Your pension may be paid in one of three ways:
- Monthly payment, where your benefits are paid to you on the last working day of the month
- Quarterly payment, where your benefits are paid to you on the last working day of March, June, September and December
- Weekly payment, where your benefits are paid every Thursday. (Please note you can no longer opt to receive weekly payments).
P60s are provided each year and pension payslips are generally provided only if your net pension (after tax and any other deductions) changes by £1 or more. You should keep your last pension payslip until the next one arrives in case you have a query.
Your pension is taxed as income through PAYE, based on the tax code provided to us by HMRC. If you think you are paying the wrong amount of tax, you will need to contact HMRC. You can find out how to do this at www.gov.uk/government/organisations/hm-revenue-customs/contact/income-tax-enquiries-for-individuals-pensioners-and-employees.