In this section we will provide information on the payment of your pension and look at your payslip
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.
For 2019/2020, the pension pay dates are as follows:
|Month||Year||Pension pay dates||Will I receive
|January||2019||31 January 2019||No|
|February||2019||28 February 2019||No|
|March||2019||29th March 2019||Yes|
|April||2019||30 April 2019||Yes|
|May||2019||31 May 2019||Yes|
|June||2019||28 June 2019||No|
|July||2019||31 July 2019||No|
|August||2019||30 August 2019||No|
|September||2019||30 September 2019||No|
|October||2019||31 October 2019||No|
|November||2019||29 November 2019||No|
|December||2019||31 December 2019||No|
|January||2020||31 January 2020||No|
|February||2020||28 February 2020||No|
|March||2020||31 March 2020||Yes|
Payslips are divided into five main sections:
Section A: General information
Any messages will be entered here.
Personnel Numbers are 8 digits long and the number will be different from your old payroll number.
This is the current tax month; financial years start each April and end in March.
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.
This is the tax month your pay has been taxed up to. See above re Pay Period, for example 01 is April.
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’.
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 £
01 Basic Pension
01 Basic Pension Pl
Section C: Deductions
DEDUCTIONS Amount £
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).