My pension is paid to me weekly on a Monday. I have read that the day when it is paid is based on the last 4 numbers of a person's N.I. number
If that is the case I should be paid on a Tuesday!!??
Also--why are some people paid monthly? (in arrears)
mine was paid today, i am on a monthly pension because i prefer it that way and all my bills are monthly. as to your first query i don't know to be honest.
It's based on the last two digits of your NI number. If they are 00 - 19 you payday is a Monday. Some people choose to have their pension paid 4-weekly.
Why are some people paid 'monthly'? Because they prefer it that way!
I like getting paid 'monthly', which is actually a 4-week cycle, because there are 13 payments in a year. That means that there's one calendar month each year when I get paid twice, effectively giving me a nice little bonus when compared to what I normally get each calendar month.
I didn't have a choice, I was told it would be paid four weekly. I asked if I died and there were still arrears on the pension would they be credited to my estate. The answer was it wouldn't be very good for the government if they had to do with everybody who died with their pension in arrears. I want it changing to weekly but don't know if I'll be allowed to.
>>> so i will get a double pension when its end of the year, is that right
No. It depends upon which day in January your first payment was. [Tell us the date of any payment you've had up until now and I'll be able to tell you when you can look forward to a double-payment (calendar) month]
Not quite, Emmie. If your pension day is the 1st, 2nd or 3rd (if there are 31 days in that month) then you get two payments. My pension day next month is 3rd May so my next one is due on 31st May (though they will be paid early because they are both bank holidays).
emmie, not necessarily at the end of the year, it depends how many of your payment days fall in the same month. Work it out with a calendar, make a note of your coming pension payments