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State Pension payments may be disrupted in August due to the summer bank holiday (Image: Getty)
The Department for Work and Pensions (DWP) has confirmed State Pension payments of up to £965 for pensioners in August based on a two-digit code.
Following a 4.8% uplift at the start of the new tax year, the full new State Pension is now worth £241.30 per week and as it is paid by the DWP every four weeks, it means eligible pensioners can get up to £965.20 in each four-week payment period.
The old basic State Pension also increased earlier this year, rising to £184.90 to give those eligible for the full amount £739.60 every four weeks. Of course, these amounts are based on a full National Insurance record so those without enough qualifying years will receive less from the DWP.
The new rates came into effect on April 6 and pensioners will continue to reap the benefits of these in August – and every month that follows until next April.
The State Pension is typically paid every four weeks and when you first claim it, you choose the date when you want to receive your payment.
Pensioners can determine when they can expect their State Pension to be paid based on the two-digit code at the end of their National Insurance number, as this specifies the date when payments are normally issued.
The DWP has confirmed these two-digit codes at the end of National Insurance numbers correspond to the following 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 19, for example, you can expect to get your State Pension payment from the DWP on a Monday in August. This will usually be four weeks after your last payment in July.
The DWP said: “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.”
However, State Pension payments can sometimes be disrupted from month to month due to bank holidays, meaning pensioners have to make their cash last a little longer before their next payment arrives.
In August, the summer bank holiday falls on Monday, August 31, if you live in England, Wales or Northern Ireland, while in Scotland, the bank holiday comes at the beginning of the month on Monday, August 3.
The DWP has confirmed to the Express that the Scottish bank holiday is not expected to affect payments, but the late August 31 holiday will cause disruption, with payments to be issued early.
The DWP told the Express: “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.”
State Pension payments across the whole of the UK will be disrupted in late August due to the summer bank holiday. Even though the late Bank Holiday is only in England, Wales and Northern Ireland, pensioners in Scotland will also see payment dates pulled forwards.
As such, pensioners expecting a State Pension payment on Monday, August 31, can instead expect to be paid on the earliest working day before, which will be Friday, August 28.
Confirming the changes on a bank holiday, 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.”
So if your National Insurance number ends in 00 to 19, your usual payment date falls on a Monday, which may coincide with the August 31 summer bank holiday. If this is the case, you will be paid earlier than normal.
If your State Pension payment date is changing due to the August 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.
