The Department for Work and Pensions (DWP) has made notable announcements regarding alterations to the payment dates for state pension and benefits in May. Due to the occurrence of two bank holidays within the month, some claimants will experience a shift in the schedule for receiving their payments.
The early May bank holiday falls on Monday, May 6, and the later May bank holiday on Monday, May 27. Consequently, payments scheduled for May 6 will be dispensed on Friday, May 3, while those due on May 27 will be deposited into claimants’ bank accounts on Friday, May 24. It is imperative to make note of these changes to ensure the availability of sufficient funds for daily expenses.
The comprehensive list of DWP benefits affected by the date change includes:
– Universal Credit
– Attendance Allowance
– Carer’s Allowance
– Disability Living Allowance
– Employment and Support Allowance
– Income Support
– Jobseeker’s Allowance
– Pension Credit
– Personal Independence Payment
– State pension
In addition to the alterations in payment dates, benefit payments have witnessed a noteworthy increase of 6.7 percent this month, offering substantial financial support to the claimants. Furthermore, state pensioners have received an increase in payment rates of 8.5 percent, resulting in the full basic state pension amounting to £169.50 per week and the full new state pension to £221.20 per week.
Felicia Hjertman, the esteemed founder and CEO of the investment platform TILLIT, has underscored the significance of understanding one’s eligibility for the state pension, with National Insurance contributions playing a pivotal role in determining entitlement. Hjertman has advised individuals approaching retirement age to acquire a personal forecast from the government to estimate their state pension amount, a process facilitated by using the HMRC app.
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