State pension & Universal Credit payment dates to change this month – are you impacted? | Personal Finance | Finance
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State Pension is a payment available to individuals of an eligible age who have built up National Insurance contributions throughout their lifetime. Universal Credit, however, is a benefit available to individuals who are unable to work, or who are out of work. The important thing to consider is that both payments are overseen by the Department for Work and Pensions (DWP).
It is the Government department’s responsibility to ensure people receive their payment or benefit on time, and the amount to which they are entitled.
However, there is an important change scheduled to take place this month with regards to the payment for many.
While the change is a temporary one, it could affect when certain people receive their sum, so will be vital to note.
The summer bank holiday which falls on Monday, August 30 impacts when the DWP is able to process payments.
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As a result, then, it is those with the digits 00 to 19 or those used to receiving payment on Monday who need to pay attention.
Similarly, for Universal Credit, people are usually paid on a monthly basis.
If a person is expecting to receive their sum on Monday, August 30, this too will be impacted.
However, Britons should not be worried about being left out of pocket when it comes to their payment or benefit.
This is because to ensure financial security for state pensioners and Universal Credit claimants, payments will be issued early.
The Government has explained people should usually receive their sum on the working day before the bank holiday.
This means affected individuals can expect a payment on Friday, August 27, 2021.
Although the day a person receives their money will change, it will not impact the amount they get.
Individuals should still receive their regular payment this time, and the next time they are paid.
How much a person gets is, of course, dependent on their individual circumstances.
People will also not need to take any action in order to receive this earlier payment.
The DWP should issue this automatically, and Britons can check their bank, building society or credit union account to check this is the case.
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