lifestyle/money/dwp-cost-living-payment-schedule-28857740) (DWP) that eligible claimants on means-tested benefits will start receiving the support this Spring.

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Image courtesy of "BBC News"

Isle of Man vulnerable could get new £300 cost of living payments (BBC News)

Isle of Man pensioners, carers and disabled adults could benefit from a £5.6m package of financial help.

The Manx government said the £300 payments, aimed at "protecting the vulnerable", would be distributed to more than 19,000 people in February. A Treasury spokeswoman said the payment - if approved - would be made automatically next month. More than £5m will be paid out to Isle of Man pensioners, carers and disabled adults to help with rising costs if Tynwald backs the move.

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Image courtesy of "Telegraph.co.uk"

Shell delays payment of cost of living grants until spring ... (Telegraph.co.uk)

The energy giant, which received £90141141 from the Government to give to customers, says the hold up is due to administrative processes.

“Those customers will not miss out on the support,” he added. [record high energy prices](https://www.telegraph.co.uk/business/2022/12/11/power-prices-surge-record-levels-cold-snap-hits/) during the peak months of the heating season, it’s vital any household struggling to pay their bills gets the support they are entitled to, as soon as possible.” “This is likely the case for most suppliers who are applying the discount in the same way and is the result of the way Direct Debit payments were initiated ahead of the scheme start point and the speed with which the Government and suppliers came together to deliver it,” the spokesman said. [Shell Energy Retail received £90,141,141 from the Government](https://www.telegraph.co.uk/business/2022/11/09/handed-90m-taxpayers-energy-price-guarantee/) to pass onto its customers in October, The Telegraph has previously reported. [during the winter months](https://www.telegraph.co.uk/money/consumer-affairs/eight-million-households-will-fall-behind-bills-winter/) when usage is higher due to colder weather. [subsidising households’ energy bills in October](https://www.telegraph.co.uk/money/consumer-affairs/government-energy-bill-rebate-help-pay-how-claim-savings-2022/) to coincide with a sharp rise in the price cap on energy bills. [held to account by the energy regulator Ofgem](https://www.telegraph.co.uk/business/2022/12/13/ofgem-weighs-price-cap-excessive-power-station-profits/) on all matters relating to their business and service to customers and we have asked them to investigate this matter.” He said the delay affected “a few thousand customers” and stressed the discount would be applied to direct debits in April. Shell Energy Retail said the delay was due to administrative processes and said it had advised Ofgem and BEIS of its plans before the scheme started. “The Government has stringent compliance and enforcement measures in place with all suppliers for the Energy Bills Support Scheme and our expectation is that suppliers pass this discount on to customers promptly,” a spokesman for the business department said. Under one of the two main subsidy schemes, it is paying energy suppliers £66-£67 per customer per month to pass on to customers to cut their bills. Shell has delayed the payment of taxpayer energy bill support payments to thousands of its customers, sparking criticism over its role in the cost of living crisis.

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Image courtesy of "Slough and Windsor Observer"

DWP: Universal Credit claimants to get £900 cost of living payment (Slough and Windsor Observer)

The new £900 cash boost for over eight million eligible benefits claimants, including those on Universal Credit, Pension Credit and tax credits.

- Third cost of living payment - £299 – Spring 2024. - Second cost of living payment - £300 – Autumn 2023 - First cost of living payment - £301 – Spring 2023 They will be broadly as follows: [£900 cash boost](https://www.oxfordmail.co.uk/news/national/uk-today/23223776.dwp-reveal-dates-new-1350-cost-living-payments/) for over eight million eligible means-tested benefits claimants, including those on [Universal Credit, Pension Credit and tax credits](https://www.oxfordmail.co.uk/news/national/uk-today/23223776.dwp-reveal-dates-new-1350-cost-living-payments/), starts in Spring and will go direct to bank accounts in three payments over the course of the financial year. It is part of the next round of cost-of-living support unveiled in the Chancellor’s Autumn Statement.

