Is State pension better received weekly or monthly

boddy

Hi. I retire at the end of August this year. I will be 60 in July. Will be receiving a NHS pension as well. I remember reading on here a while ago when its better to get paid State pension paid but cant remember.

Have received my State Pension forecast and hoping my manager goes through the proper procedure for my work pension.

EdInvestor

Better to get it paid weekly so all the interest goes to you, IMHO.

chesky369

If state pension is paid weekly, it's paid in advance; if it's paid monthly, it's paid in arrears.

No argument really.

boddy

Thanks for the replies.

bristol_pilot

You also pay very slightly less income tax if the state pension is paid weekly (assuming you are a tax payer), because the tax liability on the state pension is on the amount you are entitled to receive rather than on the actual amount received during the tax year. It is thus slightly advangateous to be paid the state pension weekly. Only a couple of quid in it though.

jennifernil

I also find it easier to keep track of what is coming in by having it come in the bank every Monday.

The "monthly" is not really monthly but rather every 4 weeks, so "pay day" moves forward a few days every month.

lilac_lady

If your other pension is paid monthly then it's definitely better if you get your state pension paid in weekly. You'll never be too long without a cash top up then.