State pension, Universal Credit and other benefit data was released by the DWP yesterday and the information revealed retirees are foregoing a lot of what they’re owed. Analysis of these figures shows while the Government’s efforts may be saving them money it is at the detriment of the public.
“As the goal posts shift, the prospect of enjoying a retirement grows weaker for millions of people.
“Our working lives are getting longer, but this is not necessarily aligned to a rise in healthy life expectancy, which is falling, particularly for women.
“Healthy life expectancy is 62.9 years in good health for males and 63.3 years for females, according to the ONS. So State Pension age rises will require more people who don’t have access to a work or personal pension to work through age-related ill health.
“For workers, this serves to underscore the need to contribute as much as possible to a workplace or personal pension while you are in employment, to reduce your individual dependence on the state pension when you retire.”
Initial payments may take up to five five weeks to come through but beyond this, full payments will arrive every four weeks.
The actual payment day of the week will depend on the claimants National Insurance number, with the last two digits of this number determining when the payments will arrive as detailed below:
- 00 to 19 – Monday
- 20 to 39 – Tuesday
- 40 to 59 – Wednesday
- 60 to 79 – Thursday
- 80 to 99 – Friday
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