Pension payment and increases

How are pensions paid?

Your pension will be paid for life and will start on the first day of the month coincident with or following the day you retire. Partners’ or dependants’ pensions start on the first day of the month after your death.

Pensions will normally be paid by monthly instalments on the first day of each month to a bank or building society account after PAYE tax has been taken off.

Do pensions increase in payment?

Your pension and any Partner’s or dependants’ pension will increase on 1st April in each year.

Your total pension will increase in line with the increase in the Consumer Prices Index over the year to 30th September in the previous calendar year.

Partner’s or dependant’s pensions will increase in a similar way.

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