In this section we will provide information on the payment of your pension and look at your payslip
When will I receive my payslip?
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.
Additional payslips may be issued if there is a substantial change to your pension.
Pay dates
For 2016/2017, the pension pay dates are as follows:
| Month | Year | Pension pay dates | Will I receive a payslip? |
|---|---|---|---|
| January | 2018 | 31 January 2018 | No |
| February | 2018 | 28 February 2018 | No |
| March | 2018 | 29th March 2018 | Yes |
| April | 2018 | 30 April 2018 | Yes |
| May | 2018 | 31 May 2018 | Yes |
| June | 2018 | 29 June 2018 | No |
| July | 2018 | 31 July 2018 | No |
| August | 2018 | 31 August 2018 | No |
| September | 2018 | 28 September 2018 | No |
| October | 2018 | 31 October 2018 | No |
| November | 2018 | 30 November 2018 | No |
| December | 2018 | 31 December 2018 | No |
| January | 2019 | 31 January 2019 | No |
| February | 2019 | 28 February 2019 | No |
| March | 2019 | 29 March 2019 | Yes |
Understanding my pay slip
Payslips are divided into five main sections:
Section A: General information
Message Box
Any messages will be entered here.
Personnel Number
Personnel Numbers are 8 digits long and the number will be different from your old payroll number.
Pay Period
This is the current tax month; financial years start each April and end in March.
Pay Date
This is the date your pay should reach your bank; note some building societies may take longer if they use a ‘roll’ number, along with a bank sort code and account, due to their processes.
Tax Period
This is the tax month your pay has been taxed up to. See above re Pay Period, for example 01 is April.
Tax Code
This code allows us to work out how much you are allowed to earn before you pay tax.
Initially when we set up your pension payment HMRC require us to put you on 0T tax code, which means that tax will be deducted at 20%.
If you believe your tax code is wrong, you can appeal and you should contact HM Revenues and Customs (HMRC), commonly known as the ‘Tax Office’.
N.I. No
Employers Tax Reference
This is the Authority’s tax reference for all pensioners, and you should quote it on all correspondence with HMRC (Tax Office).
Section B: Payments
|
PAYMENTS Amounts £ |
Comments |
|
|
01 Basic Pension |
1200.00 |
|
|
01 Basic Pension Pl |
205.21 |
|
Section C: Deductions
|
DEDUCTIONS Amount £ |
Comments |
|
|
Tax Paid |
32.60 |
Tax As with any refunds in deductions, tax refunds have a ‘-‘ minus sign in front of the amount. |
Section D: Contracts
This will be blank
Section E: Totals to Date and Net Pay
Totals to date (£)
These are the total payments and deductions relating to your pension in the current financial year (from April to date).
Net Pay £
This is the amount you have actually been paid, after deductions, in the current pay period (your take home pay).