​​How to read your payslip 

Your payslip helps you understand your pension payment and how the amount you receive is calculated.

Your details

At the top of your payslip, you’ll see your personal details, including:

  • your name and address
  • your pension reference number
  • the date of your payment.

If you need to contact us, having these details to hand will help us deal with your query more quickly.

Your pension amount

Your payslip shows your gross pension, which is the full amount of pension due for the period shown, before any deductions are taken.

If this amount has changed and you’re not sure why, you can contact us and we’ll be happy to explain.

Tax and other deductions

If any amount is deducted from your pension, this will be shown on your payslip.

The most common deduction is income tax, if it applies to you. We cannot change your tax code. If you think your tax code is incorrect or believe you have paid too much or too little tax, you will need to contact HM Revenue & Customs (HMRC) directly. HMRC will inform us if any changes are required.

In some cases, other deductions may appear on your payslip. These could be for several reasons and will always be listed separately, so you can see exactly what has been deducted.

If you are unsure about a deduction, or don’t recognise it, please contact us and we’ll explain what the deduction relates to, even if we cannot change it.

    The amount you are paid

    Your net payment is the amount you receive after any deductions, such as tax. This is the amount paid into your bank account.

      When you will receive a payslip

      You will usually only receive a payslip if:

      • your gross pension has changed, or
      • the amount you receive after deductions has changed by more than £5 since your last payment.

      This helps avoid sending unnecessary paperwork when there has been little or no change.

      If you need help

      If you have a question about your payslip or something doesn’t look right, please contact us.

      When getting in touch you’ll need your National Insurance number and pension reference number at hand so we can help you as quickly as possible.