MILLIONS of people of state pension age will get their payments soon.
The maximum amount for state pension payments you can get a week is £185.15.
They are usually paid every four weeks.
It is paid into your bank account on a set date, but over Bank Holidays the dates usually change.
When will I be paid the state pension over Christmas?
If your payment is due on December 26, 27 or 28, then you’ll get it on Friday December 23.
That’s because Boxing Day counts as a bank holiday, and the 27 is a “substituted” bank holiday day for Christmas Day and payments aren’t made on these days.
If it is due on January 2 then you’ll get it on December 30.
If it is due on January 3, then you’ll get it that same day unless you’re in Scotland where you’ll get it on December 30.
The amount will not change.
If a payment date lands on the weekend it’s usually made the first working day before then.
If over Christmas your payment date lands on a non-Bank Holiday day, then it’ll be paid as normal.
You don’t need to do anything if your usual date for getting state pension payments falls on a bank holiday.
For many it might be nice to get your payments early but it does mean you’ll have to make it last longer in January.
So do make sure you’re planning ahead so you aren’t struggling at the end of next month.
Who is eligible for the state pension and how much is it?
You’re eligible for the basic State Pension if you were born before:
- 6 April 1951 if you’re a man
- 6 April 1953 if you’re a woman
You usually need a total of 30 qualifying years of National Insurance contributions or credits to get the full basic State Pension.
Chancellor Jeremy Hunt confirmed the Triple Lock would stay which means millions of pensioners will see an up to £870 state pension rise in April.
The triple lock on pensions means pensioners are guaranteed a pay rise every year.
It was introduced by the coalition government in 2010 and sees pension payments increase in line with whichever of the following is highest:
- Earnings – the average percentage growth in wages in Great Britain
- Prices – the rising cost of living in the UK, as measured by the Consumer Prices Index (CPI)
- 2.5%
What other support is there?
Those of state pension age have various other financial support options out there.
Some of these include:
