State pension payments to be made early for some this week – are you affected?
State pension: Expert discusses when payments are made
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State pension payments are usually issued every four weeks to those who are eligible. The payments are issued between Monday to Friday, with many people looking out for when these arrive. However, it is worth noting there will be some level of disruption with payments in the coming week.
This is due to the fact Christmas is just around the corner, with the Department for Work and Pensions (DWP) temporarily shutting over this time.
Usually, Britons can expect their payments to arrive on the same day each month, but there is a slight change confirmed by the Department.
This year, Christmas falls on the weekend, namely Saturday, December 25, with Boxing Day on Sunday, December 26.
This means Monday, December 27 and Tuesday, December 28 are classed as Bank Holidays, potentially impacting those hoping to receive their payments then.
However, individuals should not be alarmed about missing out on their entitlement.
This is because every year the DWP takes steps to ensure people are not left out of pocket.
Therefore, those expecting a payment on Monday and Tuesday of next week could get their money sooner.
The state pension payment for these individuals is likely to be issued on Christmas Eve, Friday, December 24.
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This is because this is the last working day before the festive break which will ensure Britons get their money in time.
Some people may be unsure as to when their state pension payment is actually due.
Thankfully, the Government has provided some details which are likely to help guide state pensioners.
Individuals should check the last two digits of their National Insurance number if they want to determine when they will be paid.
If these are 00 to 19, Monday is the payment day, while digits 20 to 39 mean payment falls on a Tuesday.
The digits 40 to 59 mean a Wednesday payment, with 60 to 79 a Thursday pay day.
Finally, the digits 80 to 99 usually signify a person can expect their state pension payment on a Friday.
As a result, then, those with the digits 00 to 39 are most likely to be impacted by the Christmas payment date changes.
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The Government states: “Benefits are usually paid straight into your bank, building society or credit union account.
“If your payment date is on a weekend or a bank holiday you’ll usually be paid on the working day before.”
The new state pension is usually paid in arrears, meaning someone is paid for the last four weeks, rather than the coming four weeks.
Those who are unsure about their payments or have questions can contact the Pension Service for further assistance.
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