State pension payment dates for Christmas and New Year 2020 explained

BRITS who receive the state pension may find their payment dates differ over Christmas and New Years.

This is because there are three bank holidays to take into account during the festive season, which fall on December 25, December 28 and January 1.

December 28 is a replacement bank holiday for Boxing Day, which is on a Saturday this year.

The state pension is usually paid on the same date every four weeks by the Department for Work and Pensions (DWP).

But if this falls on a bank holiday, it's likely that you'll be paid early – usually the first working day before you'd normally be paid.

If you think your payment is affected, you don't need to do anything as the date will automatically change temporarily.

How much is the state pension?

MEN born on or after April 6, 1951, or women born on or after April 6, 1953, will be able to claim the new state pension.

For those who reached the state pension age before April 6, 2016, you’ll be getting the old state pension, known as the basic state pension.

The full new state pension is £175.20 per week, while the previous full basic state pension was £134.25 per week.

If you've accrued NICs under both the old and new pensions, you'll receive a state pension based on a mixture of both schemes.

But if you haven't received your payment when you think you should have, make sure you call the relevant helplines before Christmas Day.

If you don’t, you'll have to wait until December 29 to get through to someone to help due to the bank holidays.

Below's all that you need to know about when your state pension will be paid over Christmas.

State pension payment dates during Christmas and New Year

The DWP has confirmed the below payment dates for state pension recipients to The Sun.

  • Due date December 24 – Payment date December 23
  • Due date December 25 – Payment date December 23
  • Due date December 26 – Payment date December 23
  • Due date December 27 – Payment date December 23
  • Due date December 28 – Payment date December 23
  • Due date December 29 – Payment date December 29
  • Due date December 30 – Payment date December 30
  • Due date December 31 – Payment date December 31
  • Due date January 1, 2021 – Payment date December 31
  • Due date January 4, 2021 – Payment date January 4, 2021

If you also receive benefits, we've rounded up how payment dates change for Universal Credit, PIP and other benefits over Christmas.

The day that you're paid usually depends on when you applied for the benefit.

Christmas and New Year bank holidays 2020

HERE are the bank holidays for Christmas and New Year in 2020:

Friday, December 25: Christmas Day

Monday, December 28: Replacement Boxing Day bank holiday

Friday, January 1: New Year's Day

Retirees will get up to £230 extra a year in their state pension from April next year, the government has confirmed.

It comes thanks to the triple lock system, which means pensions increase every year in line with inflation, earnings, or 2.5% – whichever is highest.

The state pension age also rose to 66 in the beginning of October – we explain seven ways to boost your retirement pot.

Source: Read Full Article