THE upcoming bank holiday Monday could mean that you get your state pension paid early this week.
The day you recieve your pension money on is dictated by your National Insurance number.
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The last two digits of your national insurance number usually show what day your state pension is paid on.
If those digits are between 00 and 19, the day your state pension is paid is on a Monday.
It’s Tuesday if they are between 20 and 39, and Wednesday if the digits are between 40 and 59.
60 to 79 are paid on a Thursday and numbers 80 to 99 are usually paid on Fridays.
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As this Monday is a bank holiday, those who are usually paid on this day of the week won’t receive their money then.
Instead, the government will bring the payment day forward a few days.
This is because payments cannot be processed on August 30 due to the banks being closed.
As a result, the DWP has said pensioners can expect to instead be paid today, Friday, August 27.
The reason for today’s payment is because it is the last working day before the three-day bank holiday weekend.
If your National Insurance number ends in digits between 00 to 19 then you are likely to be affected by this change.
Regardless of the changes in date you won’t have to take any action in order to receive the early payment.
This is because it is something that the DWP will action automatically.
Payments should be placed straight into your bank, building society or credit union account and you won’t have to worry about changing any details to make sure you get what you’re owed.
And if your payment date falls on a normal day that’s not a bank holiday, then you’ll get your payment as normal.
What other bank holidays could affect my state pension payments?
There are a number of bank holidays throughout the year, with the Christmas bank holiday the next one we’ll see after August.
Here is the full list of upcoming holidays for the rest of the year:
- August 30
- December 27
- December 28
- January 3, 2022
In most of these cases, the DWP says if your payment is due on a bank holiday you’ll be paid on the working day before.
It comes as the state pension is set to hit £185 despite the threat to the triple lock.
If the triple lock is scrapped retirees could lose £12,000.
Universal Credit and other benefit payment dates can change too because of the bank holidays.
How much is the state pension and how much will it rise next April?
