Changes to the State Pension payment schedule are set to affect millions starting next week. With the Easter bank holiday approaching, the Department for Work and Pensions (DWP) has announced adjustments to payment dates for certain recipients.
Pension Payment Changes for April
State pensioners who typically receive payments at the beginning of the month may notice a shift in their payment dates. Specifically, those who would normally get paid on Good Friday, April 3, or Easter Monday, April 6, will receive their funds earlier. Payments for these individuals will be deposited on Thursday, April 2.
Who is Affected?
The change impacts pensioners based on the last two digits of their National Insurance numbers:
- National Insurance numbers ending in 00 to 19: Payments typically received on Mondays.
- National Insurance numbers ending in 80 to 99: Payments typically received on Fridays.
- Additional payment cycles:
- 20 to 39: Tuesday
- 40 to 59: Wednesday
- 60 to 79: Thursday
Those in the first two groups will see their April payments adjusted to ensure they are paid before the long weekend.
Increased State Pension Amounts
Starting April 6, the new tax year will bring a 4.8 percent increase in State Pension amounts. Currently, the full new State Pension is £230.25 weekly, which translates to an annual increase of approximately £575 for those receiving the full amount. Older pensioners claiming the basic State Pension can expect a yearly increase of roughly £439.
However, recipients should note that the early payment on April 2 will still reflect the current rates and not the increased amounts. They will not see the uplift until their payments are recalibrated in future months.
Payment Process and DWP Guidance
The DWP reassures pensioners that they do not need to take any action regarding this change. Payments will be automatically deposited into the individuals’ bank accounts, building societies, or credit unions. The department states that benefits are typically paid directly into recipients’ accounts, emphasizing that payment days may shift in the case of weekends or bank holidays.
As a result, pensioners should remain aware of the new payment schedule and prepare accordingly for managing their finances in the coming month.
