The Department for Work and Pensions (DWP) is changing benefit payment dates due to the upcoming bank holiday on Monday, May 26. Millions of Universal Credit, State Pension, Personal Independence Payment (PIP) recipients, Carer’s Allowance, and Jobseeker’s Allowance will receive their payments three days early, on Friday, May 23. Normally, these benefits are paid on specific days based on the last two digits of the recipient’s National Insurance number.
Payments due on Monday will instead be deposited around midnight on Friday. However, personal finance experts warn that the early payment could leave many struggling financially before their next payment is due. Recipients will now have an additional three days to cover in their budget.
Fiona Peake, a personal finance expert, said, “Getting your money on Friday instead of Monday might feel like a win going into the long weekend, but you’ll have three extra days to stretch it.
DWP adjusts benefit payment dates
That can throw your budget out, especially if you’re living week to week.”
Peake advised recipients to recheck their bank accounts before panicking if payments haven’t arrived by midday on Friday.
She also cautioned against assuming that benefits will always be paid early around bank holidays. If your next due date falls on a normal working day, your payment will be returned to its usual time. If you’ve spent early, you might already be playing catch-up,” Peake explained.
She suggested freezing debit cards on payday to avoid impulsive spending. “It might sound extreme, but freezing your debit card can give you a cooling-off period before making impulse buys,” Peake said. The DWP confirmed the early payments and provided a list of the benefits being paid on May 23, which includes Universal Credit, State Pension, PIP, Carer’s Allowance, JSA, Employment and Support Allowance (ESA), Income Support, Attendance Allowance, and Pension Credit.
