Millions of pensioners may not realise they can choose how often their state pension is paid into their bank account.
While the Department for Work and Pensions (DWP) typically issues payments every four weeks, recipients can request weekly or fortnightly instalments instead.
The option is available to those receiving either the New state pension or the Basic state pension, provided their payments are already made directly into a bank account.
Sandra Wrench, who spent 42 years working with state pensions and benefits at the DWP, has outlined how pensioners can switch payment frequency.
She said the process is straightforward for those already in receipt of four-weekly payments.
Mrs Wrench 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.”
She added there is also a postal option for those who prefer to make the request in writing.
“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,” she said.
The DWP has come under fire for not making this more known
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GETTYFor people who have not yet submitted a claim, she advised including a request on the application form.
Mrs Wrench said applicants can write “please pay my pension weekly” in the information box when completing their state pension claim.
She said the standard four-weekly cycle does not always align neatly with monthly household bills, which can make budgeting more complex for some pensioners.
Mrs Wrench said: “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.”
Are you affected by state pension age changes? | GETTY
She said people accustomed to weekly wages during their working lives may find it easier to manage finances if their pension is paid on a similar schedule.
The flexibility over payment frequency is not prominently highlighted during the application process.
In 2021, Paul Lewis, presenter of Money Box, wrote in the Radio Times: “The Government hides this option when people apply, as the application form simply says ‘State Pension is usually paid every four weeks’.”
From April, both the New State Pension and the Basic State Pension will rise by 4.8 per cent.
Both pension plans will rise
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Additional state pension elements and deferred pensions will increase by 3.8 per cent.
The full rate of the new state pension will rise from £230.25 per week to £241.30 per week, equivalent to £965.20 every four weeks or £12,547 over the course of a year.
The maximum basic state pension will increase from £176.45 per week to £184.90 per week, equating to £739.60 per four-week period or £9,614 annually.
The precise amount an individual receives depends on their National Insurance contribution record, with around 35 qualifying years generally required to receive the full new state pension.