State pension: Key dates announced for Christmas and New Year payments
State pension: Key dates announced for Christmas and New Year payments
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The dates for payments of State Pension and other benefits over the festive period have been confirmed.
Payment dates change during the Christmas period due to the closure of banks and Department for Work and Pensions (DWP) offices during the holidays.
Millions across the country will be paid earlier than usual this month and some will have to wait a little longer for the next payment date in January.
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.
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If your expected payment date is on Monday, December 25, 26, or 27 it will be paid earlier on Friday, December 22.
For anyone who had an expected payment date on Thursday, December 28 or Friday, December 29, there is- no change and it will be paid as normal.
If your expected payment date is January 1, it will be paid earlier on Friday, December 29.
For those expecting payments on Tuesday, January 2, it will be paid either on Friday, December 29 or Tuesday, December 2.
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These are the key dates for pensions this christmas
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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.
The day your pension is paid depends on your National Insurance number. The last two digits determine when the cash goes into your account.
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.
State Pension payments are never arranged to go in at a weekend although some banks may credit accounts on a Saturday or Sunday.
It comes as Hunt announced a rise in Universal Credit as part of his Autumn Statement.
The full basic state pension for men born after April 1951 and women born after April 1953 is £203.85 per week.
With wages increasing at a rate of 8.5%, this is due to increase to £221.17 per week next April.