State pension paid monthly

topo1402
topo1402 Posts: 7 Forumite
in Pensions, annuities & retirement planning
Why are we not given the option of having the state pension paid into bank accounts monthly?

When working I was paid at the end of each month and now having recently retired I receive my other pension income at monthly intervals but the state pension is paid every 4 weeks which makes it difficult to keep control of my finances.

It would be very easy for the pension service to calculate the monthly payments which could then be credited to bank accounts on the same day each month.

I am sure that there are many pensioners who would take advantage of this option and look forward to receiving your comments.
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Comments

  • Rupert_Bear
    Rupert_Bear Posts: 1,303 Forumite
    Im sure the pensioner would like that as much as a hole in head. It would not be paid in advance but in arrears. Just think the hardship it would cause.
  • McKneff
    McKneff Posts: 38,819 Forumite
    Name Dropper First Anniversary First Post
    I dont like being paid every four weeks to be honest. My dds go out on the same day each month so i would prefer my pension to be paid the same, it would make life easier. My private pension is paid on the 1st of every month, so I would prefer that my state pension had started off that way. DLA is paid 4 weekly also. Its a bloody nuisance to be honest.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • Eliza_2
    Eliza_2 Posts: 1,323 Forumite
    First Anniversary Combo Breaker
    Completely agree!!! Having received my very first payment today - very exciting - I've had to go through my diary to mark when it is due each month, it's a real pain. If you've been used to receiving salary payments each month on the same day and your direct debits etc are timed to accord with your payday, it's difficult to organise and will need constant juggling. I suppose an alternative might be to ask for payments to be weekly.

    I don't see how it's any different to being paid a salary, ie, total for the year divided by 12 and paid on the first of the month.

    I did ask when I rang to set up my pension but the person I spoke to didn't seem to think the option would help anyone and that it was a strange request!

    Wonder if Martin could start a campaign? There are a number of comments about this around the net.
  • le_loup
    le_loup Posts: 4,047 Forumite
    Oh dear! How tragic. Having to be paid weekly.
    Find something serious to moan about people.
  • noh
    noh Posts: 5,797 Forumite
    Name Dropper First Post First Anniversary
    le_loup wrote: »
    Oh dear! How tragic. Having to be paid weekly.
    Find something serious to moan about people.

    State pension, when paid by bank transfer, is paid 4 weekly in arrears to new retirees.

    I don't see any problem with it the bonus being you get 13 paydays in a year.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    Combo Breaker First Post
    paying monthly to those that want it wouldn't really be rocket science
  • McKneff
    McKneff Posts: 38,819 Forumite
    Name Dropper First Anniversary First Post
    le_loup wrote: »
    Oh dear! How tragic. Having to be paid weekly.
    Find something serious to moan about people.

    Why the sarcy comments, they dont help. Go and do something useful if you can.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • McKneff
    McKneff Posts: 38,819 Forumite
    Name Dropper First Anniversary First Post
    noh wrote: »
    State pension, when paid by bank transfer, is paid 4 weekly in arrears to new retirees.

    I don't see any problem with it the bonus being you get 13 paydays in a year.

    You dont see the problem with it, I wonder why.
    The problem has been explained at least twice in the thread.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    First Anniversary First Post Combo Breaker
    Why not have the pension paid into an account that then has a standing order to your main account once per month? Stick a couple of months pension in it in advance and it should remain in credit.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    First Anniversary Combo Breaker
    Can't you get the State Pension paid weekly? (would only need a few quid to make up the first month, then you should be in credit - as per gadgetmind's post).
This discussion has been closed.
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