Retirement

Receiving your pension

Receiving your pension

When you start to receive your pension, it will be paid monthly on 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.

You’ll be able to see your pension payslips by logging in to Benpal.

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
Retirement anniversary increases – Cater Allen Sections
1 September – rest of Group

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.

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.