New State Pension payment options for people due to reach DWP retirement age this year
dailyrecord.co.ukThe latest statistics from the Department for Work and Pensions (DWP) show the State Pension currently provides regular financial support for nearly 12.7 million older people across the country, including over one million retirees living in Scotland.
This payment is available for those who have reached the UK Government’s eligible retirement age, which is currently 66 for men and women, and have paid at least 10 years' worth of National Insurance Contributions.
Many people approaching the official retirement age this year may not be aware that this contributory benefit, currently worth up to £203.85 each week, is not paid automatically by the DWP and needs to be claimed.
They also might not realise that payments can be made weekly, fortnightly or every four weeks. One of the members of the Daily Record Money Saving Scotland Facebook group shared that the different payment methods will only be offered if you make your State Pension claim over the phone.
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