BPAS retired members

As you are now receiving your BPAS pension, you may still have several questions concerning your pension payments. Below are some frequently asked questions that you may find useful.

Frequently asked questions for retired BPAS pension members

How is my pension paid?

  • Your pension is paid in arrears and on the penultimate working day of each month, except for those months that have a bank holiday that falls on that date and which affects payment. Payment dates for each tax year are confirmed in the Pension Increase letters that are issued.
  • Payments are paid directly into your bank account by BACs transfer.
  • Pension payments are subjected to tax, as it is treated as regular income. Your tax code is advised by HMR&C each year. Should you need to contact HMRC to discuss your tax position, please see the contact details section. 
  • You do not pay National Insurance on your pension payments.
  • Your pension is paid for the rest of your lifetime.

Pension increases

  • Your pension is reviewed annually and index-linked to increases in official pensions as paid to public sector employees. This increase applies to pensions for surviving spouses, dependants and eligible children.
  • The annual increase, reflects the change in both the Retail Prices Index and Consumer Price Index over the 12 months up to the previous September, as prescribed by the government.
  • The increases take place each April.
  • The BPAS scheme rules identify which element will be increased in line with the Retail Price Index and which element will be increased in line with the Consumer Price Index.
  • Should there be any periods of negative inflation, we will not reduce the value of your pension, but likewise, it will not be increased in that year.
  • A Pension Increase letter will be issued to you each April to confirm any increases you might receive.

Payslips and P60's

Payslips are not issued each month, but instead at certain times of the year. You will receive a payslip when your pension first commences, and then at the following times in the year:

  • March – A payslip for March will be issued to you which in effect details your pension and tax payments for that scheme year.
  • April – The April payslip will show the part month’s pension increase that will be applied.
  • May -  The May payslip, should show the correct tax code that will be applied to your pension and the actual monthly pension due for that current tax year.

We do appreciate that you may for other reasons, require a copy of your current payslip. Please contact our the Isio Team to request a copy.

Your P60 is usually issued in May each year by our payroll team. Should you require further information concerning your P60, please contact the Isio Team.

I want to change my bank details

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Keeping your details up to date

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What happens when I die?

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