Pension Payments
Pension Payments
Your pension is paid on the 15th of each month. If the 15th falls on a weekend or on a bank holiday, it will be paid on the previous working day.
Pay Dates
| Month | Pay Date |
| April 2024 | Monday 15th |
| May 2024 | Wednesday 15th |
| June 2024 | Friday 14th |
| July 2024 | Monday 15th |
| August 2024 | Thursday 15th |
| September 2024 | Friday 13th |
| October 2024 | Tuesday 15th |
| November 2024 | Friday 15th |
| December 2024 | Friday 13th |
| January 2025 | Wednesday 15th |
| February 2025 | Friday 14th |
| March 2025 | Friday 14th |
Protecting Your Pension
The Fund will never call members to ask for their bank details. If we have any questions about bank details we would email or write to you. Similarly we do not accept bank detail changes over the phone. You can find out more about pension scams and keeping your pension safe on our scams page.
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Changing Bank Details
If you want to change the account your pension goes into, you must either:
- update your bank details securely online via My Pension+, or
- write to the Fund providing us with your National Insurance number and new bank details, or
- complete a Bank Mandate form.
We cannot accept change to bank details over the phone for security purposes.
Be aware that payroll closes approximately 1 week before your pension is due to be paid (normally 15th of the month). As such, if your bank details are given later than this your pension will be paid into your old account, rather than the new one. Pension payments will then be paid into your new account from the following month.
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Payslips
The Fund does not issue monthly payslips. Payslips are only issued:
- In April to confirm any pensions increase
- If there is a change in the net worth of your pension by £0.50 or more
- If your tax code changes and this affects your pension net worth
If you wish to check your payslips you can do so online with My Pension+ - our secure online service which gives you instant access to information on your pension.
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First Pension Payment
Once we have received all your retirement paperwork we will process your pension for payment. Pensions are paid on the 15th of each month, with payroll closing around 1 week before. So your first payment will depend on when we receive your paperwork.
If you are getting a lump sum, this will be paid around 10 working days after we receive your paperwork.
Latest Updates
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Every year, the number of people become victims of pension scams is increasing, with millions lost to scammers annually, some even losing life-savings.
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Talk Money Week runs from 4th – 8th November 2024 and is an annual initiative designed to encourage us to tackle the taboo and talk about money.
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Pension Credit can help top up your income in retirement. Learn more and find out if you qualify.
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The Fund's achievements have been recognised at several industry awards, with nominations in multiple categories.
