The second cost of living payment worth £324 will be paid to UK households on October 1.

The support package, which was announced in May by then-Chancellor Rishi Sunak, is the second half of a £650 grant for homes hit by rising energy prices.

After previously only listing the date of the payment as in autumn, national newspapers are today reporting it will arrive in bank accounts on Saturday, October 1.

It will be paid to all households on means-tested benefits.

Chancellor Kwasi Kwarteng. The £650 cost of living payments were first announced in MAy by then Chancellor Rishi Sunak, who was succeeded by Nadhim Zahawi, and now Kwasi Kwarteng.

placeholder image — Chancellor Kwasi Kwarteng. The £650 cost of living payments were first announced in MAy by then Chancellor Rishi Sunak, who was succeeded by Nadhim Zahawi, and now Kwasi Kwarteng.

This includes Universal Credit, Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit and Pension Credit.

The money is available for some 71,100 families in Sheffield, the bulk of whom are in receipt of universal credit.

If you only receive tax credits, you should still be set to receive the first instalment, and the second payment will not come until the winter.

Am I eligible for the second cost of living payment of £324?

To be eligible for the first instalment, claimants needed to have been in receipt of one of these benefits, or have begun a claim which is later successful, as of May 25, 2022.

The Government claims the payments, combined with a recently paid out £150 disability sum and £300 winter fuel scheme for pensioners in November and December will add up to £1,200 for hard-up households.

It comes after newly-appointed Prime Minister Liz Truss recently froze the energy price cap at £2,500 annually for the average household, paid for by what could amount to over £100 billion in borrowing.