state pension payment cycle

chesky369

a whole extra £6.12p per week - gosh, what to spend it on - caviare and champagne, perhaps not. Sorted is probably right - council tax.

[Deleted User]

I`m hoping that my first payment goes in tomorrow and if so I`ll ring them re weekly payment too. I can`t be doing with different dates every month

Errata

chesky369 wrote: »

a whole extra £6.12p per week - gosh, what to spend it on - caviare and champagne, perhaps not. Sorted is probably right - council tax.

.......and we musn't forget to get all excited about the extra 25p a week we'll get when we reach 80 ! Thank you Gordon Brown !!!!

Savvy_Sue

You've got me wondering now, can I get my Child Benefit paid weekly these days? Not for much longer, I know, but every little helps ...

Answer, NO, not unless I'm a single parent or DH is claiming certain benefits. Huh. Ageism ...

Savvy_Sue

Well, either they haven't updated the websites which come up on a google or there are lots of mums in your area still on cash payments or entitled to weekly payments.

Maybe by the time DS3 leaves school it will be possible, ie too late for me as usual!

getting-sorted-sarah

It costs more to make more frequent payments, so obviously they'd rather not pay weekly (although it is beyond me why they can't pay calendar monthly). I think the decision with Child Benefit was to only pay weekly to the most impoverished, who might find it hard to manage otherwise - thus single mums and families reliant on benefits (nothing to do with ageism).

After all, everyone with children is entitled to Child Benefit, regardless of their income.

EdInvestor

getting-sorted-sarah wrote: »

It costs more to make more frequent payments, so obviously they'd rather not pay weekly .

Don't think the actual process of weekly payment costs any more - it's all done automatically by computers these days What 'costs more' is that they lose the interest on the money if they pay it out earlier - as has been pointed out further up the thread..

Savvy_Sue

I still think it's ageist if pensions can be paid weekly without it being on a means-tested basis, but not Child Benefit. Older people are being treated more favourably than parents. I've got to wait for my pension, and in the meantime I can't have my CB weekly, because I'm not a single parent and I'm not on benefits.

But I'll try not to lose sleep over this ...

Craftyscholar

Biggles wrote: »

I opted for payment weekly; that way you get it at the beginning of the week it relates to, and can enjoy the full interest.

If you opt for four-weekly, you get it at the beginning of the fourth week and, as pointed out, it isn't us that gets the interest then!

I didn't realise you could get it paid weekly and four weeks rather than calendar month has been bugging me too.
Thanks for the info will definitely need to investigate. Also don't want to give the government the interest.

getting-sorted-sarah

EdInvestor wrote: »

Don't think the actual process of weekly payment costs any more - it's all done automatically by computers these days What 'costs more' is that they lose the interest on the money if they pay it out earlier - as has been pointed out further up the thread..

Yes, it does. There is a charge for each BACS transfer - it costs more to make more frequent payments. (The banks charge, in the same way as they charge for credit card transactions or cashing a cheque - to businesses.) I used to work for the DWP.