A BIG change to state pension payments is on the way next month that may affect when you get paid.
The Queen is celebrating her Platinum Jubilee in June, but the momentous occasion could get in the way of payment dates.
There’s a bank holiday on June 3 to mark the Queen’s 70 years on the throne.
And the usual Spring Bank holiday has been tagged on the day before too, meaning another day-off on June 2.
It means most Brits get to enjoy a four-day-long weekend to celebrate.
But the additional bank holiday and bumper time-off is expected to affect the state pension payment dates for thousands of claimants, as they won’t get their money on the day they expect.
No-one will be left out of pocket though, and in most cases you’ll get your money earlier than usual.
There’s an easy way to check when you should receive a pay-out instead.
It’s all down to which day of the week you usually get your money on, and a trick with your National Insurance number can point you in the right direction too.
You can usually find your National Insurance number on paperwork from work or retirement.
But take a closer look at the last two digits of the number and they can reveal the exact day you get your cash from your state pension.
Here’s what the numbers mean for each day:
- 00 and 19 – You’re usually paid on a Monday
- 20 and 39 – You’re usually paid on a Tuesday
- 40 and 59 – You’re usually paid on a Wednesday
- 60 to 79 – You’re usually paid on a Thursday
- 80 to 99 – You’re usually paid on a Friday
But the pair of back-to-back bank holidays means the Thursday and Friday payments are out of action next week.
The good news is that you won’t have to wait until after the celebrations, as your payments will come sooner.
Instead you’ll see the money land in your bank account or normal payment method on Wednesday, June 1.
That’s the last working day before the four-day bank holiday weekend.
If your National Insurance number ends in digits between 60 all the way to 99, then you are likely to be affected by this change.
If it ends in any other number, or you’re usually paid on any other day of the week that’s NOT affected by the bank holiday dates, then you’ll get your payment as normal.
Will the amount of state pension I’m paid change?
Exactly how much money you get won’t change, even if it’s paid on a different day.
The only thing you have to watch out for it how it will affect your budget.
Remember that being paid earlier than normal means that you’ll need to make the money stretch for a few extra days of the month.
It means that your budget for June will have to last longer as you’ll have longer to wait until the next August payment.
If your money is not paid on time, then you should double check the date you get paid normally and contact your bank before calling the DWP.
If something’s not right, you can also submit a complaint to the DWP.
What other bank holidays can affect Universal Credit?
Brits have been inundated with time-off lately, with so many bank holidays cropping up over the spring and summer months.
There’s still more to come though, meaning more payment disruption, so make a note in your diary of important changes.
At the end of August there’s another bank holiday, and before you know it Christmas will be rolling around again.
Here’s the full list of the remaining Bank holidays in 2022 that could affect your benefit payments:
- Thursday, June 2 – Spring Bank Holiday
- Friday, June 3 – Platinum Jubilee Bank Holiday
- Monday, August 29 – Summer Bank Holiday
- Monday, December 26 – Boxing Day
- Tuesday, December 27 – Christmas Day (substitute day)
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State pension isn’t the only benefit that The Queen has disrupted with her massive celebrations – thousands on Universal Credit will have payment dates moved due to Jubilee too.
Plus we have the full list of benefits that could stop on your next birthday.
