People on the New State Pension will get up to £221.20 each week during the current fiscal year, however, standard payments are usually made every four weeks — around £884.80 every pay period.
In the same way, people on the Basic State Pension receive up to £169.50 a week, amounting to £678 every four-week pay period.
Basic or New State Pension Recipients Can Switch to Weekly Payments
According to the most recent Department for Work and Pensions (DWP) figures, the State Pension presently offers regular financial support for almost 12.7 million pensioners across the country, with over one million retirees residing in Scotland. Nevertheless, many of them may not know that it is possible to enhance the frequency of their State Pension payments from monthly to weekly.
A former employee with over 40 years experience working for the DWP explained how easy it is to make the change, whether you are about to retire and claim the State Pension, or already receiving the New or Basic payments.
The most important thing to take into account is that the frequency can only be changed if the payments have already been arranged to be deposited into a bank account.
People Already on the New or Basic State Pension
The former DWP employee told the Daily Record: “If you have already made a claim for State Pension and are in receipt of four-weekly payments, and you want weekly payments, then phone the DWP change of circumstances (Pension Service) telephone number on 0800 731 0469, and request weekly payments.
“Alternatively write to The Pension Service, Post Handling Site A, Wolverhampton WV98 1AF, with your name address and National Insurance number and ask to be changed to weekly payment for your State Pension.”
People About to Claim the New State Pension
The ex-DWP worker clarified: “If you are yet to claim your State Pension, put in the information box on the State Pension claim form ‘Please pay my pension weekly’.”
The DWP insider also highlighted that the four-weekly pay frequency may make it challenging to budget for household bills when payments aren't made monthly, especially for someone used to receiving their salary at the end of each month.
They stated: “From your ‘budget point of view’ it may be easier to be paid weekly then you know exactly how much State Pension has been paid into your account each month.
“For some members of the public who are used to being paid their wages weekly, claiming a State Pension which is paid every four weeks, can cause problems financially and make it difficult for them to budget.”
New State Pension Payment Rates 2024/25
- Full payment rate: £221.20
- Every four-week pay cycle: £884.80
Basic State Pension Payment Rates 2024/25
- Category A or B Basic State Pension (full rate): £169.50
- Every four-week pay cycle: £678.00
- Category B (lower) Basic State Pension — spouse or civil partner's insurance: £101.55
- Category C or D — non-contributory: £101.55