The Department for Work and Pensions (DWP) is preparing to deposit £739.60 into the bank accounts of older state pensioners across the United Kingdom next week. This payment is designated for individuals born before 1951 who receive the Basic State Pension, also referred to as the Old State Pension.
Payment Increase in April
These pensioners have benefited from an increase that took effect in April, raising their weekly payment to £184.90. Consequently, the monthly amount stands at £739.60. Since the state pension is disbursed every four weeks, retirees can expect to see £739.60 credited to their accounts this week.
Payment Schedule Based on National Insurance Numbers
According to the DWP's state pension payment schedule, the timing of payments depends on the final two digits of the pensioner's National Insurance number. Those with numbers ending in 00 to 19 are paid on Mondays, 20 to 39 on Tuesdays, 40 to 59 on Wednesdays, 60 to 79 on Thursdays, and 80 to 99 on Fridays.
The DWP explains: “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.”
Bank Holiday Adjustment
Last week, a bank holiday occurred on Monday, May 25, which prompted early payments. Claimants received their funds on the preceding Friday, May 22, three days ahead of schedule due to the three-day weekend. This additional day off for workers also impacted DWP phone lines and Jobcentres nationwide.
