What you need to know about £650 cost of living grant
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What you need to know about £650 cost of living grant

Pound coins and money
The cost of living in the UK has soared leaving many households struggling (Picture: Getty)

Chancellor Rishi Sunak has revealed a range of extra support measures in response to the cost-of-living issue that is affecting millions of households across the UK.

Families are seeing hundreds to thousands of pounds added to their regular bills as the cost of gasoline, energy bills, supermarket prices, and other items rise.

In May, the Chancellor of the Exchequer confirmed a one-off £650 cost of living payment to support people who are struggling the greatest in order to help combat the financial crisis.

‘We need to make sure that individuals whose fight is too difficult and whose risks are too severe are supported,’ Rishi said.

Eight million of the UK’s poorest households will benefit from the payout.

So, when will individuals who qualify for the £650 cost of living subsidy receive it? Is it necessary for you to apply for it?

When do you get the £650 cost of living grant?

Rishi Sunak outside 10 Downing Street
Rishi Sunak confirmed a £650 grant for those who need it most (Picture: Getty)

The money will be distributed in two installments to eligible households.

Those who have been anticipating it will receive the first installment in July and the second in the autumn, with the specific month to be determined.

The money will be tax-free and will have no impact on existing benefit caps or awards.

Who is eligible for the cost of living grant?

Entering pin into card machine
Cost of living: the £650 grant will be paid over two instalments (Picture: Getty Images)

The grant will be received by those households who receive means-tested benefits.

This includes the following:

  • Universal Credit
  • Income-based Jobseekers’ Allowance
  • Income Support
  • Working tax credit
  • Income-related employment and support allowance
  • Child tax credit
  • Pension credit

Do you need to apply for the cost of living grant?

No, if you are eligible for the grant, you will be automatically paid £650 in two installments.

‘Our proposal will offer a greater average payout this year of £650, whereas increasing the same benefits by 9% would only be worth £530 on average,’ added the Chancellor.

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