Two-digit code that reveals if you’ll get paid State Pension early this week
A TWO-digit code will reveal if you are paid your State Pension early this week.
With Christmas just around the corner, it may come as a welcome gift to see the money arrive ahead of schedule.
The last two digits of your National Insurance number usually dictate which date the payment is made.
If those digits are between 00 and 19, your State Pension is transferred on a Monday.
Numbers between 20 and 39 signal a Tuesday payment meanwhile figures from 40 to 59 indicate a Wednesday.
This pattern is continued throughout the week with 60 to 79 codes paid on a Thursday and numbers 80 to 99 on Fridays.
So, this will mean that with Boxing Day falling on Monday and a bank holiday falling on a Tuesday, those expecting to receive a payment won’t see any money on those day.
Transfers cannot be made on Boxing Day, or December 27, because the banks are closed for the holiday.
But, in order to stop Brits struggling across the Christmas season the government are bringing the payment day forward.
If your National Insurance number ends in digits between 00 to 19, you are likely to be affected by this change.
The alteration will happen automatically so there’s no need to take any action to claim the early payment.
If your payment date does not fall on a bank holiday, then everything will continue as normal.
This will apply to other benefits as well as the State Pension.
Official guidance states: “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.
“This may be different for tax credits and Child Benefit.”
Any payments due to drop into your bank account from December 23 until 26 will likely be received on December 22 instead.
Meanwhile, if you are due to be paid on December 30, 31 or January 1, the cash will land in your account on December 29.
You could be affected if you claim any of the following benefits:
- Attendance Allowance
- Carer’s Allowance
- Child Benefit
- Disability Living Allowance
- Income Support
- Jobseekers Allowance
- Pension Credit
- Personal Independence Payment
- State Pension
- Tax credits (such as Working Tax Credit)
- Universal Credit
This comes as thousands of households are due up to £50 in free cash this winter.
The scheme has been launched for those struggling with the cost of living crisis over the holiday season.
Meanwhile, more help is also offered by councils in England through the Household Support Fund.
The latest round of funding is worth £842million, and has been distributed among local authorities.