State Pension Increase - when does it get paid
Looking to maximise PA via UFPLS
Client started claiming state pension part way through this tax year.
April 2020 state pension payment date is set for 2 April and four weeks later on 30 April.
When does the state pension annual increase get applied from? 2 April payment (i.e. in current TY) or 30 April payment (i.e. 2020/21 TY).
I know it's only a few quid - but it is annoying me that I can't find the answer.
Ta
Comments
I would guess it would be effective from 6 April. I've been looking around as well but all I can find is references to the state pension age increases and the inflation busting increase next April.
As all the other reliefs and allowances start from 6 April I would guess that is a reasonable assumption
Yep thanks @Andy_Schleider I think I have come to the conclusion that it would apply form the first payment of the new TY.
I believe that increases are effective from 6 April. As State Pensions are paid in arrears, the increase won't happen until the new tax year. See https://www.gov.uk/state-pension/what-youll-get