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A woman who receives the state pension has spoken about a benefit people may not know about. Kim Wintermeyer also shared some useful information about the scheme people might want to know.
Kim claims that while she has noticed “one big positive” since she started receiving her state pension payments, she claims not many people are talking about this perk.
Taking to TikTok, Kim said you can even save money to put towards treats, such as holidays. Pensions are a hot topic at the moment, given Brits could be seeing some major changes to the state pension soon.
This week, the work and pensions secretary announced a review of the state pension age. This review takes place every six years and the current age is 66. However, the last one concluded in 2023, and the new one is set to finish in 2029.
The review will look at whether the current state pension age is still considered appropriate. Factors such as life expectancy get taken into account to assess this.
Kim said: “I thought I’d tell you something really positive about the state pension. Obviously, there are lots of negatives that happen when it comes to pensions.
“The fact that I get taxed on my other earnings, even though I’ve paid tax all this time, that I had to wait until I was 67 in order to be able to claim it; however, there is one particular thing that I found amazing.
“Unlike other forms of wages or payments, which would come in on the first or last of the month, the state pension doesn’t do that. It comes in every four weeks, which means the date changes all the time.
“It also comes in 13 instalments. Now, wise ones of you will say ‘yes, there’s only 12 months in the year, so how does it do 13?’ That’s why it does it in every four weeks, but that means that one month you get paid twice, and this is my month where we get paid twice, which is really handy for holidays and things.”
Even though she budgets every month, Kim said she doesn’t budget for the extra payment, so the extra bonus is “brilliant”. It’s one of the really good things about state pension, according to Kim, as she thinks it’s a really nice little “pick me up.”
According to the government website, the basic state pension is usually paid every four weeks. The day the pension is paid depends on your National Insurance Number, which means not everyone is the same.
After Kim shared her personal story, many people reached out to her to share their own experiences. It seems people use their extra payment in different ways.
One said: “I use the extra payment to cover Christmas costs.” Another added: “Oh, that makes sense. I can’t wait to retire next year.”
A third replied: “I get my state pension fornightly, which is much better than four weekly.” Meanwhile, a fourth commented: “That is interesting. I didn’t know that.
“Hubby used to get it paid four weekly. Tricky with bills that go out on the same day every month but, when you sort out your budgeting, it is a great bonus.”
Someone else also chimed in with: “That’s a lovely little bonus. Every four weeks sounds ace.”
To find out more about the state pension, and how it can be paid, visit the Government website.
