HMRC's two hidden digits in your National Insurance number that will rule your retirement
manchestereveningnews.co.ukKnowing when your State Pension will be paid out is an essential part of managing your personal finances in later life, allowing you to budget and thrive while enjoying the fruit of your labours - but did you know that HM Revenue and Customs (HMRC) has hidden two digits in your National Insurance number that tell you which day you will be paid on?
This is true even for 16-year-olds, who are over 50 years away from retirement and unlikely to even pay tax. Yet, hidden in the string of numbers and letters that make up your NI number are two digits that tell you which day of the week you will get your pension payments.
Most pension payments from HMRC arrive on a monthly basis, but you can request to be paid weekly to help manage your money. Each month, the State Pension is paid out at the basic rate of £678 for older pensioners, which goes up to £884.80 for those on the full New State Pension.
To get this higher rate, you must have paid the required number of years on your National Insurance record, which is 35 years of NI contributions. READ MORE: Future of Revolution Bars uncertain after takeover bid falls apart Every person in the UK has their own unique NI number, made up of two letters, followed by six numbers, and a final letter.
Read more on manchestereveningnews.co.uk