Thursday, April 10, 2025
When will my first monthly payment be made?
We aim to pay your first monthly payment at the end of the month in which you retire. However this will be dependent upon whether we have received all the information required, from both yourself and your employer, to enable us to process your benefits. Additionally the timing of the payroll close-down date will also be a factor and this is usually mid month. If we are not able to meet this first payment deadline, then we will aim to pay your pension including the arrears in the following month.
When will my lump sum payment be made?
We aim to pay any lump sum you are due directly to your bank / building society of choice, as soon after your retirement date as we can. This, of course, is dependent upon receiving all the required information as mentioned above.
You can find out more by visiting some of our other pages regarding the options available to you when you are Taking Your Pension , or Taking your deferred pension, and we even have a handy Retirement Planning Guide, which you may find useful.
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