Every key money change in October from DWP support cuts to rising energy bills

As winter approaches, the Government traditionally begins to offer support to the most financially vulnerable households

From October, a raft of financial changes will hit millions of households across the UK. Keeping tabs on these shifts, who they affect and when can be a daunting task.

As the chill of winter draws near, the Government typically starts to provide aid to the most financially vulnerable households. However, other changes could see people losing out, forcing families to tighten their purse strings just as they begin to turn up their heating and start prepping for Christmas, the priciest time of year.

Some of these adjustments will primarily impact low-income households, such as those on benefits, while others will affect pensioners. Here's a breakdown of some of the changes you can anticipate in the upcoming weeks, according to Birmingham Live.

Energy bills

In yet another setback for millions of households, energy bills are set to rise again from October. The regulator Ofgem has hiked the Energy Price cap, which means average bills will surge by £149 annually.

The rate at which households will feel the pinch of this increase hinges on how they settle their bills. Those who pay via direct debit may not witness an immediate hike, but suppliers are likely to ramp up bills further down the line.

Winter Fuel Payments

Winter Fuel Payments, which can be worth up to £300, were previously given to all pensioners. However, they are now being phased out for everyone except the poorest.

This year, only those receiving Pension Credit and other benefits will be eligible for support. Charities have raised concerns that this could leave approximately two million pensioners who narrowly miss the qualifying threshold struggling to cope this winter.

Adding to the problem, hundreds of thousands of pensioners fail to claim Pension Credit despite being eligible, meaning they risk missing out on winter fuel money to which they are entitled.

Warm Home Discount

The Warm Home Discount scheme, which provides some of the poorest pensioners and households with a one-time £150 reduction in their bills during winter, is set to launch again from October.

The discount can be applied at any point between October and March, with energy companies deciding when to implement it. Pensioners who receive the Guarantee Credit element of Pension Credit qualify, as do some people on benefits like Universal Credit if they also have high energy costs.

This is determined by energy companies. Those who qualify for support will receive letters.

Household Support Fund

Local councils will be making cost of living payments through the Household Support Fund (HSF). The fund, which is financed by the Government, has been confirmed to extend into the winter.

While some councils may kick-start their funds from October, others might not roll them out until nearer to Christmas. Households are encouraged to visit their local authority's online cost of living support pages for comprehensive information.

This is where applications can be lodged once the fund is open. Generally, applicants need to prove that they're facing financial difficulties and struggling to cover basic needs like food, gas, and electricity.