Payslips and tax

Starting a new pension?

The first payment of your pension will be made as 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 payslip

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?

Your annual pension is taxable income. We use the tax code supplied to us by HM Revenue and Customs (HMRC). If you believe that your tax code is incorrect then you should contact HMRC on 0300 200 3300.

Any under or over payment 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 up 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 = Police Pension scheme,
  • PAYE reference = 120/FA67568
What tax code are you using for my pension?
  • 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

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 of your pension until we receive this notification from HMRC.