State pension payments may be issued today as payment dates shift | Personal Finance | Finance

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Many older people will be relaxing after what might have been a stressful season of Christmas planning. The festive season can be an expensive time of year, and understanding when one is likely to have money coming in will be key.

However, there is likely to be a slight disruption to payments occurring today for certain individuals.

While the Christmas Bank Holidays have now passed, the new year is fast approaching – bringing another bank holiday.

Just like Christmas 2022, New Year’s Day 2023 will fall on a Sunday this year.

To compensate for this, Britons can expect a bank holiday to be built in on Monday, January 2, 2023.

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Pensioners can look towards the last working day before a bank holiday for a clue on when they are likely to be paid.

In this instance, the last working day before the new year is Friday, December 30, 2022 – today.

As a result, those who expected payment on January 2 should be paid early.

It means they will have to wait slightly longer to receive their next payment, but should also mean they do not have to wait this time around.

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The earlier state pension payment should arrive in bank, building society or credit union accounts automatically.

January 3, 2023 will be a normal day for the UK, except in Scotland where it will be a bank holiday as a substitute for the usual January 2, 2023 bank holiday.

As a result, those in Scotland expecting payment on January 3, 2023 should also be paid on December 30, 2022. 

Services should return to normal for everyone by January 4, 2023.

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