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Highlights
- DWP is set to provide eligible people with cost-of-living payments by putting £324 directly into their bank accounts.
- The payments make up for the second portion of a £650 sum of money given to the eligible people.
- The claimants of DWP are expected to get their second set of cost-of-living payments by 23 November.
Amid the escalating inflationary crisis, the Department for Work and Pensions (DWP) is set to provide eligible people with cost-of-living payments by putting £324 directly into their bank accounts from Tuesday. Even though one doesn’t have to apply for these payments, but warnings have been issued regarding people being scammed to apply.
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The payments make up for the second portion of a £650 sum of money being given to those eligible for benefits like income support, universal credit, pension credit, working tax credit etc. People have already received payments of £326 from the DWP and HMRC. The claimants of DWP are expected to get their second set of cost-of-living payments by 23 November. By 30 November, the payments should be received.
Due to complicated conditions, a minor section of people might get their payments after 23 November. According to DWP, the cases where payments might be delayed include invalid account information and winning retrospective claims on appeals after initial denial.
Work and Pensions Secretary Mel Stride reportedly said that millions of economically weaker households would be helped through these cost-of-living payments over the rough winter months. The support package also comprises a discount worth £400 on household energy bills that is being paid to them in monthly instalments, which will continue till March.
Kalkine Media® deep dives further to explore some of the stocks listed on the London Stock Exchange.
Telecom Plus plc (LON: TEP)
The FTSE250-listed company operating as a utility warehouse, Telecom Plus plc, has a market cap of £1,733.68 as of 8 November. Trading at GBX 2,170.00, TEP shares were down by 0.69%, or 15 points, as the market opened at around 8:00 AM(GMT) on Tuesday. Telecom Plus has given a yearly return of 69.66% as of 8 November, while its YTD (year to date) return stands at 37.77%. The company’s EPS (earning per share) at the time of writing stands at 0.45.
RPS Group plc (LON:RPS)
The company offering professional services globally, RPS Group plc, has a market cap of £610.52 as of 8 November. RPS shares were trading at GBX 220.00 as the market opened at around 8:00 AM(GMT) on Tuesday. The group has given a yearly return of 74.65% as of 8 November, while its YTD return stands at 77.75%. The company’s EPS at the time of writing stands at 0.02.
Pearson plc (LON: PSON)
The FTSE100-listed company providing educational resources and learning technologies, Pearson plc, has a market cap of £6,832.63 as of 8 November. Trading at GBX 950.40, PSON shares were up by 0.27%, or 2.60 points, as the market opened at around 8:00 AM(GMT) on Tuesday. The group has given a yearly return of 60.49% as of 8 November, while its YTD return stands at 54.99%. The company’s EPS at the time of writing stands at 0.21.
