What is the £324 cost of living payment and who qualifies for it?

Eight million people on low incomes will start to receive payments

Eight million people on low incomes will start to receive payments of £324 from Tuesday as part of targeted government cost-of-living support.

The payment will go directly into the bank accounts of people who receive certain benefits between 8 and 23 November.

Here is everything you need to know about the payment:

What is the £324 payment?

The £324 payment is being given out to help low income households with the rising cost-of-living.

It is the second part of a £650 sum paid out to people who receive certain payments.

Who qualifies for the payment?

The £324 is being paid out to people receiving universal credit, income-based jobseeker’s allowance, income-related employment and support allowance, income support, pension credit, child tax credit and working tax credit.

To be eligible, people must have been claiming or be entitled to a benefits payment between 26 August and 25 September.

If you qualify for the cost-of-living payment you don’t need to do anything to receive it (PA)

Pensioner households however may be able to have a new pension credit claim backdated.

People who only receive new style employment and support allowance, contributory employment and support allowance, or new style jobseeker’s allowance will not be eligible for the payments.

How do I get it?

If you qualify for the cost-of-living payment then you don’t need to do anything to receive it. The Department for Work and Pensions will start making the payments directly into people’s bank accounts from Tuesday.

As you don’t need to do anything, watch out for texts or emails from scammers inviting you to make an application to get the payment.

When will I get the money?

The payment will be made into bank accounts between 8 and 23 November.

Those who qualify via tax credits will receive it by the end of the month.