State pension paid monthly

molerat

CLAPTON wrote: »

.................. however it's not complicated to pay 12 equally monthly sums for those that might want that option

Don't forget his is a government computer we are talking about, the slightest change to the programming generally makes them go completely **** up

noh

xylophone wrote: »

It looks as though you can still opt for weekly or fortnightly in arrears? - see my post 15 above and also
http://news.bbc.co.uk/1/hi/business/8348264.stm under Pay day Change

http://www.legislation.gov.uk/uksi/2009/3229/regulation/2/made
is a link to the legislation which states

"Retirement pension

22C.(1) This regulation applies in relation to payment of a retirement pension to persons who reach pensionable age on or after 6th April 2010, other than to a person to whom paragraph (7) applies.
(2) Subject to paragraphs (4) to (6), a retirement pension shall be paid weekly, fortnightly or four weekly (as the Secretary of State may in any case determine) in arrears on the day of the week specified in paragraph (3)."

Note frequency of payment isn't the choice of the recipient it is the choice of the Secretary of State. I believe he has determined that the payments shall be monthly.

zygurat789

noh wrote: »

That simply wont happen.
Because the pension payments are credited every 4 weeks there are 13 a year, somewhere along the line there will be two pension payments before the DDs (which are paid 12 times a year) come out.

Bank does a sweep monthly, thery won't do 4 weekly, on 10th pension rec'd on 11th and following 8th both taken in the seep on the next 10th leaving no income until the next following 6th.
When everything was monthly any surplus was taken leaving a month's income to pay for a month's bills.
Yes it does happen.

noh

zygurat789 wrote: »

Bank does a sweep monthly, thery won't do 4 weekly, on 10th pension rec'd on 11th and following 8th both taken in the seep on the next 10th leaving no income until the next following 6th.
When everything was monthly any surplus was taken leaving a month's income to pay for a month's bills.
Yes it does happen.

Well don't have a monthly sweep set up or transfer back from the savings account to the current account when appropriate or open an interest bearing current account.
The reason it happens is because of the way you choose to run your finances not because the pension is paid 4 weekly.

xylophone

Note frequency of payment isn't the choice of the recipient it is the choice of the Secretary of State. I believe he has determined that the payments shall be monthly.

https://forums.moneysavingexpert.com/discussion/4066191 post 4 (12.07.12)
Apparently the choice is still there.

seven-day-weekend

margaretclare wrote: »

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.

I have my State Pension weekly.

When I draw my Local Authority Pension it will be calendar monthly.

My husband's teachers' pension is calendar monthly.

My son, who works at Morrisons, and his girlfriend, who works in a nursing home, both get paid four weekly.

So it seems that it is very common to get paid four-weekly, whether you are working or on a Pension.

I don't see as it's more difficult to budget. Your money has to last a calendar month. Just budget for that and then the thirteenth payment is a bonus!

McKneff

I still havent got used to 4 weekly payments and to be honest, i really cant be bothered.

When my DD;s go out around 15th of the month any money left after that is ours, there is always plenty left for shopping. My personal pension goes in on the first of the month.

The day before the statepensions are due again I transfer anyting that is left there into the savings account. Works for me and my OH.

I cant be bothered with spread sheets etc, had enough of them in my working life, i blow a big raspberry to spreadsheets now I'm retired.

zygurat789

noh wrote: »

Note frequency of payment isn't the choice of the recipient it is the choice of the Secretary of State. I believe he has determined that the payments shall be monthly.

Now I always tought he was supposed to be a public servant

xylophone

https://forums.moneysavingexpert.com/discussion/4117127 post 8

I became pensionable on almost the same date 6/7/12 but asked to be paid weekly.Got my first payment on Thursday the 12th(a week in arrears) and it's gone sweet as a nut ever since

So a weekly payment is possible but has to be specifically requested.

originator

the claim form had no section giving me an option for weekly payments so I rang and was told to fill in my request in the 'any other information you wish to tell us' space.Sent off the form and followed it up later with another phone call to confirm they got the message.It's lovely being paid weekly,takes me back to the old days lol.