State Pension Christmas Payment Date and Pension Christmas Bonus Dates for 2023

Your guide to this year’s DWP payments for State Pension recipients 

If you receive the UK State Pension, you could be in line for up to three extra payments in the last few months of 2023. As well as the pension Christmas Bonus, you could be eligible for the Winter Fuel Payment and the second Cost of Living Payment.

Let’s take a look at when and how these payments could land in your bank accounts. We’ll cover:

• When can you expect your Christmas State Pension payment?
• What is the pension Christmas Bonus date?
• When will you get the Winter Fuel Payment?
• Did you know about the second Cost of Living Payment?

When can you expect your Christmas State Pension payment?

First, let’s not forget the regular monthly State Pension payment for December. The government doesn’t want anyone’s festive spirit dampened, so it brings forward the December payment for anyone whose normal payment week would be after Christmas.

Instead of paying you on one of the Christmas bank holidays (when banks and government offices are closed or at lower capacity), they get your money to you in advance. Your State Pension Christmas payment date will be no later than the last ‘banking day’ before 25 December.

What is the pension Christmas Bonus date?

We’d like to say that the pension Christmas Bonus (also paid to people receiving certain other benefits) will bring some extra cheer to make your holidays brighter. Unfortunately, as the payment has been frozen at just £10 since it was introduced in the 1970s, it won’t stretch very far!

Even so, it is free – and tax-free – money and there are no forms to fill out to claim it. You’ll receive it automatically between the start of December and Christmas if you receive the State Pension and live in the UK, the Channel Islands, the Isle of Man and Gibraltar. 

When will you get the Winter Fuel Payment?

Now, let’s talk about the Winter Fuel Payment: a warming extra payment for those born before 25 September 1957. This one-time annual payment is usually sent your way in November or December. However, some exceptions apply, and you can find all the details on the government’s Winter Fuel Payment page. 

In October or November, the government will send you a letter confirming the amount you’ll receive. Your payment varies based on your birth date and circumstances during the ‘qualifying week’ of 18-24 September.

Did you know about the second Cost of Living Payment?

For an extra boost this festive season, the second Cost of Living Payment could be coming your way. The Department for Work and Pensions (DWP) will be making payments of £300 in the first few weeks of November 2023.

It’s important to note that this payment isn’t available to everyone receiving the State Pension. Eligible people include those receiving certain benefits within a specific qualifying period – including Pension Credit, Universal Credit and tax credits.

Could you boost your Christmas income with equity release?

If you find that your State Pension and other benefits are not meeting your income needs, have you considered equity release? Thousands of homeowners have unlocked the extra money they need from their homes – without having to sell up or move.

Before you make a decision, you’ll need to speak to a specialist adviser. They can explain how equity release works, but also make sure you are aware of some potential pitfalls of this style of lending. For example, equity release will reduce the value of your estate and the amount of inheritance you leave.

You don’t want to rush anything, so our selected advisers can answer all your questions before searching for a plan that may best suit your wants and needs. To find out how much you tax-free cash you could release, check here or call us on 0808 178 3055 or request a call back to arrange an appointment with an adviser.

About Richard Groom. A writer with 20+ years’ experience across several sectors including financial services, Richard has a passion for writing clear and simple content on even the most complex of subjects. In his spare time, Richard loves exploring the hills and mountains of the UK on long walks with his faithful cocker spaniel. Follow Richard on LinkedIn