My pay slip
When will I receive a pay slip?
When your pension starts, we will send you pay slips for the first three months. After that, a pay slip will be sent to you in March, April, May and June of each year.Understanding my pay slip
In order to help you to understand your pay slip, a sample pay slip together with a detailed description of each field can be found below.Part A
Pay No - This is YOUR individual pay number (7 digits), please quote this on ALL letters, pay claims and when contacting HR/PAY on the telephone, it helps us find you on the payroll system.Pay Point - This tells us your previous employer.
Normal Pay Per Annum/Hour - Your Annual Pension is shown here.
Pay Period - This is the current Tax week or Month being paid. Financial Years start each April and end in March, e.g. Pay Period “01” = April for Monthly paid employees.
Pay Date - This is the date you are officially paid. If paid into a bank, the money will have been sent to the bank for payment on this date.
Part B
Important messages are shown here.Part C
Pay Method - This will either be: BACS (paid into the bank), or CHEQ (paid by a cheque)Bank Sort Code - This is always 6 digits and will be quoted in your cheque book, always check this is the same, particularly if you have just changed banks.
Account Number - This is YOUR bank account number, it is 8 digits, ALWAYS check this is your account number, particularly if you have just changed banks
Tax Period- this relates to the week/month your pay has been taxed to.
Tax Code - This code enables Payroll to calculate how much you are allowed to earn before you pay tax. Unless you are on a “K” Code, the higher the number the more you are allowed to earn before you pay tax. If the code is BR or OT, it means you are not given any tax free allowance and you must pay tax on all your earnings. This is probably because you are given your tax allowance in another way.
If you believe your tax code is wrong, you can appeal, and you should to contact the Tax Office.
N.I. No.- This number makes sure that the National Insurance contributions you have paid are credited to you so that you can claim the full amount of any Social Security benefits and that you get your full state pension when you retire.
Part D
Payments - This shows hours, description and amount of the payment being made. If hours/amount are being deducted a (-) sign will show.Part E
Deductions - This shows the description and the amount of the deductions we have taken out of your pay. If the amount is being refunded a (-) minus sign will show.Part F
Totals to Date - These are the total payments and deductions relating to your pay in the current financial year. ( Financial Years start each April and end in March.)Taxable Pay - this is your total earnings less any earnings that are not taxable, e.g. pension deductions . If you have started on pension part way through the tax year and your P45 has been sent to payroll, the figures on it will be added to your Taxable Pay and Tax Paid.
Tax Paid - this shows your total tax paid so far this year.
N.I. Payable - this shows any earnings which could be liable for National Insurance, i.e. basic pay, overtime.
N.I Paid - this shows your total National Insurance Contributions paid so far this year.
Pensionable pay - this shows any pay you have paid pension contributions on, i.e. basic pay.
Pension paid - if in the pension scheme this shows the amount of pension contributions paid so far this year.
Gross Pay - this shows the total pay you have earned so far this year.
Net Pay - This is the amount you have actually been paid in the current pay period.