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The full (boring) answer is that there is a cycle of 112 years to cover all the possible permutations.
Normally calendar based puzzles repeat every 28 years (to allow for the four year leap year cycle and the seven days of the week), but 28 years doesn't divide exactly by 4 weeks, so you have to go up to 112 years for the full cycle in this case.
There are then 48 coincidences in the 112 years (I'll spare you the arithmetic) for any date between the first and 28th of the month, 45 coincidences for the 29th, 44 for the 30th and 28 for the 31st.
So my payment dates will coincide 48 times in 112 years.
This is an average of 3 times in every 7 years, or (as factor says) once every 28 months - but often it will be much longer than that and occasionally as little as one month.
nerdy dave xx