Pensioners are being alerted to a code which could mean they get receive their benefits early this month.

A bank holiday on the last weekend of August means that some state pensions, and other benefits, may be paid early next week.

The Department for Work and Pensions (DWP) will not make payments on Bank Holiday days, meaning anyone who would usually be paid on these dates can look forward to receiving their benefits early.

The day you receive your pension money is dictated by your National Insurance number, with those whose final two digits are between 00 and 19 being paid on Monday.

The Northern Echo: Many pensioners will receive payments early this month due to the August Bank HolidayMany pensioners will receive payments early this month due to the August Bank Holiday (Image: Getty/malamus-UK)

If your final two numbers are between 20 and 39, you will be paid on a Tuesday; a Wednesday if the numbers are between 40 and 59; a Thursday if they are between 60 and 79; and a Friday if the final two digits of your National Insurance number are between 80 and 99.

Anyone who was due to be paid their pension on Monday, August 28, should instead expect to receive their pension on Friday, August 25 as a result of the benefit.

Anyone in receipt of the following benefits may also receive an early payment ahead of the August bank holiday, however this will not be dictated by their National Insurance number:

  • Universal Credit
  • Personal Independence Payment (PIP)
  • Employment Support Allowance (ESA)
  • Jobseeker’s Allowance (JSA)
  • Attendance Allowance
  • Carer’s Allowance
  • Pension Credit
  • Working Tax Credit
  • Child Tax Credit
  • Child Benefit
  • Guardian’s Allowance

DWP £899 cost of living payments

Many people in receipt of the above benefits may also be eligible for a further £899 of support from the DWP in the form of cost of living payments.

The first of three cost of living payments, worth £301, was sent out to more than eight million homes in the spring, while a six million homes on disability benefits also received a £150 cost of living payment in June.

There are still more DWP payments to come this year though, with the next being a £300 cost of living payment sent to more than eight million homes.

The DWP say this will be paid in Autumn 2023.

Who can claim DWP cost of living payments

There are several benefits that could make claimants eligible for the Cost of Living Payment, including Universal Credit and tax credits – through which 5.4 million households across the UK are expected to qualify, and Pension Credit, through which 1.4 million pensioner households are expected to be paid. 1.3 million will be eligible through legacy DWP benefits such as Jobseekers Allowance and Income Support, reaching a total of 8.1 million households.

Eligible individuals do not need to apply for payments, as they are made automatically. Those eligible for cost of living payments through tax credits, and no other means-tested benefits, will be paid by HMRC shortly after DWP payments are made.

Dates for DWP cost of living payments

The exact payment dates are yet to be announced by the DWP, but this is when to expect each individual payment over the next year:

  • Second cost of living payment - £300 – Autumn 2023
  • Pensioner payment - £300 – Winter 2023
  • Third cost of living payment - £299 – Spring 2024