Death of a PB BEFORE April 2008 December 2013 | Page 10

5

Cost of Living Increases

To protect pensions against inflation, they are increased each year. The
increases:
 apply from the first Monday after the 5th April each year
 are fixed by the Government
 are normally the same percentage as those applied to State Pensions.
If, however, you are receiving a State Pension based on your spouse’s National
Insurance contributions, the DWP may be responsible for increasing part of it,
known as your Guaranteed Minimum Pension.
Details of each increase are published by printed message on your April payslip
or by a separate notification.

6

Income Tax

All pension payments are classed as taxable income and will be taxed under the
PAYE system using an emergency code until a correct code is received from the
Tax Office. No refunds of tax or other adjustments can be made until the Tax
Office confirms your code.
Any queries regarding tax codes or matters relating to Income Tax in general
should be addressed directly to the Tax Office as, unfortunately, SYPA will be
unable to help.
The Tax Office which will deal with your pension is:
HMRC,
South Yorkshire Area,
Concept House,
5 Young Street,
Sheffield, S1