Gov Petition - Require all state pensions to be paid monthly

la531983

https://forums.moneysavingexpert.com/discussion/comment/82054611#Comment_82054611

Not really, pretty sure my company pension cant be paid weekly. All my outgoings are on a 12 times a year monthly basis, having this random 13th payment a year thrown in will just upset my OCD.

Hopefully in 26 years the system will have improved!

Marcon

https://forums.moneysavingexpert.com/discussion/comment/82054615#Comment_82054615

I didn't suggest your company pension might be paid weekly, but if the state pension is, that should sort the cashflow issue. I think you're looking for problems where there really aren't any.

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/82054607#Comment_82054607

I honestly don't understand how payment frequency can cause a problem. Over a month someone receives exactly the same amount irrespective of how often they are paid.

la531983

https://forums.moneysavingexpert.com/discussion/comment/82054627#Comment_82054627

No they dont. Because they only physically receive it every four weeks, I can easily see how it could cause cashflow issues, especially to those who have spent a lifetime dealing with monthly salary payments, anyone who cant is just being obtuse.

daveyjp

In addition state pension is paid on a particular day of the week based on your NI number. A change from the same day every week/four weeks to a date which will be a different day and will sometimes fall on a weekend, adds more complexity to a system which should be as simple as possible.

westv

Some people have too much time on their hands. 😊

la531983

https://forums.moneysavingexpert.com/discussion/comment/82054648#Comment_82054648

How do you think every single payroll system in the country copes with this? Its hardly rocket science.

MarzipanCrumble

I must admit I sympathise with the monthly rather than 4 week payment. Nearly all regular bills (utilities, council tax etc) are monthly.

Maybe this forum isn't the mostlikely to see any problem as for many SP is not their main pension, which is more likely to be paid monthly.

daveyjp

https://forums.moneysavingexpert.com/discussion/comment/82054655#Comment_82054655

Pension isn't a salary, its a benefit and like all benefits is paid weekly.

pinnks

If I were to go out on a limb I would say this will never happen. The reason being, the SP is part of the benefits legislation, linked directly to the Social Security and Benefits Act, Pensions Act 2014 (of course) and countless sets of secondary legislation. The consultations, Parliamentary time and system changes needed to make this happen would be hideously expensive and, I would suggest, not something any government could justify spending public money on.