State pension paid monthly
topo1402
Posts: 7 Forumite
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.
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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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.0
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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.0 -
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.0 -
Oh dear! How tragic. Having to be paid weekly.
Find something serious to moan about people.0 -
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paying monthly to those that want it wouldn't really be rocket science0
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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.0 -
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.0 -
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).0
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