Islington Council pensions are paid on the 6th of each month. If the 6th falls on a week-end or Bank Holiday the pension will be paid on the first working day before. An advice statement will be sent if the net pay differs by more than £2 from the previous month.
- The pension is paid directly into a bank or building society account by BACS (Bank Automated Clearing System).
- In partnership with the Equiniti Group we do offer the facility to pay pensions into an overseas bank account, for our pensioners living abroad at a small cost.
Payment advices for pensions are only issued in March and April, plus in May if an index linked increase occurs. Persons in receipt of an LGPS Pension will be notified each April of any inflation proofed increase being applied, together with the payment dates for the next 12 months.
Pension recipients will be sent a P60 statement of earnings by the end of May each year, relating to payments made for the year to 5th April.
Increases to pension
Pensions are increased in line with the cost of living (Consumer Price Index) each April if a pensioner is over the age of 55. Retirements due to permanent ill health attract pension increases from any age.
The first increase to a pension after retirement (from active membership) will depend on how many months a pension has been in payment during the year.
The increases will be paid to you on the first Monday after the 5th April of each year.
- Download the Change of Address Form
- Download the Change of Bank Account Form
- Download the Expression of Wish (Nomination) Form
More information about the Local Government Pension Scheme is available on the LGPS members website. This includes a wide rang of information about what benefits are available if you are a member and when they become payable.