State pension paid monthly

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  • lilac_lady
    lilac_lady Posts: 4,469 Forumite
    ManAtHome wrote: »
    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).


    The State Pension used to have an option for weekly paymeny but it was stopped.

    I get a weekly State Pension but it was started before the rules were changed.
    " The greatest wealth is to live content with little."

    Plato


  • lilac_lady
    lilac_lady Posts: 4,469 Forumite
    ManAtHome wrote: »
    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).


    The State Pension used to have an option for weekly payment but it was stopped.

    I get a weekly State Pension but it was started before the rules were changed.
    " The greatest wealth is to live content with little."

    Plato


  • lilac_lady
    lilac_lady Posts: 4,469 Forumite
    Sorry - double post when trying to edit a typo.
    " The greatest wealth is to live content with little."

    Plato


  • xylophone
    xylophone Posts: 44,140
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    edited 20 January 2012 at 8:38PM
    lilac_lady wrote: »
    The State Pension used to have an option for weekly payment but it was stopped.

    I get a weekly State Pension but it was started before the rules were changed.
    http://www.web40571.clarahost.co.uk/archive/saga/2010/20100401Works_Pensions_II.htm
    "Payment changes
    From April new pensioners will lose the choice to have their state pension paid weekly in advance which has been available since 2003. Encouraged by Saga, many pensioners have switched from getting their pension paid four weeks in arrears to getting it paid weekly in advance. But from 6 April 2010 pensions will automatically be paid four weekly in arrears. Individuals will be able to choose to have the pension paid weekly or fortnightly – both in arrears – if they prefer. The new rule will not affect anyone who reached pension age before 6 April 2010 or who claimed pension credit before that date. At the moment they can still choose to have their pension paid weekly in advance – even if they currently do not. But this choice may not be available forever.

    Most state pensions are paid on a Monday, though some older ones are paid on Thursday and widows are paid on Tuesday. But from April pensions will be paid on a day set by the last two digits of the individual’s National Insurance number. People whose number ends in 00 to 19 will be paid on Monday, 20-39 Tuesday, 40-59 Wednesday, 60-79 Thursday and 80 to 99 Friday. Pension entitlement will begin the day after the first pay day. And it will normally be another four weeks before people get their first payment. People who move from another benefit such as bereavement allowance or jobseeker’s allowance will be paid a part week’s pension to tide them over the days between the two."

    Have the rules changed yet again? Or is it a case that if you want something other than four weekly payments , you have to make a specific request?
  • ManAtHome
    ManAtHome Posts: 8,512
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    lilac_lady wrote: »
    The State Pension used to have an option for weekly payment but it was stopped.

    I get a weekly State Pension but it was started before the rules were changed.
    Cheers LL - my sister gets hers paid weekly, started a couple of years ago (remember her asking and me thinking she was bonkers for asking...).
  • bigfreddiel
    bigfreddiel Posts: 4,263 Forumite
    CLAPTON wrote: »
    paying monthly to those that want it wouldn't really be rocket science
    actually i think it would be!

    look at all the it/revenue/ni related problems that crop up all the time with these gds

    http://www.publicservice.co.uk/feature_story.asp?id=14869
  • noh
    noh Posts: 5,794
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    McKneff wrote: »
    You dont see the problem with it, I wonder why.
    The problem has been explained at least twice in the thread.

    No it hasn't been explained.
    What exactly is the problem?
    I don't see 4 weekly payments making it difficult to budget.
    Currently I am not working not yet reached state retirement age. I have a SIPP in drawdown which is paid annually. I have monthly interest payments from savings accounts. Dividend payments at random times from shareholdings. Monthly income from a S+S ISA. Budgeting is no more difficult than if all payments were received monthly.
  • tanith
    tanith Posts: 8,091
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    Like Lilac Lady I opted to have mine paid in advance weekly , in it plops every Monday, unfortunately that option no longer exists but with some planning in advance it can't be that difficult for individuals to manage their finances. Then again it doesn't hurt to ask for change .
    #6 of the SKI-ers Club :j

    "All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke
  • margaretclare
    margaretclare Posts: 10,789 Forumite
    tanith wrote: »
    Like Lilac Lady I opted to have mine paid in advance weekly , in it plops every Monday, unfortunately that option no longer exists but with some planning in advance it can't be that difficult for individuals to manage their finances. Then again it doesn't hurt to ask for change .

    I've tried both, would have preferred calendar-monthly as that made more sense, when you've had years and years of being paid monthly it works better that way. Tried 4-weekly but switched to weekly just because it works better for me. DH gets his 4-weekly and an annuity payment calendar-monthly. I get mine weekly and an annuity payment calendar-monthly.

    We're not the only people who find it strange. My eldest GD, who works for the council, also gets paid 4-weekly.
    [FONT=Times New Roman, serif]Æ[/FONT]r ic wisdom funde, [FONT=Times New Roman, serif]æ[/FONT]r wear[FONT=Times New Roman, serif]ð[/FONT] ic eald.
    Before I found wisdom, I became old.
  • jennifernil
    jennifernil Posts: 5,580
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    I think monthly would make more sense too, especially when you have been used to a salary paid monthly. After all, things like utilities, mortgage, council tax, insurances and credit cards are pretty much all paid on a monthly basis.

    Like Margaret, we have our main pensions monthly, and elected for state pension weekly as it was then paid in advance.
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