State Pension - Weekly or Four Weekly

philip4567

I've seen various threads about whether it is better to have the State Pension paid weekly or four weekly (sometimes called monthly).

Both options are paid in arrears.

It seems to me better to be paid weekly in arrears than four weekly in arrears.

You are still getting three of the four payments earlier than you would otherwise.

For instance.
WEEKLY
Covering the period 2nd  April  -   8th April and paid on the 8th April - £221.20
Covering the period 9nd  April - 15th April and paid on the 15th April - £221.20

Covering the period 16nd April - 22th April and paid on the 22th April - £221.20

Covering the period 23rd April -  29th April and paid on the 29th April - £221.20

or

MONTHLY

Covering the period 2nd April - 29th April and paid on the 29th April £884.80

GunJack

Totally down to personal choice & preference...

luvchocolate

Can also be paid fortnightly. 
Mine is weekly...my choice and works for me 

Flugelhorn

GunJack said:

Totally down to personal choice & preference...

agree only the same amount of money in the end

Stubod

..get mine weekly, just prefer the idea of something going into my bank account every week. Not sure why you would want anything else, but understand each to their own....

Qyburn

Flugelhorn said:

agree only the same amount of money in the end

Not if it's going into an interest paying account.

For what it's worth we're both going weekly. We will be paid on different week days and scrolling through a couple of years it doesn't look as if our five week months will ever coincide.

Flugelhorn

mine goes into an interest paying account, but after tax it ain't worth putting it in 3 weeks earlier - though would be a few pence I suppose. Maybe I should try it 

Qyburn

I'm not sure I could face working out, but I *think* that every four weeks you'd have earned 3 weeks interest on the first weekly payment, two weeks on the second and one week on the third. 

squirrelpie

It just seems simpler to me to get a payment every week.

GunJack

I'm considering weekly when I get there, as both my DB's will pay out calendar monthly, but not on the same date...having a monthly, sorry, 4-weekly thing going in on variable dates all the time isn't awfully appealing

Costabit

I posed this question myself last year and got various thoughts and comments and was undecided until this quote appeared

“Here's some money you're entitled to, do you want it now or shall I hang on to it for three weeks?"

Made up my mind for me and will be getting my pension weekly starting in a few weeks time