How is my pension paid?

Your pension is paid on the first day of each month into your personal bank account by the Plan. It is paid for the remainder of your life.

Capita manage our pensioner payroll and will be happy to answer any questions you may have about your pension payments. You can contact them at:

The Pearson Pension Plan
Hartshead House
2 Cutlers Gate
Sheffield
S4 7TL
E-mail: pensionerpayroll@pearson.com
Pensions Helpline (Freephone): 0800 781 1378 (phone lines are open Monday-Friday 9am-5pm, excluding bank holidays)

If you need to update your bank details, please contact Capita so that they can continue to pay your pension, alternatively, download this bank details form and return it to them.  

Tax on pensions

Income tax is deducted from your pension in the same way as it was deducted from your salary – under Pay As You Earn (PAYE). The Plan has no control over your tax code so if you have any questions you will need to contact HMRC.
Your tax office address is:

HMRC
Chantry House
3 Lincoln Lane
Boston
Links
PE21 8TZ

Telephone: 01205 313 490
Tax Ref. 475/RB53627

Your tax affairs are confidential and any queries you may have on the tax coding applied to your pension from the Plan should be discussed with the tax office above.

Please note the pension tax reference of 475/RB53627 should be quoted at all times.

How does my pension increase in payment?

The increases made to your pension depend on which section of the Plan you are a member of.

Please go to My DB section to find out more information.

Payslips

You receive a payslip from the Plan showing your monthly pension and the tax payable on it if there is a change in your net pension of £1 from month to month.

Once a year you will also receive a P60 showing the total tax you have paid in the tax year (6 April -5 April each year).

State Pension

On top of your pension from the Plan, you could also qualify for the State Pension.

To check your current entitlement, visit www.gov.uk/check-state-pension. For more information about the State Pension and how it works, watch this State Pension animation.



Discounts

Aviva discounts

Aviva is offering members of the Plan additional discounts to its online premiums for car, home and travel insurance.

To find out more go to www.aviva.co.uk/affinities/pearson

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