Payslips and tax
- Starting a new pension?
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The first payment of your pension will be made soon as possible, on the normal payroll run date after your retirement.
If your retirement date and the payroll run date have already passed, then payment of any pension due will be made at the end of the following month.
Your first payment will include everything due to you since your retirement date.
- Your Payslip
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Your payslip shows you:
- gross pension - pension you are due for that month - on the left hand side
- deductions - such as tax or membership subscriptions - on the right hand side
- net amount of pension - pension, less any tax and membership subscriptions- at the bottom
- What about tax?
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Your annual pension is taxable income. We use the tax code supplied to us by HM Revenue and Customs (HMRC). If you believe your tax code is incorrect then you should contact HMRC on 0300 200 3300.
Any under or over payment of tax will be collected through the payroll, provided the correct code is received in the current tax year.
When we initially set up your pension record on our payroll, HMRC instruct us to use the emergency tax code 0T on a week 1 month 1 basis (unless you have retired from active employment and your former employer has forwarded us your P45 detailing your correct tax code). We then send all your details electronically to HMRC who will make an assessment and inform us of the correct code.
HMRC instruct us to set up all children's pensions on the tax code 1257L.
If you contact HMRC you will need to provide:
- your National Insurance number
- the Scheme description = Firefighters' Pension Scheme
- the PAYE reference as follows:
For PAYE Tax Reference HIWFRA members 120/UA67567 West Sussex FRA members 120/BB92404
- What tax code are you using for my pension?
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- If you have paid income tax on your pension, the tax code will be on your most recent pension payslip
- Please contact HMRC if you think your tax code is wrong. You will need to provide your National Insurance number and PAYE tax reference.
- I have a new tax code
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You do not need to tell us if you receive a new tax code.
HMRC will advise us of the code - this may be shortly after they contact you with a new code. We are not allowed to change the tax code for your pension until we receive this notification from HMRC.