Pension Increase is the annual increase applied to your pension. The increase has been calculated and applied in line with your Scheme Rules and statutory requirements. The increase for April 2020 is 1.7%.

Your P60 shows the total of all payments you’ve received during the tax year. This may be different to your annual pension figure because it may take into account a number of factors such as a change in the annual rate paid to you, or an increase in pension during the year.

They are issued at or before the end of May, in line with HMRC rules.

We are unable to change your tax code unless HMRC tells us to do so. If you have any queries about your tax code or tax liability, please contact HM Revenue & Customs.

The amount of Pension Increase is set in accordance with the Rules of your Pension Scheme. Also, If you retired part way through the year, you may not be entitled to the full annual increase this year.

There are a number of reasons why this might happen. Some Schemes change the level of increase they pay each year, so the increase can vary from year to year. Another reason why this might happen is that if you have reached State Pension Age, some of your increase may be paid by the Government via your State Pension, so the Scheme increase only covers some of your pension.

Your State Pensions Age depends on when you were born. If you wish to check your State Pension Age, please visit https://www.gov.uk/state-pension-age.

In view of the current situation we are prioritising key services to all our pension scheme members which means that this year our focus is on ensuring you get the correct payments into your account. Rest assured that your pension increase has been applied in the normal fashion, and if you have any questions please contact us by email.

There are a number of places you may be able to check this, including the Scheme Rules, Scheme booklets or your Scheme website.