State Pension payment dates issued amid changes for Christmas and New Year

09 December 2023 , 13:37

811 0

The dates for payments change during the festive period (file image) (Image: Getty Images)

The dates for payment of State Pension and other benefits over the Christmas period have been confirmed.

Payment dates change during the festive period due to the closure of banks and Department for Work and Pensions (DWP) offices during the holidays. It means millions will be paid earlier than usual this month and have to wait a little longer for the next payment date in January. State Pension and Pension Credit increases from April next year after the Chancellor Jeremy Hunt announced a rise of 8.5 per cent, based on the figure for pay growth earlier in the year. Other DWP and HMRC benefits will rise by a lower amount of 6.7 per cent.

More than 12.6 million people are on the State Pension, with 3.2 million on the New State Pension that was introduced in April 2016 and the rest on the old Basic State Pension that was in place before that date. Those on a low retirement income may be able to get a boost from Pension Credit, with 1.4 million people claiming this top-up and the DWP campaigning to increase take-up of the benefit, Birmingham Live reports.

How the State Pension is paid

The day your pension is paid depends on your National Insurance number. The last two digits determine when the cash goes into your account:

Last two digits of NI number and payment day:

Six teachers open up on 'difficult' strike decision - and why they are doing it

00 to 19 - Monday
20 to 39 - Tuesday
40 to 59 - Wednesday
60 to 79 - Thursday
80 to 99 - Friday

State Pension payments are never arranged to go in at a weekend although some banks may credit accounts on a Saturday or Sunday.

However, there will be several date changes over the Christmas and New Year holidays. How they affect you will depend on which day your pension normally goes in, as listed above.

State Pension Christmas and New Year payment changes

These changes will also apply to the top-up benefit Pension Credit and to other DWP benefits.

Expected payment date Monday, December 25 (Christmas Day bank holiday) - Will be paid earlier on Friday, December 22
Expected payment date Tuesday, December 26 (Boxing Day bank holiday) - Will be paid earlier on Friday, December 22
Expected payment date Wednesday, December 27 - Will be paid earlier on Friday, December 22
Expected payment date Thursday, December 28 - no change, paid as normal
Expected payment date Friday, December 29 - no change, paid as normal
Expected payment date Monday, January 1 (New Year's Day bank holiday) - Will be paid earlier on Friday, December 29
Expected payment date Tuesday, January 2 - Will be paid either on Friday, December 29 or Tuesday December 2

State Pension and Pension Credit increases from April 2024

New State Pension

Full rate: £221.20 (from £203.85)

Basic State Pension

Category A or B Basic State Pension: £169.50 (from £156.20)
Category B (lower) Basic State Pension - spouse or civil partner's insurance: £101.55 (from £93.60)
Category C or D - non-contributory: £101.55 (from £93.60)