Hinckley & Rugby Building Society has given staff a one-off payment of almost 拢700 to help them through the cost-of-living crisis.

As day-to-day prices keep going up and the average household鈥檚 yearly home energy bill set to rise from 拢1,971 to 拢3,549 from October, almost 150 staff, from across the mutual's head office and branch network in Leicestershire and Warwickshire, will get the money with their August salaries. The extra payment will not be given to executive committee members or board members.

Chief executive Colin Fyfe said: 鈥淥ur purpose is, and always will be, to support the financial security of our members. This is only possible by ensuring that our staff are supported to provide the high standards of service which benefit our members.

READ MORE: Cost of Living: List of firms helping staff with bonus payments

鈥淎nd, as inflation continues to rise, we recognise that our staff too are feeling the pinch and may be anticipating difficulty over the next few months and beyond.

鈥淜nowing the clear link between financial pressures and poor mental health, we believe that this payment, in addition to other measures we have introduced, will provide some welcome support.鈥

Earlier this year, the society launched a grant scheme giving staff in particular need of financial help the chance to apply for up to 拢1,000 of support.

The latest Ofgem home energy cap will come into effect on October 1, but Ofgem warned that some suppliers could start to increase direct debits before then to spread costs.

It will remain in place until December 31, when it will be adjusted again, with latest forecasts warning bills could surge again to around 拢5,400 in January and around 拢7,000 in April.

The regulator, energy sector and charities have been united in calling on the Government to increase its support for households who were facing 鈥渢he bleakest of winters鈥.

Ofgem鈥檚 chief executive Jonathan Brearley urged the incoming prime minister and new Cabinet 鈥渢o provide an additional and urgent response to continued surging energy prices鈥.

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