State pensioners will see their payments arrive early next month due to the August bank holiday, marking the first change to the state pension under the new government of Prime Minister Andy Burnham.
Early Payments Confirmed for August Bank Holiday
The Department for Work and Pensions (DWP), HMRC and Social Security Scotland have confirmed that scheduled payments due on Monday, August 31 will be made early. DWP offices and phone lines will be closed over the bank holiday, so payments are typically processed when all services are available, including webchat and Jobcentre Plus offices.
Payments due on August 31 will land in bank accounts on Friday, August 28. This will be the second payment of Mr Burnham's new Labour Party premiership, but the first change to the state pension under the new PM.
State Pension Payment Rates and Schedule
The state pension is paid at two rates: the old basic rate and the new full amount. According to the DWP: “You’ll be asked when you want to start getting your State Pension when you claim. Your first payment will be no later than 5 weeks after the date you choose. You’ll get a full payment every 4 weeks after that. You might get part of a payment before your first full payment. The letter confirming your State Pension payment will tell you what to expect.”
The DWP added: “The day your pension is paid depends on your National Insurance number. You might be paid earlier if your normal payment day is a bank holiday.”
General Guidance on Payment Dates
The DWP also stated: “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.” Payment dates are based on National Insurance contributions, with the final two digits of the NI number determining the payment day.
