Pension Payment Date

Silvertabby

xylophone wrote: »

He might have chosen to receive it weekly.

Another of my soap box things. Running 4 pay runs per month instead of 1 is a shocking waste of public money that could be better spent elsewhere.

Bravepants

Silvertabby wrote: »

Another of my soap box things. Running 4 pay runs per month instead of 1 is a shocking waste of public money that could be better spent elsewhere.

Yes, but being paid once a week means that the maximum period the payee has little money is a few days, whereas receiving a lump-sum once a month could leave vulnerable people short of cash for longer if it's all spent too quickly.

Silvertabby

Bravepants wrote: »

Yes, but being paid once a week means that the maximum period the payee has little money is a few days, whereas receiving a lump-sum once a month could leave vulnerable people short of cash for longer if it's all spent too quickly.

I'm thinking more of non-vulnerable people, who take their State pension weekly just because they can. However, using your analogy, as most bills are paid monthly, won't these vulnerable people just spend it all instead of putting some of it by for the end of month bills?

It smacks of Nanny State dishing out weekly pocket money.

xylophone

It smacks of Nanny State dishing out weekly pocket money.

Much more nanny state to deprive people of the choice?

Dox

xylophone wrote: »

Much more nanny state to deprive people of the choice?

Not really. Sensible use of public funds.

Silvertabby

xylophone - I think we'll agree to disagree on this point !

greatkingrat

Silvertabby wrote: »

Another of my soap box things. Running 4 pay runs per month instead of 1 is a shocking waste of public money that could be better spent elsewhere.

They do pay runs every week anyway as people get paid at different points of the 4-weekly cycle. The extra cost must be fairly negligible - it is not like Doris in Accounts is writing out a cheque by hand every week.

xylophone

Not really. Sensible use of public funds.

Do you know that it costs more to pay weekly?

And SP is after all a weekly benefit....

House of Commons Briefing Note from the indefatigable Djuna Thurley

Number CBP-260, 27 October 2017
State Pension payment arrangements




Regardless of the frequency with which it is paid, it remains a weekly benefit.

Four changes were made for people reaching State Pension age from 6 April 2010, for whom the State Pension and Pension Credit are paid:
• In arrears, not in advance;
• Weekly, fortnightly or four-weekly (or at intervals of 13 weeks where the beneficiary agrees);
• On a payday allocated according to the final two digits of the customer’s NI number.

I'm happy to see that the beneficiary has a choice.

Bravepants

Silvertabby wrote: »

I'm thinking more of non-vulnerable people, who take their State pension weekly just because they can. However, using your analogy, as most bills are paid monthly, won't these vulnerable people just spend it all instead of putting some of it by for the end of month bills?

It smacks of Nanny State dishing out weekly pocket money.

I didn't use analogy.


There are ways to pay bills more often:


https://www.moneysupermarket.com/gas-and-electricity/payment-card/

Thrugelmir

greatkingrat wrote: »

They do pay runs every week anyway as people get paid at different points of the 4-weekly cycle. The extra cost must be fairly negligible - it is not like Doris in Accounts is writing out a cheque by hand every week.

I bet that you don't pay your utility bills until you have to. Preferring to hang onto your money.