§ Mr. Lawrenceasked the Secretary of State for Social Services if, in view of the loss of income to state pensioners who accept payment by credit transfer arising from the payment on the last banking day of each four-week period, he will consider paying the pension earlier in the monthly cycle or some other remedy.
§ Mr. RossiNo. Payment by credit transfer is no more than an option now available to pensioners. Those who choose this option as to method of payment do so in the knowledge that crediting will occur on the last banking day in each four or 13-week period.
Pensioners who wish to receive their pensions earlier in each payment period can of course have them paid by weekly order book. Whichever method has been chosen, the pensioner will receive an identical amount of pension over a given period of time.