Universal Credit, Personal Independence Payment (PIP) and Pension Credit claimants across the UK are being reminded their payment dates are set to change this week.
State pensioners will also be impacted by this overhaul with thousands of Department for Work and Pensions (DWP) benefit claimants set to be paid earlier due to the Bank Holiday
The Monday August 25 holiday means those scheduled to receive funds that day will instead see the money in their accounts on Friday 22 August.
Those who usually get paid on the 25th of every month are being encouraged to take this early payment into account when managing their finances.
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Are you impacted by the DWP payment date change?
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Among the DWP benefit payments that will get paid early this week include:
- Universal Credit
- State pension
- PIP
- Carer's Allowance
- Jobseeker's Allowance
- Employment and Support Allowance
- Income Support
- Attendance Allowance
- Pension Credit.
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Universal Credit claimants will be impacted by the chamge
| PAFinancial experts have raised concerns that the advance payment could create budgeting difficulties for households already managing tight finances.
The three additional days before the next scheduled payment arrives could prove challenging for those who typically budget from one payment to the next.
"Getting your money on Friday instead of the Monday might feel like a win going into the long weekend, but it means you'll have three extra days to stretch it," warns Fiona Peake, Personal Finance Expert at Ocean Finance.
She cautions that the timing shift could disrupt carefully planned budgets, particularly for those managing their finances on a weekly basis.
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Recipients should note that payments typically arrive in the early morning hours, though some may not appear until midday on Friday.
Ms Peake recommends several strategies to help recipients navigate the extended period between payments.
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The UK government's expenditure on benefits has also increased over time, with the largest increase in 2020/21 due to the COVID-19 pandemic | ChatGPT She suggests immediately freezing debit cards through banking apps to create a buffer against impulsive spending when funds arrive.
"Treat Friday August 22 like it's your usual payday and plan your week as normal," she advises, emphasising that the early payment shouldn't be viewed as extra money.
She also recommends reviewing Direct Debit schedules to prevent misaligned bill payments causing overdraft fees. Building emergency supplies of non-perishable foods provides a safety net for the final days before the next payment.
Her final suggestion involves saving small amounts through round-up features on banking apps, creating a modest emergency fund.