Pension Payment

Mine, due 31st hasn’t been paid. Hopefully it will be in the French bank a few days early next week but, given the tardy nature of French banking as well, who knows?

Likewise digitracker, mine was due on 27th but arrived on 20th



Its great and I also got 1.185 exchange rate with revolut :smiley:

Bonus :yum::grinning_face_with_smiling_eyes::grin::sunglasses:

It appeared in my French bank today.

Someone said this week the DWP is currently running 26 weeks late on dealing with any new claims for state pension now?

I’m sure I saw coverage in the professional financial press around early October, that the head of the DWP stated then that the DWP had caught up on claims and they were now being paid on time. This was after earlier coverage in the financial press, IIRC in September, about the DWP leaving elderly pensioners with nothing to eat for months. Because those pensioners’ claims for the old age pension were still not starting to be paid. But the pensioners had been thrown off other benefits because they were now due for their state pension.

I’m not sure what to believe.

Pension payments to “foreign” bank accounts from DWP that were due on Monday were not paid on time and payment was delayed until today.
Reason: DWP have contracted out the payments to a US based facility and yesterday (10th Oct) was Columbus Day in the US :roll_eyes:
Checked our bank this morning and the payment has now been received. Just in case anyone was concerned…


My UK state pension is due on a Monday every four weeks. It has always appeared in my UK bank account the previous Saturday.

I was referring to DWP payments made to foreign banks which are made through a DWP agency in Dublin IIRC (Citibank).
UK payments in GBP would not be affected by this contract.


was that on Tuesday Graham? Are you happy to share the exchange rate? What I’m wondering is the rate better than using wise or revolut?

Mind you the rate’s probably been up and down a few eurocents in any case every day so probably not able to check?

I did notice.

Yes, the payment should have been made on Monday but was delayed to Tuesday.

1.13700. On Friday when mine was paid the rate was 1.1405

That’s somewhat subjective tbh. IIRC they forward purchase the currency so the rate on the day may be different.

Indeed… up and down like a tart’s drawers :wink:
Easier to check when it’s more stable but there’s no escaping the point that its horses for courses. If you have it paid in GBP, you are then free to exchange when the rate seems more favourable OTOH, having it paid directly in EUR to your French bank perhaps adds a layer of confidence to your bank about your financial stability with regular payments coming in. A matter of choice really.
We do both. Our DWP pensions are paid in EUR direct and the Govt Service pensions in GBP which gives us flexibility.
We exchanged GBP on 2nd October at 1.1412 using Revolut.
Looking at the ECB data on Tuesday, the rate was 0.87702 (1÷0.87703 = 1.1402 so make of that what you will.


Thanks. Using Tuesday’s 1.1402 gives a ‘fee’ of 0.32% for your exchange.

On Tuesday on £ sterling live there was a high of 1.1440 ish at 4PM with a spike at 1.146 but of course one would have to ‘land lucky’.

If having the pension paid in pounds and converting manually to euros a strategy could be to calculate the rate it would’ve been on the day and exchange at say +0.3 % - could do one of those Revolut market orders to make it more automatic.

I calculate 0.3% would make a whole £2.25 on a months worth of new state pension!