State Pension is usually paid on the same day every four weeks by the Department for Work and Pensions (DWP), however, that may change for some people over Christmas and New Year.
The DWP has already confirmed changes to Universal Credit and other benefit payment dates including Personal Independence Payment (PIP), Disability Living Allowance (DLA), Attendance Allowance and Employment Support Allowance (ESA).
The Child Benefit Office has also updated its website with seasonal payment dates and HMRC has made public the changes to Tax Credit payment dates.
And now the DWP has confirmed changes to State Pension payments which may affect some people over the festive fortnight.
Typically, when any incoming payment falls on a UK bank holiday such as Christmas Day, Boxing Day or New Year’s Day, it is usually paid on a different date because normal financial transactions will be suspended
This year December 25 falls on a Friday, which means people due to receive any payment on that date will receive it early on December 23.
Similarly, Boxing Day falls on a Saturday, meaning an extra bank holiday has been added to the calendar - Monday, December 28.
This means payments due on December 28 may also be paid on December 23.
For the following week, New Year’s Day also falls on a Friday, which means payments due on that date may be paid on Thursday, December 31.
State Pension payment dates during Christmas and New Year
Here are the affected payment dates with the revised schedule.
Payment due on Thursday, December 24 : Wednesday, December 23
Payment due on December 25, 26, 27 or 28: Wednesday, December 23
Payment due on December 29: No change
Payment due on December 30: No change
Payment due on December 31: No change
Payment due on January 1, 2021: Thursday, December 31
Payment due on January 4, 2021: Thursday, December 31
When will the money go into my account?
Depending on your bank, funds are available shortly after midnight on the day they are due, usually in the early hours.
Some banks deposit money into your account around 11.30pm so you can withdraw it before midnight on benefit payday. Others will release your funds at midnight or just a few minutes after that.
But in some cases you have to wait until between 2am and 3am, while others will not let you touch your money until at least 6am on payday.
These are the typical paying-in times for banks: