The date on which your pension is paid to you will depend on when the Tayside Pension Fund were advised by your employer of your retirement.
Pensions are paid on either the 20th day of each month or on the last working day of each month.
When you retire, the Tayside Pension Fund will write to you to advise you of your normal payment date.
The normal payment dates for Tax Year 2018/19 are detailed below.
All pension payments are paid directly into your bank or building society account by BACS (Bankers Automated Clearing System).
Payment Timetable for Tax Year 2018/19
|PAYMENT DATE (NORMALLY 20TH OF EACH MONTH)||PAYMENT DATE (NORMALLY LAST WORKING DAY OF EACH MONTH)|
Please remember that payslips are not issued each month.
A payslip will be posted to you (at your home address) where there is a change in the net amount payable of £2 (this is generally when a new tax code has been implemented).
Payslips are also issued automatically at month 12 (March) as this is your P60 and this should be kept securely as you may need to refer to it at a later date.
A payslip will also be issued in April (month 1) as this payslip will show (where applicable) the amount due for that month in respect of Pension Increase - this will be a part month increase as the Pension Increase date is the first Monday on or after the 6th April annually.
A payslip will also be issued in May (month 2) as this payslip will show (where applicable) a full month of pension increase and may also reflect any budget or tax codes changes implemented.