How and when is my pension paid?
Your pension is paid directly into your bank account, using the banks automated clearing system (BACS). Your pension will be paid on a monthly basis and is taxable.
It will be paid on the last working day of every month as follows
|2015-2016 Pension pay dates|
|30 April 2015||30 October 2015|
|29 May 2015||30 November 2015|
|30 June 2015||31 December 2015|
|31 July 2015||29 January 2016|
|31 August 2015||29 February 2016|
|30 September 2015||31 March 2016|
What if I live abroad and have an overseas bank account?
If you live abroad it may take a few extra days for your pension to clear into your overseas bank account, therefore it is likely that your pension will be received a few days after the dates specified above.
You will receive a P60 at the end of each tax year, which will show you the amount of pension you have received and the tax deducted.
For information on payslips please view when will I receive a payslip.
Our Jargon Buster may help with pensions terminology.