Frequency of State Pension

Costabit

I’m just starting to think about when I want my State Pension payments and can’t decide between getting it weekly or 4 weekly.
Does anybody have any thoughts on the advantages / disadvantages of either ?
Also, will I be locked in to whichever way I chose or is it a changeable decision?

JGB1955

I can't answer your second question but love the 'bonus' payment that comes once a year with 4-weekly payments.  If you can manage your budget on 12 payments, stick with the 4 week cycle.  None of our bills are paid weekly, so that would be totally wasted on us (our food shop goes on credit cards, so paid monthly).

geordiejon

second question first, once you choose you cant change, my brother tried to but couldn't dont know if its changed.
as above 4 weeks gives you an extra month but some people have problems with it as the payment date changes most months, i am happy with this as i was paid 4 weekly and am used to it.
it depends on what your used to and how happy you are to manage your budget.

Marcon

Yes, once the pension is in payment you can change it using https://www.manage-state-pension.service.gov.uk/

Brie

The annoying thing about the 4 weeks cycle is it changes every month so doesn't work well with my online banking "expected payments".  I understand why they do it every 4 weeks (payment always the same) but would prefer it monthly if that ever was an option.  

squirrelpie

We get it weekly and find the predictability of the same payment every week is reassuring. You also get paid the money sooner, since the pension is paid in arrears, but we just think of that as a technical nicety.

luvchocolate

I prefer weekly....it's a personal choice. 
Yes you can change when in payment 

Nearlyold

Each of us gets our state pension 4 weekly,  that way it's paid "earlier" each month and 1 month a year we get paid twice. 

poseidon1

I now get mine weekly, but it started off fortnightly - I was told erroneously that weekly no longer exsisted but once I discovered (on this forum ) that was nonsense, DWP were only to happy to change it.

Since the SP is paid in arrears, I wanted commencement to start as quickly as possible together with the cash flow benefit that flows therefrom. My other longstanding sources of early retirement income was ( and still is ) largely received on a  quarterly or half yearly basis,  so this weekly 'bunce' is welcome largesse which fills the gaps.

Also, I annually self assess, so I find it slightly easier to calculate the reportable state pension for tax purposes, given it is in arrears.

Can't imagine circumstances where I would want to revert to 4 weekly payments ( difficult to  see any benefit in that), but no doubt each to their own.

sgx2000

Surely the vast majority of the uk get paid monthly while working......
And we are all used to the occasional longer month....

So why no monthly choice?

All of my bills are direct debit monthly.....

I realise everyone is different, and many will be happy with the options available....

pinnks

No monthly option because the SP is a weekly benefit payment.