When will I get paid?
Pension payments paid by BACS should be credited to your bank or building society account on:
- Cambridgeshire Pension Fund - monthly around the last working day of month - see below.
- Northamptonshire Pension Fund – monthly around the 25th - see below.
|Feb-20||25th Feb||28th Feb|
|Mar-20||25th Mar||31st Mar|
|Apr-20||24th Apr||30th Apr|
|May-20||22nd May||29th May|
|Jun-20||25th Jun||30th Jun|
|Jul-20||24th Jul||31st Jul|
|Aug-20||25th Aug||28th Aug|
|Sep-20||25th Sep||30th Sep|
|Oct-20||23rd Oct||30th Oct|
|Nov-20||25th Nov||30th Nov|
|Dec-20||18th Dec||31st Dec|
|Jan-21||25th Jan||29th Jan|
|Feb-21||25th Feb||26th Feb|
|Mar-21||25th Mar||31st Mar|
We do not currently send payslips to our pensioners on a monthly basis, these are only sent out at key times of the year or following a change to your circumstances.
Payslips will be sent to your home address, in the following circumstances:
- Your first pay advice
- In March (year end information on payslip)
- In April (for Pension Increase (PI) month)
- In May (for your first complete month after PI has been applied)
- Any change in your tax code
- Any month where your net pay is changed by £5.00 or more
It is vital that you keep us informed of any changes to your address. If pay advices are returned to us, we may have to suspend your pension as a fraud protection measure.
A form is available for this purpose, along with a form to update your bank details, on our Newsletters, forms and factsheets page.
Will my pension increase?
Each year, the pension that you receive from us is usually increased in line with the cost of living. This is based on the Consumer Price Index as assessed over the previous year, to 30 September. The next increase to your pension is due to take place on 6 April 2020, at which point a 1.7% increase will be applied to your pension and pro-rated if you have not been receiving your pension for the full year.
Tax and your pension?
Your pension payments are taxable as earned income in the same way that your earnings were before retirement. This means, subject to your personal tax allowance, if your income is high enough, you will still have to pay tax when you retire.
The tax you pay depends on your age and marital status as well as the total amount of income that you receive. The following items could be included in what makes up your assessable income, for tax purposes:
- The pension you receive from us
- Any other pension that you receive, including State Pension
- Unemployment benefit
- Earnings from other jobs/self employment
- Interest on some savings and investments
If you receive a lump sum Retirement Grant as part of your benefits this is paid TAX FREE.
If you have any tax queries, please contact the tax office, on the details below, quoting the relevant reference number:
Pay As You Earn and Self Assessment, HM Revenue and Customs, BX9 1AS. Tel: 0300 200 3300
- Members of Cambridgeshire Pension Fund: CCC Pensioners 475/ZB50342 or 475/MB50343 and your National Insurance number
- Members of Northamptonshire Pension Fund: NCC Pensioners 475/KB50344 or 475/VB50347 and your National Insurance number
Your State Pension
The LGSS Pensions Service is not responsible for the administration of State Pensions. State Pensions are administered by The Pensions Service, a part of the Department for Work and Pensions. Also Gov.uk website (previously DirectGov) has a section headed State Pension.
Contact details to query your State Pension are as follows:
- State Pension first claims - 0800 731 7898
- National helpline- 08456 060 265