How is the pension paid?
Pensions are paid into your bank or building society account each month. This helps to avoid any risk of delay and ensures that your account is credited on the day the payment is due.
If your pension is paid to your account you will be sent an initial payment advice.
If you are moving overseas we will pay your pension into a UK bank or building society so please make sure that you do not close your account.
How will my Lump Sum be paid?
Your lump sum is paid directly into your bank or building society and the payment will be made soon after your last day of employment providing you return all the necessary forms and certificates.
You are strongly advised to seek Independent Financial Advice regarding the investment of your lump sum.
Pension Reference Number
As a pensioner you are allocated a unique pension reference number, which you need to quote if you contact us. You can find this number on your notification of benefits letter or on your pension advice slip in the following format:
|Payroll Number||Pay Number|
When is the pension paid?
If your pensioner payroll number is 098 your pension is paid on the last working day of the month.
If your pensioner payroll number is 099 your pension is paid on the 16th of the month (or the nearest working day before).
You will only get a payslip in March, April and May each year showing any increases in your pension benefits. The only other time that we will send you a payslip is if your pension changes by more than £1 from the previous month.
You will receive a P60 in May each year showing the amount of pension paid and tax deducted in the previous tax year.
My Pension Online
Once in receipt of pension you are able to register for My Pension Online, this on-line service allows you to view your payslips and P60 electronically. You can also change your address, bank or nomination details using the service.
Setting up a password
Registering a unique password with the Pension Fund on retirement enables members to advise us of changes in personal circumstances without having to provide written instructions.
You will be given an opportunity to take advantage of this service when you receive your retirement pack or you can contact the Pension Fund for a form.
National Insurance Number
Date of Birth
Mother’s Maiden Name
Password (minimum of 7 letters & maximum of 16)