Millions of pensioners rely on their State Pension to cover everyday costs, and with Christmas just weeks away, the question of whether payments should be made a week early to help with festive spending has resurfaced.
Under current Department for Work and Pensions (DWP) rules, the State Pension is usually paid every four weeks into a bank or building society account. The day someone receives their money depends on the last two digits of their National Insurance number.
How State Pension payment dates work
Those with numbers ending between 00 and 19 are paid on a Monday, while those ending between 20 and 39 receive their money on a Tuesday. Payments are made on Wednesdays for numbers ending 40 to 59, Thursdays for 60 to 79 and Fridays for 80 to 99.
However, payment dates can change when they fall on a weekend or bank holiday. This year, Christmas Day falls on Friday, December 25, while Monday, December 28 is a substitute bank holiday for Boxing Day.
Could payments be brought forward?
Under the usual rules, State Pension payments due on these dates would normally be brought forward to Thursday, December 24. But that is different from giving pensioners their money a full week earlier to help with Christmas spending.
Some may welcome the extra time to buy presents, organise food shopping and prepare for the festive period. Others may prefer to keep their normal payment date, particularly if receiving the money early means waiting longer until their next payment.
The DWP has previously warned that bringing payments forward unnecessarily could leave people having to stretch their money over a longer period.
So, should State Pension payments be made a week early before Christmas, or should the current arrangements stay as they are?
