State Pension: Payment dates will differ for everyone – you should check your NI number | Personal Finance

State pension has gone through certain changes in recent years. Anyone who reaches state pension age after 6 April 2016 will receive the “new” state pension. The new state pension requires a minimum of 10 years of national insurance contributions for any amount. Thirty-five years of contributions will be needed for the full amount which is £168.60 per week.

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State pensions will not be received automatically. Once a person reaches state pension age, they will need to claim it if they want to receive it.

There is no obligation to receive state pension at all if a person wants to carry on working. By deferring a state pension, it may be possible to receive more in retirement.

If a person is ready to claim their state pension they will need to head online.

Around four weeks before they hit state pension age, a person should receive a letter from the state providing details on how to go about it. There will be an invitation code within this letter which can be used to help with the process.

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State pension

How and when state pension is received will require some thought from pensioners (Image: GETTY)

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The state pension age will be 66 for everyone by October 2020 (Image: GETTY)

It is from this point that the specific dates of receiving state pension income will be affected.

People who choose to receive their state pension should receive their first payment within five weeks of reaching state pension age. This will obviously vary based on different dates of birth.

Beyond this, payments will come through every four weeks. In some cases, it is possible to receive part of a payment before the first full payment arrives but the invitation letter will detail what to be expected.

The actual day that future payments arrive will be based on a person’s national insurance number.

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State pension payments will only come through during the week, the should not come through on a weekend.

The payment day will depend on the last two digits of the receivers national insurance number.

If the last two digits are between 00 and 19 payment will come through on a Monday.

20 to 39 is Tuesday, 40 to 59 will be Wednesday, 60 to 79 is Thursday and 80 to 99 will be Friday.There are options available for people who can’t find or have forgotten what their national insurance number is.

National Insurance

State pension payments will depend on national insurance numbers (Image: GETTY)

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National insurance numbers can be found on payslips P60 forms or letters from the state concerning tax, pensions or benefits.

If it still cannot be found a CA5403 form can be completed and sent to the government for assistance.

There is also a national insurance number helpline that can be contacted but they will need specific questions answered. If they cannot be answered the person will need to try and find other measures of tracking down the number.

HMRC will also never tell a person what their national insurance number is over the phone, they will post the number to the caller but it could take up to 15 days for it to arrive.

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A large portion of the population will likely want to make sure they’re up to date with all of this as changes to state pension come in this week.

On 6 March, which is this Friday, both men and women born between 6 June 1954 and 5 July 1954 will see an increase in state pension age from 65 to 66.

Increases to state pension age are scheduled to occur every two months, with the next change coming in May.

The state pension age will continue to rise for the foreseeable future. By October 2020, everyone will hit state pension age on their 66th birthday. Beyond this, the government plans to increase state pension age to 68 between 2044 and 2046.