Your pension will be paid monthly into your bank account. The amount of pension you receive will increase each year.
Receiving your pension
When you start to receive your pension, it will be paid on the 19th of each month, unless you are a member of the A&L Section (formerly the Alliance & Leicester Pension Scheme), where pensions are paid on 1st of each month. If your pension payment date falls on a weekend or public holiday, it will instead be paid on the preceding working day.
You’ll be able to see your pension payslips by logging in to the member portal and going to See> Pension Payslips.
Watch a short video on how to view your Pension in Payment on the member portal
Pension increases
Your pension increases each year, the date the increase is applied is different for each section as set out below.
Scheme |
Pension increase date |
|---|---|
A&L Section |
1 April |
Amalgamated Section |
1 September |
Associated Section |
1 September |
Group Section |
1 April – HMC Section |
N&P Section |
1 April |
SMA Section |
1 January |
SPI Section |
1 January |
Different increases apply to the different parts of your pension. Please check your member guide for more details about the increases that apply to different parts of your pension.
Your State Pension
As well as your Scheme pension, you will be entitled to a State Pension.
The amount of State Pension you receive depends on your National Insurance record (your National Insurance contributions and how much National Insurance credits you’ve received).
You can check how much State Pension you are likely to receive on the government website where you can also check your National Insurance record.
You can claim your State Pension from your State Pension age. In recent years State Pension age has been increasing, so you will need to check what yours will be. You can use the government website to check your State Pension age.