Information for pensioners

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Scheme Rules Useful Resources Tax Year End FAQs Pension Increase FAQs Reporting a death Notes on Annual Allowance

The information on this site is for general use and is provided for information purposes only. It cannot cover specific protected rights that apply to a very limited number of employees. If you need to talk to somebody about your pension, please contact the scheme administrators. If you need information about your State pension you should contact the Department of Work and Pensions. Their website can be accessed at www.dwp.gov.uk

See here for additional useful information.

The UK tax year ends on 5th of April. See here for Tax Year End FAQs.

The annual Pension Increase is awarded in April 2025, please see here for Frequently Asked Questions (FAQs).

 

Change of address or bank details

You must advise the scheme administrators immediately of any change in your permanent address and you must provide details of a current Bank or Building Society account into which your pension may be paid. A delay in doing so could result in late payment of your pension or even the suspension of the payments being made.

  • The form to notify of a change of address is here

  • The form to notify you’ve changed bank details is here

Payment of pensions

When will my pension be paid?

Pensions are paid monthly in arrears directly into your bank or building society account normally on 28th day of the month. If you are an overseas pensioner, the time taken for the payment to be cleared into your bank account is dependent on the banking processes and timing of public holidays in the country in which you live.

Will I receive a payslip?

A pay advice slip will be sent when your pension commences. Thereafter, a payslip is normally issued only when there is a change of £1 or more in the amount of net payment due. However, you will receive a payslip in April and May each year detailing the amount of pensions increase.

You will also receive a P60 certificate for tax purposes normally towards the end of May each year.

Allocation of pension

What is allocation?

When you finally retire and take your pension you have the option to give up part of your pension to provide benefits for another person after your death. This is known as allocation of pension. You may choose to add to the benefits you have already provided for your husband, wife or civil partner, or to provide for another person who is dependent on you.

You need to remember a number of points about allocating part of your pension.

  • you give up part of your pension permanently
  • you cannot give up more than one third of your pension (sometimes this limit is lower)
  • you must make your allocation decision before your pension is put into payment
  • you must be in good health (we will need proof)
  • you cannot change or cancel the allocation, even if the person who would have received the benefits dies first
  • the pension you allocate is payable for life and is not affected if you get married again or enter into a civil partnership

 

Graduated Pension

Will my pension be affected by the National Insurance Graduated Pension Scheme which ceased in 1975?

In general, most scheme members did not participate in the National Insurance Graduated Pension Scheme which came to an end with effect from 6 April 1975 and therefore their scheme benefits are unaffected. Those few who did participate will have their scheme pensions reduced correspondingly by a small amount if the amount of Graduated Pension earned is more than £5.20 per year.

Quick Links

Scheme Rules Useful Resources Tax Year End FAQs Pension Increase FAQs Reporting a death Notes on Annual Allowance

Need some help?

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    0345 408 2991

    member.web@equiniti.com

  • Pensions Helpline

    +44(0) 333 207 5961

    ukaeapensions@equiniti.com

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