How am I paid?

You are paid by us monthly in arrears on the last working day of each month. The simplest and most cost effective way for us to pay you is via the Banker's Automated Clearing System (BACS) direct to your bank or Post Office Giro account. This method is not subject to postal delays.

We need to know:

• the name and address of your bank;

• the branch sorting code; and

• your personal account number

Or, we can arrange payment to your building society, in which case we shall need:

• its name and address;

• your account number there;

• the sorting code of the bank holding the building society's account; and

• the society's account number at the branch

We shall send you a pension statement each month by second class post. The statement will set out the calculation of your payment, including details of income tax and any other deductions. It should reach you by pay day but, even if it does not, the money will be credited to your bank account by then. Payments to a building society may take a few days to reach your account, but it is usual for the society to start calculating interest from pay day.

If at any time you change your account, please tell us as soon as you can. We prefer a month's notice whenever possible. 

If you wish, we shall pay you monthly by cheque by first class post, but this method of payment is, of course, subject to the delays of the postal system, and the cheque will need to be cleared by your bank before the money is available to you.

Use this link for information on payments to overseas bank accounts.