The Department for Work and Pensions (DWP) has confirmed that State Pension payments of up to £965 will be issued in August, with the exact payment day determined by the two-digit code at the end of a National Insurance number.
After the 4.8% increase at the start of the tax year, the full new State Pension is now £241.30 per week. Because the DWP pays every four weeks, eligible pensioners can receive £965.20 per payment period. The old basic State Pension rose to £184.90 a week, giving those on the full rate £739.60 every four weeks.
These amounts are for people with a full National Insurance record. Those with fewer qualifying years will get less.
Payment day set by National Insurance code
The DWP says the last two digits of a National Insurance number decide when the State Pension is paid. The confirmed breakdown is:
- 00 to 19 – Monday
- 20 to 39 – Tuesday
- 40 to 59 – Wednesday
- 60 to 79 – Thursday
- 80 to 99 – Friday
For example, a National Insurance number ending in 19 means payment is normally made on a Monday in August, usually four weeks after the July payment.
The DWP explained: "You’ll be asked when you want to start getting your State Pension when you claim. Your first payment will be no later than 5 weeks after the date you choose. You’ll get a full payment every 4 weeks after that. You might get part of a payment before your first full payment. The letter confirming your State Pension payment will tell you what to expect. The day your pension is paid depends on your National Insurance number. You might be paid earlier if your normal payment day is a bank holiday."
August bank holiday impact
The summer bank holiday falls on Monday, August 31 in England, Wales and Northern Ireland, while Scotland’s holiday is on Monday, August 3. The DWP confirmed to the Express that the Scottish holiday will not affect payments: "Payments will still process as they do for other Scottish Bank Holidays. Government Banking have confirmed that Bacs does not close for Scottish only Bank Holidays. Scottish customers who would normally receive their payment on the 3rd will still receive it on the 3rd."
However, the late August bank holiday will disrupt payments across the UK, including for Scottish pensioners. Anyone due a payment on Monday, August 31 will be paid on the preceding working day, Friday, August 28.
Confirming the approach, the DWP said: "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."
So pensioners whose National Insurance number ends in 00 to 19 and whose usual payment day is Monday may receive their money early if it falls on the bank holiday. No action is needed – the payment will be made automatically into the usual account.
