When you receive your pension

When you receive your teacher’s pension

• Each month your pension will be paid into your nominated bank account. Your monthly pension payment will be made on the day before your birth date. So, for example, if you were born on the 7th of the month, your pension will be paid on the 6th of each month.
• Each year, we’ll send you a P60, outlining the amount of pension you’ve received and the tax you've paid in that tax year. If you need to complete a Self Assessment Tax Return, you don't need a P60 from us as you can refer to your month 12 payslip.
• The good news is your pension is index-linked to protect it from increases in the cost of living. The increases are paid in April, on the same date as increases in state social security benefits. They’re based on figures provided by HM Treasury.
• Pensions Increase also applies to pensions paid by the Teachers’ Pension Scheme to widows, widowers, pension credit members, nominated partners, civil partners, children and dependants.

When you receive your state pension

When you start claiming your state pension, the Government may pay some of the increase on your teacher’s pension with your state pension. This is because you may have an entitlement to a Guaranteed Minimum Pension (GMP) in the state scheme.

The GMP consists of two elements:

• For service up to 5 April 1988, the Government will pay all Pension Increases (PI) with your state pension. This part does not attract increases from the Teachers’ Pension Scheme.
• For service on or after 6 April 1988 up to 5 April 1997, PI (up to 3%) is paid by the Teachers’ Pension Scheme. The balance will be paid by the Government with your state pension.

When we receive confirmation of your GMP from HMRC, we’ll adjust your pension.

If you’re not entitled to a GMP, you’ll receive the full increase from the Teachers' Pension Scheme. If you look at the information provided with your P60 you’ll see a breakdown of how the different elements of your pension have been increased.

If you’ve any further questions about state benefits or GMP, please contact the Department for Work and Pensions (DWP) on 0845 300 0168.