DWP issues Post Office alert to state pension & benefit recipients – will you need to act? | Personal Finance | Finance


The DWP is responsible for issuing state pension payments to older people, as well as benefits to meet a wide range of needs for Britons. Ultimately, many people are reliant upon DWP payments to help them boost or manage their finances. Individuals will be able to receive their payment of State Pension or a benefit such as Universal Credit or PIP in a variety of ways.

It is likely to be the case these individuals will need to take action to ensure they still receive the payments to which they are entitled. 

Taking action ahead of the November deadline is likely to help Britons to avoid a rush to get their finances in order.

For those who have a Post Office Card Account, letting the Government know where they wish to receive their payments next is key.

Once the account comes to an end, the DWP can redirect payments with ease, as long as they are aware of the person’s wishes.

The DWP said: “Our dedicated customer service centre is available to take calls from POca customers, to accept new account details or answer any questions.

“We will ensure all future payments are switched to the customer’s new account from the next available payment date. There will be no interruptions with their payments.”

It is important to note, though, that benefits or state pension payments will not stop.

People will simply have to draw out their money in an alternative way, but there are a host of options available.

Fortunately, the DWP’s letter is likely to offer an explanation of the different choices available to individuals.

But on the Post Office website, there is also a section marked ‘POca conversion’ which is likely to help. 

If a person already has another account, they will simply be able to call the DWP helpline to switch their benefit or state pension payments.

Individuals will be required to inform the DWP of their bank account number and sort code to enable a smooth transition.

However, for those who do not have an alternative account already, it will be necessary to set one up.

There are many bank accounts, building society accounts or credit union options which may suit an individual’s needs.

People may choose to undertake their own research, or visit the Money Advice Service online for further guidance.

Once a person decides on their new account and makes a payment switch, they will then need to close down their Post Office Card Account.

It is important to bear in mind this action should only be taken when payments are confirmed as being received into the new account.

The Post Office has said to close the account, Britons will need to pick up an account closure form known as a P6703 from their local branch.

Alternatively, they can reach out to the Post Office contact centre to have this form posted out to them.

Once the form is completed, individuals will need to take this to their local Post Office where it will be forwarded for processing.

The account closure process will usually take up to 10 working days, but any funds which remain in the account will be transferred to an account of a person’s choice. 





Source link

Comments are closed, but trackbacks and pingbacks are open.