Where / How to find out Tax Year State Pension payments?

flaneurs_lobster

frankiesowner said:

FrugaiMacDugal said:

For tax purposes, the correct amount is always the figure of weekly entitlement not the number of payments you received, so this will be the first week at the old weekly pension rate, plus 51 weeks at the new weekly pension

My state pension is paid monthly.

...not if it's a UK SP. 

FrugaiMacDugal

frankiesowner said:

FrugaiMacDugal said:

For tax purposes, the correct amount is always the figure of weekly entitlement not the number of payments you received, so this will be the first week at the old weekly pension rate, plus 51 weeks at the new weekly pension

My state pension is paid monthly.

Your state pension will be paid every 4 weeks.

So, divide by 4 for weeky amount, though, as mentioned above, Use the letter ‘About the general increase in benefits’ that the Pension Service sent you to find your weekly State Pension amount',

frankiesowner

Dazed_and_C0nfused said:

Trust me, it isn't.  No one has it paid monthly.

Once a year you will have a month with two payments in 🤩

OK understand about the two payments in a month bit and I'll have to look for that. But most of the payments are once a month and not weekly.

MallyGirl

frankiesowner said:

Dazed_and_C0nfused said:

Trust me, it isn't.  No one has it paid monthly.

Once a year you will have a month with two payments in 🤩

OK understand about the two payments in a month bit and I'll have to look for that. But most of the payments are once a month and not weekly.

They are once every 4 weeks (or weekly if you requested that). 

Marcon

frankiesowner said:

Dazed_and_C0nfused said:

Trust me, it isn't.  No one has it paid monthly.

Once a year you will have a month with two payments in 🤩

OK understand about the two payments in a month bit and I'll have to look for that. But most of the payments are once a month and not weekly.

All your payments are on a four-weekly basis (unless you requested weekly or fortnightly payments - and you clearly didn't), so only appear once a month on your bank statement - except for the one month in the year where you have two payments. Pick any payment and multiply by 13 to give you the answer you are seeking.

QrizB

frankiesowner said:

OK understand about the two payments in a month bit and I'll have to look for that. But most of the payments are once a month and not weekly.

You should find that they're every 28 days, so get a bit earlier every month (except 3 in 4 Februarys). Eventually you'll have one in the first couple of days of the month, and another at the end of the same month.

frankiesowner

Thanks for the feedback. Made sense after a bit of investigation.

SacredStephan

gwynlas said:

At the moment state pension falls just under personal tax allowance

That's not true in every case, it's possible for a state pension to exceed £15k pa.

FIREDreamer

SacredStephan said:

gwynlas said:

At the moment state pension falls just under personal tax allowance

That's not true in every case, it's possible for a state pension to exceed £15k pa.

I read that there are some pensioners, not many, on a state pension of nearly £1,000 per week. Can’t remember where but it was due to deferral and SERPS.

molerat

The max state pension is £398.55.  I can't see anyone getting close to £1K as that would involve being entitled to the max pension and deferring for maybe 15+ years !