The Department for Work and Pensions (DWP) has announced it will issue state pension payments early this month, ensuring millions of pensioners receive at least £704 before the Christmas holidays.
Early Payments for Christmas and New Year
Due to the upcoming bank holidays, the DWP is adjusting its payment schedule. Anyone due a payment on Christmas Day, Thursday 25 December, will instead receive their money on Christmas Eve, Wednesday 24 December. The same early payment applies to those whose usual date is Boxing Day, Friday 26 December; they will also be paid on the 24th.
Furthermore, the New Year's Day bank holiday on Thursday 1 January will also prompt an early payment. Pensioners expecting money on that date should see their funds arrive on New Year's Eve, Wednesday 31 December.
Payment Amounts and How They Are Made
The early payments will cover the standard four-week period. For those on the full basic State Pension, this amounts to £704 (£176.45 per week). Recipients of the full New State Pension will receive £921. These sums are paid directly into bank accounts, similar to other benefits.
Your regular payment day is determined by the last two digits of your National Insurance number. The schedule is as follows:
- Digits 00 to 19: Paid on a Monday
- Digits 20 to 39: Paid on a Tuesday
- Digits 40 to 59: Paid on a Wednesday
- Digits 60 to 79: Paid on a Thursday
- Digits 80 to 99: Paid on a Friday
The bank holiday changes apply to payments that would normally fall on the affected days.
Support for Pensioners
The DWP reminds pensioners and retirees to ensure they are receiving all the financial support they are entitled to. If you are struggling or unsure, you can use a benefits calculator, such as the one provided by the charity Turn2Us, to check for any unclaimed entitlements.
This proactive move by the DWP aims to provide financial certainty and allow state pension recipients to manage their budgets effectively during the festive period without disruption to their income.
