Pension Payments.

[rich47]

Can anyone explain why if I became 65 on May 13th my pension begins to be paid from May 19th and every 4 weeks thereafter.
What happens to the pension due for the six days from 13th to 19th.
It seems it is just lost, gone forever.
We are not talking vast sums here but it seems completely unfair.
Rich

[sandyRoe]

The pension is paid 'in arrears'. Who knows why?

[sandyRoe]

I'll be getting mine just about a month after you

[craft1948]

It's to do with your National Insurance number, but I can't remember exactly how.

[KJN]

http://www.pensionsad...s/how-will-it-be-paid

[factor-fiction]

I suppose when you work you get paid at the end of the week (or month) so the arrangements here are no less favourable than that.

[jd_here]

It's paid in advance if you have it weekly, well at least mine is, every Monday

[factor-fiction]

Are you sure-jd_here? Are you sure you didn't have to wait until the next Monday before you got the first payment?
The arrangements are set out here
http://www.pensionsad...s/how-will-it-be-paid
I suppose if you have to wait a few days and then get paid a week's worth it's not too bad

[jd_here]

Yes factor 30, my 65th birthday was on a Saturday and I had to wait until the following Monday to draw it. Since then I have been paid every Monday into my bank in advance.

[craft1948]

Stop whinging................unfair is that you will be getting the higher personal tax allowance, but when I reach 65 next year I won't.

[rich47]

I don't think I made it clear.
The first pension payment is for the period 19th to 25th May and will be paid on May 25th.
I have no problem with that.
However I turned 65 on May 13th so what about the pension for the 6 days between May 13th and 19th.
It appears that will never be paid.
Do you think that is fair?
Regards,
Rich

[KJN]

No it is not fair that you should loose six days pension payment, you retire at 65 on your birthday and as far as I am concerned you should be paid from that day, but this is the way things are and we have to lump it. Not ideal but sadly the way it is.the next step will be when the tax guys come knocking for their bit from the pension that you have been paying into in some way for the past 50 years or so. Happy days. Not too sure about that. I guess the way things are we will be told " think your self lucky the government pay you a pension at all" .

[hc4361]

Have you phoned them and asked them why you have this anomaly?

[factor-fiction]

So are you saying that these payments are not being made in accordance with the arrangements set out in the above links which include this extract:

"Your payment date is linked to your National Insurance Number. The table below shows the allocated paydays. Your state pension becomes payable on the first allocated payday following your SPA. It is then paid each week on your allocated payday thereafter.

Last 2 numbers of NI number Payday
00 to 19 Monday
20 to 39 Tuesday
40 to 59 Wednesday
60 to 79 Thursday
80 to 99 Friday
So, if your NI number ends with 56, your state pension will begin on the first Wednesday after your SPA."

[boxtops]

You may find that your first payment contains a few extra days, to allow for the fact that you are eligible from May 13. Factor's table shows how they decide the timetable.

[Lawden58]

Hi Rich47

I think state pensions are paid from Sunday to Saturday.
My wife passed away on the Monday and her state pension was paid to the next Saturday.
In relation to her occupational pension she passed away on the 30th of the month at 11pm ie one hour before midnight. It was a 31 day month.
She was paid her pension on the 20th of the month and the trustees asked for 2 days pension back even though she passed away 1 day and 1 hour before the end of the month.
My married mans allowance went on till the next April,

Lawden

[rich47]

Hi boxtops,
No the first payment does not include anything for those days.
That money is lost forever.
Factor 30 , if you were correct then my pension would be paid on
May 18th which is the first Friday after my SPA. (My NI No. ends 98)
KJN,
The government are not paying me anything,it is my money coming back to me after many, many years of contributions.
Rich

[factor-fiction]

"The government are not paying me anything,it is my money coming back to me after many, many years of contributions. "

I agree that too often references are made to the government paying out their money when it is our money we have entrusted to them.

However I'm not sure I agree that NI contributions directly fund our pensions. On average I am sure most pensioners receive more back in state pensions than they paid in NI contributions.

I would agree that if indeed you miss a few days pension it seems unfair, but the amounts involved are trivial compared with several much bigger issues around unfairness with pensions- e.g. some women received it at 60 whereas some will have to wait until 67, some will get age related allowances while some won't, those who saved for small private pensions find they wasted their money as they lose out on Pension Credit, etc

[hc4361]

Sorry for repeating myself, but PHONE the Pension Service.

[rich47]

hc4361 Do you think that was not the first thing I did?
The response from a rather shirty female was that it was "government legislation" and directed me to a website containing the Pensions Act 2007.
Useless!
But thanks for your consideration anyway.

[ladybirder]

Factor mine is 99 and I get paid on a Monday so I don't get that.
Rich, I too felt aggrieved when I lost 6 days of pension, like you at the start, and still feel pee'd off about it many years later. Our pension should begin on our birth date when reaching SPA.