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Image courtesy of "Berkshire Live"

DWP confirms dates of £900 cost of living payment from Spring (Berkshire Live)

This payment will me made to those on benefits including Universal Credit, Pensions Credit, tax credits and the Jobseekers Allowance. Separate to that, a ...

"These payments are on top of above inflation increases to working-age benefits and the Energy Price Guarantee, which is insulating millions from even higher global gas prices. The Work and Pensions Secretary Mel Stride has said: “We are sticking by our promise to protect the most vulnerable and these payments, worth hundreds of pounds, will provide vital support next year for those on the lowest incomes. Exact payment dates are set to be announced closer to the time. The DWP has now set out the broad details of when people can expect the support: More than eight million people are eligible to receive additional help due to the ongoing cost of living crisis. Last year [ benefit claimants ](https://www.getreading.co.uk/all-about/your-money)received £650 in two payments to help with soaring costs.

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Image courtesy of "Accrington Observer"

DWP announces spring cost of living payment with up to £1350 of ... (Accrington Observer)

Some of the lowest-income households in the country could get up to £1350 in support to help in the new financial year.

If you are eligible for the payments, this will land in your bank account automatically and there is no need for you to apply for the funding. "These payments are on top of above inflation increases to working-age benefits and the Energy Price Guarantee, which is insulating millions from even higher global gas prices. Work and Pensions Secretary, Mel Stride said: "We are sticking by our promise to protect the most vulnerable and these payments, worth hundreds of pounds, will provide vital support next year for those on the lowest incomes. Starting in Spring, the money will go into bank accounts in three different payments over the course of the financial year. Exact days for the payments will be made closer to the time, but to ensure consistent support, it will be spread across a longer period. This will follow up to £1,200 in support for over eight million low-income households in 2022.

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Image courtesy of "This is Money"

Retirees forced to go back to work as cost of living leaves thousands ... (This is Money)

New data suggests 10% of retirees expect to take on a part-time job in order to have the retirement they want, while 3.3% will work full-time.

Almost one in five (19.1 per cent) have switched investment strategy to try to maximise their retirement savings, according to AJ Bell. This is because the money purchase annual allowance (MPAA) reduces the amount that can be saved tax-free from £40,000 to £4,000. In total, four in 10 (40 per cent) of those missing out on income were entitled to benefits worth at least £1,000 a year. In fact, six in 10 (62 per cent) of pensioner households eligible for benefits claim nothing at all, according to retirement firm Just Group. More than one in 10 (10.9 per cent) of retirement savers expect to be poorer than they expected when they eventually finish working. Around half of pension savers have had to rethink their plans due to the worsening economic conditions in the UK. One in 10 (9.9 per cent) say they will have to delay their retirement due to the cost of living crisis, , according to analysis by investment firm AJ Bell. Workers are even being forced to dip into their retirement pots to get by during the cost of living crisis, experts warn Ten per cent of retirees now expect to take on a part-time job in order to have the retirement they want, while 3.3 per cent will go back to work full-time. Soaring bills mean many pension savers are being forced to take the difficult decision to go back to work just to make ends meet [poor performance of many pension pots](/money/pensions/article-11587939/One-million-older-workers-face-new-pensions-misery.html), as well as [soaring energy bills](/money/bills/article-11598063/Energy-bills-fall-3-000-year-July.html) and food prices [increasing at a record rate](/money/markets/article-11597759/BUSINESS-LIVE-Food-prices-soar-Embattled-Home-REIT-shake-up.html), have left many pensioners unable to afford to stop working. Almost a quarter of retirees are being forced to delay their retirement, retire only partially or go back to work due to the increased cost of living, research shows.

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Image courtesy of "BBC News"

Cost of living: Comedians stand up in Ipswich for food banks (BBC News)

The audience is asked to bring and donate items for food banks rather than pay an entrance fee.

"We need to do something that will help now... He said comedians wanted to do a "little thing to help". Suffolk-based comedian Louie Green said members of the audience reserved their seats beforehand and needed to turn up with a donation of a "bag of life" of non-perishable food and sanitary items.

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