Martin Lewis predicts when DWP £900 cost of living payments will be made

TV money-saving expert Martin Lewis has predicted when he thinks the new £900 cost of living payments will arrive.

Mr Lewis took a break from social media for the festive season but returned this week to help millions of Britons with advice tp help get through the cost of living crisis.

The Department of Work and Pensions (DWP), announced that eligible claimants on means-tested benefits will receive a £900 cost of living payment split into three payments - £301, £300 and £299.

The DWP confirmed the first two payments will be made this spring and autumn with the final lump sum due next spring.

Updating his 2.1 million followers, Mr Lewis predicted the first installment of £301 will fall after the tax year - April 6 - and the autumn payment of £300 would be in October or November.

The final payment of £299 in spring 2024 payment will fall before April 6, he believes.

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Mr Lewis tweeted: “UPDATE: On the £900 cost of living payment for 8m on means-tested benefits. It'll come in 3 installments

- £301 'Spring' 23 (as it’s for the next tax year, it'll be after 6 April)

- £300 'Autumn' 23 (I'd guess Oct/Nov)

- £299 'Spring' 24 (I'd guess before tax year ends on 6 April)”

Mr Lewis added that the payments are in different amounts instead of being split evenly, so it is easier to pinpoint any problems with payments.

Eligible claimants do not need to apply for any cost of living payment, as payments will be made automatically.

If you receive a text message, email or phone call asking you to apply, it is a scam.

The payments will be tax-free, will not count towards the benefit cap, and will not have any impact on existing benefit awards.