The State Pension forms part of the arrangement by the Government to provide benefits to those who have paid National Insurance contributions for a number of years. Regular payments are given to pensioners after they reach a certain age, even if they continue to keep working. State Pension is usually paid every four weeks, unless the person is paid in arrears, meaning someone is paid for the last four weeks, instead of the coming four weeks.
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Pensioners can receive, at the most, £134.25 per week.
This is a recent increase because of a change in tax year.
The day your State Pension is paid is dependent on your National Insurance (NI) number.
Pensioners are told to look at the last two digits of their NI number to determine when they will be paid.
If the last two digits are between 00 to 19, you can expect to be paid on a Monday.
If 20 to 39, you will be paid on a Tuesday.
For those with numbers from 40 to 59, you will receive payment on a Wednesday, 60 to 79 on a Thursday, and 80 to 99 on a Friday.
However, if falling on a weekend or bank holiday, your payment date could change.
In 2020, bank holidays have bookended the Easter weekend.
Memorable bank holiday dates are Friday, April 10 – Good Friday – and Monday, April 13 – Easter Monday.
People will not be able to receive payments on these dates, which means an alternative date has been set.
Those entitled to State Pension can expect to be paid on Thursday, April 9.
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This is because the government tends to pay benefits at an earlier date when disrupted by a Bank Holiday.
April 9 is the last working day before the Easter Bank Holiday, meaning most payments will be processed then.
The Department for Work and Pensions (DWP) has confirmed pensioners and others entitled to benefits will not need to take any action to receive this earlier payment.
This change will affect those due to be paid on a Friday or Monday.
The State Pension is also set to undergo another major change within the next month.
The age to receive the State Pension has usually been 65, however, the government is currently in the process of raising this age to 66.
By October 2020, the age for State Pension entitlement will be set at 66, with plans to raise this age to 68 in the coming years.
Those immediately affected will be adults born between July 6, 1954 and August 5, 1954.
This age group will see their qualifying age rise immediately from 65 to 66.
State Pension is unaffected by the coronavirus outbreak.
This is because stock market fluctuations have no bearing on the pension claim or amount.
People are being encouraged to claim over the phone and online in the midst of the upheaval.
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