The Department for Work and Pensions (DWP) has confirmed that state pensioners whose payment date falls on 31 August will receive their money two days early, on 28 August. The change applies to individuals with National Insurance numbers ending in 00 to 19, which correspond to the Monday payment schedule.
Reason for the Early Payment
The early payment is linked to the August bank holiday, which falls on 31 August this year. In a statement, Labour Party minister Sir Stephen Timms said: "We're pleased to confirm that benefit payments due on the August bank holiday will be paid earlier. This will help ensure families and older people receive their money without disruption over the bank holiday period."
Timms added: "This government is determined to ensure people up and down the country have the support and breathing room they need, which is why we’ve acted to take money off energy bills, increase the National Minimum Wage and lift half a million children out of poverty, as well as supporting people into good, secure jobs."
How Payment Days Are Determined
The state pension is typically paid every four weeks in arrears. The day of payment depends on the last two digits of the National Insurance number: 00 to 19 means Monday, 20 to 39 means Tuesday, 40 to 59 means Wednesday, 60 to 79 means Thursday, and 80 to 99 means Friday. The DWP website confirms that if the normal payment day falls on a bank holiday, payments may be made earlier.
Qualifying for the New State Pension
To receive the new State Pension, individuals usually need at least 10 qualifying years on their National Insurance record. Those who were contracted out before 6 April 2016 may receive less than the full new State Pension. The change affects payments due in August, with those affected receiving their money on 28 August instead of 31 August.
