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Take bonus of £183 and risk losing £301 cost of living spring payment?

My employer has kindly given us a backdated pay rise to assist with the cost of living but I am worried if I take it the £183 lump payment this month I will lose out on the spring cost of living payment. I am already borderline and only get around £200 a month. The following month I earn £500 less as my second job ends but my employer won't delay paying as they said it would be potentially fraudulent and my issue.
Is a bird in the hand worth 2 in the bush?  

Comments

  • NedS
    NedS Posts: 5,328 Ambassador
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 14 March 2023 at 3:18PM
    How about asking your employer to pay the bonus into your pension for you so that you still receive it (plus tax relief on it) but reduce your net earnings for UC purposes?
    Further, an increase in salary of £183 net will only reduce your UC by £183 x 0.55 = £100.65, so if you currently receive around £200/month UC, this would drop to around £100 for that month, still entitling you to the CoL payment.
    I am a Forum Ambassador and I support the Forum Team on the Benefits & tax credits, Heat pumps and Green & Ethical MoneySaving forums. If you need any help on those boards, do let me know. Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
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