Pension payments

Your Payslip 

You can view and print your payslip through our Member Portal.

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

If you have just retired, we may not have time to make your first payment in the first payroll run after you retired. Your first payment will include everything due to you since your retirement date, and this will be shown on your first pension payslip.

If you have not received your pension

If you have not received your pension please contact us as soon as possible.

  • If your pension is due to be paid on a Saturday, Sunday or Bank Holiday, we pay the pension on the weekday before
  • If you have checked your account online or at an ATM (cash point), some information may not show straight away. You could ask at your bank or building society or try again the next day
  • If mail we sent you has been returned to us by Royal Mail we may temporarily stop your pension. Contact us. We may ask you to complete a form in the presence of a witness to make sure we pay pension to the right person. We will pay your pension again as soon as possible
  • If you have changed your bank or building society please check your old account. You could also call us to see if we received the new details
Pensions increase

Pensions are increased each April in line with inflation – this is called Pensions Increase. If your pension has been in payment for less than a year, you will not receive full Pensions Increase. Your pension will not be increased if you are below age 55 (unless you retired due to ill health).

If you are eligible for Pensions Increase:

  • your pension for April will include Pensions Increase to cover the part month April increase
  • payments for May onwards will include Pensions Increase for the full month
  • there will not be any Pensions Increase in years when CPI is zero