The Department for Work and Pensions (DWP) is implementing changes to Basic and New State Pension payments starting this Friday, May 1. The adjustments affect individuals born before 1960 and are prompted by the upcoming early and late May bank holidays.
Payments originally scheduled for Monday, May 4, and Monday, May 25, will be made earlier. Recipients will receive their payments on the last working day before the three-day weekend, meaning payments will now arrive on May 1 and May 22.
Impact on Other Benefits
The change is not limited to state pensions. Other benefits, including Universal Credit, Disability Living Allowance (DLA), Personal Independence Payment (PIP), Attendance Allowance, and Carer's Allowance, are also affected. Benefits are typically paid directly into bank, building society, or credit union accounts.
If a payment date falls on a weekend or bank holiday, it is usually paid on the preceding working day. This may differ for Child Benefit.
State Pension Payment Details
The state pension is paid every four weeks based on National Insurance contributions. The DWP states: "The basic State Pension is usually paid every 4 weeks into an account of your choice. If you want to change the account, tell the Pension Service."
The payment day depends on the last two digits of your National Insurance number. For example, if the last two digits are between 00 and 19, payments are made on Monday. This group is affected by the bank holiday changes.
When claiming a deferred State Pension, you will be asked when you want it to begin. The first payment is made at the end of the first full week in which you start receiving your pension.
