Any pension which has been in payment for less than a year will be
increased by a proportionate amount depending upon the number of
months it has been in payment. The percentage increase for those
members who retired in the last 12 months are as follows:
Retirement Date
% Increase
Retirement Date % Increase
22nd Feb 2014 to
21st March 2014
0.23%
22nd Aug 2013 to
21st Sept 2013
1.58%
22nd Jan 2014 to
21st Feb 2014
0.45%
22nd July 2013 to
21st Aug 2013
1.80%
22nd Dec 2013 to
21st Jan 2014
0.68%
22nd June 2013 to
21st July 2013
2.03%
22nd Nov 2013 to
21st Dec 2013
0.90%
22nd May 2013 to
21st June 2013
2.25%
22 Oct 2013 to
21st Nov 2013
1.13%
22 April 2013 to
21st May 2013
2.48%
22nd Sept 2013 to
21st Oct 2013
1.35%
22nd March 2013 to
21st April 2013
2.70%
nd
nd
I have been receiving my pension for over 12 months but I
have not received the full increase.
If you paid into the Scheme before 6th April 1997 and have now reached
State Pension Age, you probably have what is called a GMP - a
guaranteed minimum pension. This is not a separate pension, but the
minimum amount your pension from us has to at least equal. GMP’s also
attract pensions increase but some or all of this pensions increase is
paid with your State pension, so don’t worry you won’t lose out.
April’s payment
April’s payment does not include the full increase. This is because the
increase has not been applied until 7th April, so you will have the first 6
days at your old rate. The payment you receive in May will be all at your
new rate.
Please remember to tell us if you
want your pension paying into a
different bank account, as your bank
or building society doesn’t let us
know!
You can choose from the following
options:
PAYSLIP
& P60
Self-service The convenient and
most secure way for you to notify
us of a change of bank account is
to do it yourself through mypension,
our scheme member self-service
facility at www.sypensions.org.uk/
mypension
Telephone If you have registered
for our pensions password service
and know the answers to the
security questions you have set,
we can change your bank account
via a phone call. Simply call 01226
772923 during office hours and you
will be transferred to a member of
our staff who will make the change
to your payroll records.
END OF YEAR
CERTIFICATE
In the next few weeks you will be receiving a very
important document through the post - your P60 and
your Payslip. You won’t have a P60 if you retired after
24th March and you won’t have a payslip if you receive
quarterly, bi-annual or annual payslips.
Your Payslip &
P60 Explained
HMRC decides your tax code - it
tells us how much tax to deduct.
If you think your tax code is wrong
please contact the HMRC.
18 Regent Street, Barnsley S70
2HG. In addition to your new bank
account details (name of bank, sort
code and account number) please
include your National Insurance
number so that we can identify you.
Pensions paid monthly will be paid on the following dates:
31st October ...............2014
30th April......................2014
30th May ......................2014
28th November ...........2014
Other Methods You can email
30th June .....................2014
31st December ...........2014
31st July .......................2014
30th January ...............2015
29th August ................2014
27th February .............2015
30th September ..........2014
31st March .................. 2015
Pensions paid quarterly will be paid on the following dates:
31st December ...........2014
30th June .....................2014
30 September ..........2014
th
31 March .................. 2015
st
Pensions paid bi-annually will be paid on the following dates:
31st March .................. 2015
30th September ..........2014
Pensions paid annually will be paid on 31st March 2015:
Should you lose your P60 we can provide you with a
duplicate but there will be a charge of £5 per financial
year requested. A duplicate P60 will only be issued
once you have agreed in writing to have the cost
deducted from your next pension payment.
This is the total capital value of all
your pension arrangements which
you can build up without paying
extra