The Department for Work and Pensions (DWP) is issuing an unexpected £740 payment to older state pensioners in late May. This follows the announcement that from April 2026, the Basic State Pension will increase by 4.8% to £184.90 per week, driven by the triple lock policy.
Annual Increase Details
The rise equates to an additional £439.40 per year for those who reached State Pension age before April 2016. The increase is based on average earnings growth (AWE) measured between May and July 2025, ensuring pension income keeps pace with wages.
This means the basic state pension for individuals born before 1951 (men) or 1953 (women) is worth £740 per month from the DWP.
Early Payment Due to Bank Holiday
In late May, due to the Spring Bank Holiday on May 25, state pension payments will be brought forward for those with National Insurance numbers ending in 00 to 19. These pensioners will receive their payment a working day early, on Friday, May 22.
The full rate of the new State Pension will also increase by 4.8% in line with average earnings, rising from £230.25 to £241.30 per week. The full basic State Pension will increase from £176.45 to £184.90 per week.
Payment Schedule Based on NI Number
The basic state pension is paid directly into bank accounts, typically every four weeks. The exact day of payment corresponds to the last two digits of your National Insurance (NI) number:
- 00 to 19: Monday
- 20 to 39: Tuesday
- 40 to 59: Wednesday
- 60 to 79: Thursday
- 80 to 99: Friday
Bank Holiday Payment Changes
The same bank holiday payment date adjustments that apply to most benefits also apply to state pension payments. Any payments due on Monday, May 25 (Spring Bank Holiday) will instead be sent on Friday, May 22. This includes:
- Universal credit
- State pension
- Pension credit
- Child benefit
- Disability living allowance (DLA)
- Personal independence payment (PIP)
- Attendance allowance
- Carer's allowance
