The summer bank holiday in August will disrupt payments for some pensioners.
The August summer bank holiday may disrupt State Pension payments for some pensioners (Image: Getty)
The Department for Work and Pensions (DWP) will be sending unexpected early payments of up to £965 to some state pensioners on the last Friday in August.
The early payments come as a result of the August summer bank holiday, which falls at the beginning of next month if you live in Scotland and at the end of the month in England, Wales and Northern Ireland. Scotland observes the summer bank holiday on Monday, August 3, four weeks earlier than the rest of the UK. When benefit payments, including the State Pension, are due to be paid on the same date that a bank holiday falls, the DWP will instead issue the payment on the earliest working day before.
But the DWP has today confirmed to the Express that only the late bank holiday will affect payments, not the early date.
The DWP told the Express on Friday: “Payments will still process as they do for other Scottish Bank Holidays. Government Banking have confirmed that Bacs does not close for Scottish only Bank Holidays. Scottish customers who would normally receive their payment on the 3rd will still receive it on the 3rd.”
Following a 4.8% uplift on April 6, the full new State Pension is now worth £241.30 per week, while the full basic State Pension is worth £184.90.
As the State Pension is paid every four weeks, it means those who receive the new State Pension can get up to £965.20 in each four-week payment period from the DWP, while older pensioners who get the basic State Pension can get up to £705.80 every four weeks.
Of course, these amounts are based on a full National Insurance record, so those who don’t have enough qualifying years will receive less than these amounts.
For all pensioners in England, Scotland, Wales and Northern Ireland, State Pension payments may be disrupted due to the August summer bank holiday, affecting those expecting to be paid at the end of the month on Monday, August 31.
Pensioners with payments due on this date will instead be paid on the earliest working day before, which will be Friday, August 28.
The DWP said: “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.”
Pensioners can determine their usual State Pension payment day by looking for the two-digit code at the end of their National Insurance number, as this specifies the date on which payments are normally issued. This is how National Insurance numbers correspond to payment days:
- 00 to 19 – paid on Monday
- 20 to 39 – paid on Tuesday
- 40 to 59 – paid on Wednesday
- 60 to 79 – paid on Thursday
- 80 to 99 – paid on Friday
So if your National Insurance number ends in 00 to 19, it means your usual payment date falls on a Monday, meaning it may coincide with the August bank holidays.
If your State Pension payment date is changing due to the August summer bank holiday, you don’t need to do anything as your money will be paid straight into your usual bank, building society or credit union account.
The DWP added: “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 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.”