State pension payment date changes will take place next month | Personal finance | Finance

State pension payments are likely to be even more important for people in the context of the current cost of living crisis. For this reason, understanding when one is ready to receive payment can be useful for budgeting purposes.

Christmas, usually an expensive time of year, is only weeks away and therefore understanding when your pension is due will be essential.

Although the state pension is usually paid once every four weeks, there may be disruptions to note.

This is because the holiday season often brings holidays which can disrupt the usual payment pattern.

In 2022, Christmas Day, December 25, falls on a Sunday.

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As a result, people can expect their state pension to be paid then, in time for Christmas.

Retirees will not have to take any steps to receive this advance payment, it should be noted.

Indeed, the system will update automatically to ensure that people receive the amount that is due to them.

State pension payments must be paid into a bank, savings or mortgage account of your choice.

Additionally, state pensioners can also expect to receive a bonus this Christmas.

Each year, the Christmas Bonus offers state pensioners and recipients a little extra money.

The tax-free one-time payment is worth £10 and is paid to people who receive certain payments and benefits during the qualifying week.

The qualifying week is usually the first full week of December, which this year starts on Monday, December 5.

The Christmas bonus does not affect any other benefits a person may receive.

About Matthew R. Dailey

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