State pensioners are set to receive their payments earlier than expected this month, with older Britons being urged to check when they will get paid.
This Friday (May 2), the Department for Work and Pensions (DWP) adjusts its schedule ahead of the upcoming bank holiday next week.
The change affects those who would normally receive their pension payment on May 5, which is the early May bank holiday.
Instead of waiting until after the long weekend, qualifying pensioners will wake up to find the money in their accounts on Friday.
The state pension will get paid differently for thousands of older Britons this week
GETTYThis temporary adjustment ensures that pensioners are not left without funds during the extended three-day holiday weekend.
The early payment system is standard practice for the DWP, which typically processes payments on the nearest working day before holidays. The DWP does not generally process payments on bank holidays, which is why the adjustment is necessary.
According to GOV.UK: "If your payment date is on a weekend or a bank holiday, you'll usually be paid on the working day before."
It should be noted that older households whose payments are not due to fall on Monday will not be affected by this date change.
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The early payment arrangement applies to various benefits including the state pension, Universal Credit, Personal Independence Payments (PIP) and Employment and Support Allowance.
A similar change will occur later in the month for the Spring Bank Holiday on Monday, May 26. Those expecting payments on this date will instead receive them on Friday, May 23.
The day someone's pension is paid typically depends on their National Insurance number, with Britons needing 35 years of contributions to get the full state pension.
While many will welcome receiving their money early, it's worth noting that these payments will need to last longer than usual.
Normal payment schedules will resume after each bank holiday period.
The DWP has stated: "Benefits are usually paid straight into your bank, building society or credit union account."
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Britons are worried about their pension savings GETTY Dean Butler, the managing director for Retail Direct at Standard Life, part of Phoenix Group, said: "With the state pension set to rise to £11,973 a year for the 2025-26 tax year, it remains a crucial part of many people’s retirement income.
"But despite its importance, there’s still a lot of confusion around how it works and how much people might get.
"Knowing when you’ll start receiving your state pension and how much you’re likely to get is an important part of planning for retirement.
"It helps you work out how much extra you need to save, when you could afford to retire, and what your overall financial picture will look like.
"Understanding how your National Insurance (NI) contributions impact your retirement is also vital, so you’re not caught out when the time comes.
"With the personal allowance frozen at £12,570 until 2028, there’s a good chance that people will pay tax on the state pension alone from 2026 or 2027.
"The Government might change the rules to avoid this, but it’s good to be aware of tax when planning for retirement."
