Your pension is paid directly into your bank account on a monthly basis unless you make alternative arrangements.
Remember to inform us immediately if your circumstances change either temporarily or permanently. If you don’t do this, you may miss out on a payment if your bank account or address changes.
Monthly payments
Your pension is paid into your account on the 15th day of each month. If the 15th falls on a weekend, your pension is paid on the Friday before (either the 13th or 14th).
The payment covers the calendar month: your pension is paid two weeks in advance and two weeks in arrears.
The amount due from the partial month at the start of your retirement will either be paid during your first month or will be added to your payment for the first full month of your retirement. This depends on the amount of notice your employer gives us.
Payment advice slips
You’ll get a payment advice slip with your first payment, and then every April and May if you receive an increase in your pension.
Your May slip will contain your P60, which you’ll need if you fill in a tax self assessment form.
You’ll also get an advice slip every time your pension varies by more than £5.
Life certificates
From time to time you may be sent a “life certificate”. This is to protect against fraud.
If you receive a life certificate, it will need to be signed by someone who knows you personally but is not a family member. Make sure it is returned as soon as possible - a delay might affect payment of your pension.
More information
A Guide to the Local Government Pension Scheme has full details of the LGPS. If you would rather receive a copy by post, contact us.