Millions of households across the UK are being urged to take note of significant changes to their benefit payment schedules as the August Bank Holiday approaches. The Department for Work and Pensions (DWP) has confirmed that payments due on Monday, 26th August, will be processed early, affecting recipients of Universal Credit, State Pension, and other key benefits.
Revised Payment Schedule: What You Need to Know
With banks and building societies closed for the summer public holiday, all DWP payments typically due on Monday will instead be paid on the previous working day: Friday, 23rd August 2024. This early payment is automatic, so claimants do not need to take any action.
The change impacts a wide range of support, including:
- Universal Credit
- State Pension
- Personal Independence Payment (PIP)
- Employment and Support Allowance (ESA)
- Jobseeker's Allowance (JSA)
- Attendance Allowance
- Disability Living Allowance
- Carer's Allowance
- Pension Credit
- Child Benefit
Budgeting Advice for Early Payments
While receiving money early might seem beneficial, financial experts and charities are advising recipients to plan carefully. The early payment means you will have a longer than usual gap until your next scheduled payment in September.
Citizens Advice and organisations like StepChange Debt Charity recommend:
- Creating a budget to ensure the early payment lasts through the extended period.
- Prioritising essential bills such as rent, mortgage, energy, and food.
- Contacting your creditors immediately if you anticipate any difficulties in meeting payments later in the month.
What If You Don't Receive Your Payment?
The DWP advises that while payments are usually received by 11:30 pm on the scheduled date, they can sometimes appear in accounts up to midnight. If your payment has not arrived by the end of the day on Friday, 23rd August, you should wait until the next working day (Tuesday, 27th August) to contact your bank before getting in touch with the DWP.
This annual shift serves as a crucial reminder for the nearly 22 million people receiving state pension and benefits to manage their finances around the UK's public holidays, with the next change expected for the Christmas period.
