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
|March 2014||Monday 31st|
|April 2014||Wednesday 30th|
|May 2014||Friday 30th|
|June 2014||Monday 30th|
|July 2014||Thursday 31st|
|August 2014||Friday 29th|
|September 2014||Tuesday 30th|
|October 2014||Friday 31st|
|November 2014||Friday 28th|
|December 2014||Wednesday 31st|
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.