Millions of state pensioners to wake up to £884 DWP cash in December | Personal Finance | Finance
Millions of state pensioners up and down the country could wake to £884 from Department Work and Pensions (DWP) in December.
As Christmas fast approaches, many people are feeling the pinch. However, pensioners will be pleased to hear that they should receive their December state pension early as payment dates can change during months with bank holidays – and December boasts two of them.
According to the Department for Work and Pensions (DWP), if a payment date is due to fall on a weekend or bank holiday, people are usually paid on the working day before.
This means some state pensioners may wake up to an early cash boost in December.
There are two bank holidays in December – Christmas Day and Boxing day – which fall on Wednesday 25 and Thursday 26 next month.
This means state pensioners who are due to receive their payments on either of these days will receive the cash on the working day before, which will be Tuesday, December 24 (Christmas Eve).
The state pension is usually paid every four weeks. Claimants can work out their next benefit payment date based on this information by checking when they last received one.
The full rate of the new State Pension is £221.20 a week, which totals just over £884 over the course of a month.
The DWP states: “After you’ve claimed your State Pension you’ll get a letter about your payments. The new State Pension is usually paid into your account every 4 weeks. If you want to change the account, tell the Pension Service.
“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.”
Chancellor Rachel Reeves has confirmed that the state pension will rise in line with the triple lock next year.
Under the “triple lock” guarantee, the state pension rises each April in line with the highest of three measures: average earnings growth between May and July, CPI inflation in September, or 2.5%.
