Some lucky UK state pensioners are set for a £921 payment this month – and could be set to pocket the cash before Easter. The State Pension has seen a 4.1% hike from April 7, in accordance with the annual surge in the Average Weekly Earnings index for May to July 2024.
The government has announced that over 12 million pensioners will reap the rewards of these new rates, with those entitled to the full new State Pension looking at an extra £470 annually, while the full basic State Pension will yield an additional £360 each year. The State Pension system is divided into two schemes – basic and new – the increase in pension payments this month will hinge on your retirement date.
Men born prior to April 6, 1951, and women born before April 6, 1953, are eligible for the basic State Pension, which has risen from £169.50 per week to £176.45 for those receiving the full rate – a weekly boost of £6.95.
Paid every four weeks, the basic state pension will amount to £705.80 per month for those on the full rate, reports the Express.
For men born on or after April 6, 1951, and women born on or after April 6, 1953, they qualify for the new State Pension, which has jumped from £221.20 per week to £230.25 for those on the full rate – a weekly increment of £9.05. Those fortunate enough to be on this pension and receive the full rate can expect £921 per month.
Due to Easter, two bank holidays will occur in April, resulting in an altered payment schedule for certain pensioners.
Those typically receiving their State Pension payments on either Good Friday (April 18) or Easter Monday (April 21) will be paid earlier than usual, with their funds being disbursed by the Department for Work and Pensions (DWP) on Thursday, April 17.
To verify the usual payment day of your State Pension, locate the last two digits of your National Insurance number, as they determine when payments are generally made.
This is how payment dates correlate with National Insurance numbers. Therefore, if your National Insurance number concludes with 00-19 or 80-99, your regular payment customarily falls on a Friday or Monday, which might coincide with the Easter bank holidays. In such cases, your payment will be disbursed earlier than usual on Thursday, April 17.
No action is needed if your State Pension payment date is shifting this month, as it will automatically be deposited into your conventional bank, building society, or credit union account.
As per the DWP’s explanation: “Benefits are usually paid straight into your bank, building society or credit union account. If your payment date is on a weekend or a bank holiday you’ll usually be paid on the working day before.”
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