Laura Suter, the head of personal finance at AJ Bell, outlined why next year’s cost of living payment for Universal Credit claimants is welcome.
She explained: “Anyone eligible for the cost-of-living payments this year will also get a payout next year, with some getting a bigger handout.
“Those on Universal Credit and certain other benefits will receive £900 to help with the cost of living, an increase on 2022’s £650 payment.
“Pensioners and those on disability benefits will get the same as this year, getting £300 and £150 respectively. Some people will be eligible for all three payments, meaning the maximum you can claim is £1,350.”