Making direct credit payments abroad usually takes a little longer to process than payments to a UK bank account. Your pension may arrive in your bank account a few days after your usual UK payment date because of this.
Overseas payment mandates FAQs
Why has my pension not arrived on my usual payment date?
Can I be paid in GBP to my overseas account if my account permits it?
Payments can only be made in the local currency associated with the banking mandate. We can pay your pension in GBP to any standard UK bank account.
My country of residence is not on the list of mandates. Does this mean my pension can’t be paid to my overseas bank account?
There are a small number of countries that our paying agent cannot pay as part of our standard payment process.
Please contact us if you are unable to see your country on the list.
What exchange rate is used when paying my pension to my overseas bank account?
The exchange rate is calculated using business exchange rates which vary throughout the day depending on global markets. As payments are processed in high volumes, this means that a better exchange rate is used than if individual payments were processed.
Why does my P60 /Advice of Payment not have my bank details on?
We pay your pension direct to our overseas paying authority account. They then forward your payments to your overseas bank account. As such, the details on your P60/ Advice of Payment are those of the overseas paying authority account.