DWP confirms unexpected £965.20 payments for state pensioners before June | Personal Finance | Finance

The Department for Work and Pensions (DWP) will be sending unexpected early payments of up to £965.20 to eligible state pensioners before June.

The early payments come as a result of the spring bank holiday, which falls at the end of this month on Monday, May 25, meaning some pensioners will receive their State Pension earlier than normal. The Department for Work and Pensions (DWP) has already issued a round of early payments to pensioners this month, ahead of the early May Bank Holiday on May 4. The payments landed in accounts three days earlier, on Friday, May 1, instead. With a second Bank Holiday due at the end of May, more State Pension payments will be disrupted before returning to normal in June.

When a State Pension payment date falls on either a Bank Holiday or a weekend, the DWP will instead issue the payment on the earliest working day before, meaning claimants will have to make their cash last a little longer over the following month.

As State Pension rates increased by 4.8% on April 6, pensioners will see this uplift reflected in their May payments. As such, those who are eligible for the full new State Pension can get up to £241.30 per week, while the full basic State Pension is now worth £184.90.

This means that those with a full qualifying National Insurance record can get up to £965.20 every four weeks under the new State Pension rate, while those eligible for the maximum basic State Pension can get payments of up to £739.60 over the four-week payment period.

The State Pension is typically paid every four weeks, and when you first claim it, you choose the date when you want to receive your payment.

So if your payment is due on the same day as the spring Bank Holiday on Monday, May 25, you will see your bank account topped up with an early payment three days before.

If a State Pension payment is due on a Bank Holiday, the DWP has confirmed it will issue the payment on the earliest working day before, meaning those due on Monday, May 25, will instead be paid on Friday, May 22.

The DWP said: “Benefits are usually paid straight into your bank, building society or credit union account. If your payment date is on a weekend or a bank holiday you’ll usually be paid on the working day before.”

Pensioners can determine their usual State Pension payment day by looking for the two-digit code at the end of their National Insurance number, as this specifies the date on which payments are normally issued. This is how National Insurance numbers correspond to payment days:

• 00 to 19 – paid on Monday
• 20 to 39 – paid on Tuesday
• 40 to 59 – paid on Wednesday
• 60 to 79 – paid on Thursday
• 80 to 99 – paid on Friday

So if your National Insurance number ends in 00 to 19, it means your usual payment date falls on a Monday, meaning it may coincide with the May spring bank holiday. In this case, the DWP will send your payment on Friday, May 22.

The DWP said: “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.”

If your usual State Pension payment date is changing this month you don’t need to do anything as your money will be paid straight into your usual bank, building society or credit union account.