Weekly payment of UK pension

[Krabi2111]

For the past two years or so I have had my my UK international pension paid every 4 weeks into my Wise account.

 

Does anyone know if it's possible to change to weekly, every 7 days and if so, do I need to send them an online enquiry form or should I call them?

 

Thanks

[Thailand]

"The basic State Pension is usually paid every 4 weeks into an account of your choice. You’re paid ‘in arrears’, which means you’re paid for the last 4 weeks, not for the coming 4 weeks."

https://www.gov.uk/state-pension/what-youll-get#:~:text=The basic State Pension is,rules if you live abroad.

 

I guess  you use your Thailand address. It could be paid direct to a bank here.

 

[Krabi2111]

Thanks but that wasn't my question.

 

Are you able to change from 4 weekly to every 7 days using Wise Ltd?

 

 

 

 

[Moonlover]

No it is not possible.

[Krabi2111]

 

The reason I ask is when Nationwide in Guernsey were operating, I changed payments from 4 weekly to every week with no problems and having a Thai address.

 

I will call international pensions next week.

[Gottfrid]

17 minutes ago, Krabi2111 said:

Thanks but that wasn't my question.

 

Are you able to change from 4 weekly to every 7 days using Wise Ltd?

 

 

 

 

NO

[blackshadow]

no can do.......they pay you every 28 days end of story !!!

[Krabi2111]

I think the answer therefore is to open an offshore bank account, as I did previously with Nationwide, and are then able to have payments made weekly.

[Moonlover]

My apologies for my earlier abrupt post.

 

https://www.radiotimesmoney.com/retirement/pension-advice/state-pensions-can-be-paid-every-seven-days-says-paul-lewis/

[Krabi2111]

No problem ML.

 

I also found the article above on a google search.

 

I know it's possible to have weekly payments using an offshore bank but not too sure if you can with Wise being a financial institution.

I will speak to international pensions on Tuesday.

 

Cheers

[Kwasaki]

1 hour ago, Moonlover said:

My apologies for my earlier abrupt post.

 

https://www.radiotimesmoney.com/retirement/pension-advice/state-pensions-can-be-paid-every-seven-days-says-paul-lewis/

I cannot think of a reason to be paid weekly.

[Moonlover]

48 minutes ago, Kwasaki said:

I cannot think of a reason to be paid weekly.

Well I must admit it's got me a bit puzzled. Maybe the O/P could enlighten us.

[Moonlover]

12 hours ago, Krabi2111 said:

No problem ML.

 

I also found the article above on a google search.

 

I know it's possible to have weekly payments using an offshore bank but not too sure if you can with Wise being a financial institution.

I will speak to international pensions on Tuesday.

 

Cheers

The criteria that governs whether DWP will pay pensions into an account are simply, account number, sort code and the correct name as account holder. Your Wise account obviously satisfies those requirements because they are already paying your pension into it, so there should be no problem.

 

I would be tempted to write rather than phone them. I know they can be very helpful once you get to the right person, but it's getting to that person that's the hard bit!

 

I am curious as to why you're considering this move. I also transfer my pension payments out here via Wise (albeit indirectly via NBS) But I wouldn't be tempted to do so weekly due to the additional transfer costs.

 

Anyway good luck with your quest.

[Kwasaki]

13 hours ago, Krabi2111 said:

No problem ML.

 

I also found the article above on a google search.

 

I know it's possible to have weekly payments using an offshore bank but not too sure if you can with Wise being a financial institution.

I will speak to international pensions on Tuesday.

 

Cheers

Once you have a 4 week payment made to your bank account you could take out weekly amounts from your account.

 

From what I  remember if you want change of your money payments it can only be done yearly. 

[Moonlover]

1 hour ago, Kwasaki said:

From what I  remember if you want change of your money payments it can only be done yearly. 

I think this restriction applies to the choice of country that you get paid into. They don't want 'snowbirds' chopping and changing every few months according to season.

 

[Krabi2111]

My reasoning for weekly payments to Wise is that I will have more control of my finance, i.e. transfer payments to my Thai bank as and when required.

 

Of course, I will not be making transactions weekly due to the higher fees charged by Wise.

 

I have written to international pensions on their online form requesting weekly but at the present time there may well be a delay in responding. I will also follow this up by calling them tomorrow or later this week and inform you of the outcome.

 

Thanks for your help.

 

 

[Moonlover]

1 hour ago, Krabi2111 said:

My reasoning for weekly payments to Wise is that I will have more control of my finance, i.e. transfer payments to my Thai bank as and when required.

 

Of course, I will not be making transactions weekly due to the higher fees charged by Wise.

 

I have written to international pensions on their online form requesting weekly but at the present time there may well be a delay in responding. I will also follow this up by calling them tomorrow or later this week and inform you of the outcome.

 

Thanks for your help.

 

 

There's merit to that. I have 3 pensions coming in, one on the 1st, one on the 15th and then DWP flowing between the 2 and rarely in sync with either. I'll have a play with a spreadsheet and see what affect it has on my monthly transfers.

 

Thanks for sharing.

[blackshadow]

22 hours ago, Kwasaki said:

I cannot think of a reason to be paid weekly.

because the computer system is geared up TO PAY EVERY PENSIONER THEIR pension every 28 days end of story 

[Krabi2111]

40 minutes ago, blackshadow said:

because the computer system is geared up TO PAY EVERY PENSIONER THEIR pension every 28 days end of story 

Not correct. 

 

Post a link to what you stated above.......thought not.

I will post tomorrow or later in the week with an update.

[Kwasaki]

55 minutes ago, blackshadow said:

because the computer system is geared up TO PAY EVERY PENSIONER THEIR pension every 28 days end of story 

I think you're wrong there, there were other options from what I remember at the time but I agreed to the 4 weeks and also for the UK pension to be paid directly into my Thai Bank.

[blackshadow]

12 hours ago, Kwasaki said:

I think you're wrong there, there were other options from what I remember at the time but I agreed to the 4 weeks and also for the UK pension to be paid directly into my Thai Bank.

so phone them and ask        easy

get it from the horses mouth.

 

[Kwasaki]

2 hours ago, blackshadow said:

so phone them and ask        easy

get it from the horses mouth.

 

I was commenting on OP you should read the thread probably the OP has his reasons.

I have been receiving my UK pension for 10 years no problems for me. 

 

[Krabi2111]

I have just been speaking to Emily at the international pensions and yes, I was able to get through immediately by pressing 4.  I thought it would be extremely busy considering first day back after their Easter break.

 

The lady asked me various security questions and changed payments to weekly with no further questions asked.

 

All done and dusted.

[OJAS]

On 4/18/2022 at 8:15 PM, Kwasaki said:

I think you're wrong there, there were other options from what I remember at the time but I agreed to the 4 weeks and also for the UK pension to be paid directly into my Thai Bank.

 

When I claimed the State Pension in 2015 the payment frequency options offered to me were every 4 or 13 weeks.