MP Advises local pensioners on New Pensions Payouts

12.45.31pm BST (GMT +0100) Tue 27th May 2003

Vincent Cable MP with Pensioners at Whitton Day Centre

Vincent Cable MP meets local pensioners at the Whitton Day Centre on Wednesday to answer questions about the new government arrangements for paying pensions into bank accounts rather than through pension books.

He said: "This is a big change involving millions of people. For those who are happy to draw their pensions from the bank there is absolutely no problem. But for those without a bank account or who simply prefer to get their cash from the Post Office it is more complicated."

"Organisations like Age Concern can give advice (0800 00 99 66 Free to call) but I am worried that the government is putting unnecessary obstacles in the way and many pensioners will need advice from those they know and trust in the local community".

The various options are:

Pensioners and benefit recipients can choose to cash their money in a bank or via a cash point.

If they bank with Nationwide, Barclays or the Co-op bank among others they can cash a cheque at the Post Office - but not customers of Halifax/Bank of Scotland, Natwest/ Royal Bank of Scotland or HSBC.

They can obtain a card (a Post Office Card Account) to continue to obtain cash from the Post Office via a 'pin' machine but there are several steps to the application process. Also there are some problems being reported with the 'pin' machine in terms of access for disabled people.