Details about how pensions are paid from the Scheme and how you can view your payslips can be found below. You can also learn about how pension increases are calculated and contact details should you have any queries about the tax you’re paying.
Your pension will be paid each month. Your payment date will depend on which section you're in; the date is confirmed in your retirement letter. You can download your annual P60 from the online member Portal, which shows the tax you’ve paid and the pension you’ve received in each tax year.
Payslips are also available to view or download on the Portal and will no longer be sent to you by post unless you specifically request this.
If you haven’t already registered for the Portal, you can see how to register here.
Your pension is usually increased in line with inflation, which may be capped at a certain level. The rules that apply to the Scheme determine how your benefits are calculated. The increases might not be equal to the rise in inflation and can depend on the type of pension you have. Most members will be told each year of any changes to your pension.
Your pension is taxed as income through PAYE and this is based on the tax code given to us by HM Revenue & Customs (HMRC). If you think you’re paying the wrong amount of tax, you’ll need to contact HMRC directly to let them know. You can find out how to do this at www.gov.uk
You may still be taxed on your UK pension even if you’re living overseas – so please visit the GOV.UK website if you need more information. You can also call 0300 200 3300 (don’t forget to have your National Insurance number to hand) or write to:
Chapel Wharf Area Trinity Bridge House 2 Dearmans Place Salford M3 5BS
Complete your Expression of Wish to confirm your nominated beneficiaries for certain death benefits.
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