UKAEA Pension Scheme - Guidance for Pensioners

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.

A form for the notification of a change of these details is available via the following link click here to access form.

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.

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.