Your pension from Greater Manchester Pension Fund (GMPF) is a monthly income that is guaranteed and inflation proofed for the rest of your life.
You can access all your personal pension information and keep your details up to date on your My Pension account.
2020 pension payment dates
|MID (paid in middle of month)||ARREARS (paid at end of month)||PEN (paid at the beginning of each month)|
Any pension going into payment will be paid on the last working day of the month.
If you have more than one record with GMPF, for example if you have had two periods of membership, you will receive two payments from us in the same month.
If your pension went into payment before 2012 your payment days could vary.
By registering or logging into your My Pension account you can:
- See your monthly (and historic) payslips and annual P60s
- View your tax code
- Amend your personal details including your address
- Change your bank details (alternatively you can write to us)
It is also possible to elect for paper communications to be sent through the post.
By registering or logging into your My Pension account you can update your bank details.
Alternatively download, print and complete the pension in payment form (P300). This will provide us with details of the account you want your pension paying into. The account must be in your name (or in the case of a joint account, you must be one of the account holders). Please also sign and date the form.
Please make sure we get the details of your new account around two weeks before your normal pay date. That way we can make sure the updates are carried out in time.
Your pension, just like your salary from work, is classed as a taxable income. Her Majesty’s Revenue & Customs (HMRC) sets the amount most people can earn each year before paying tax. This is called the personal allowance. The personal allowance can change each financial year.
If your total income is higher than the standard personal allowance then the excess amount is taxable. Other taxable income can include:
- State Pension and other pensions
- unemployment benefit
- wages from other jobs
- interest on some savings
If you haven’t reached your State Pension age (SPA) by 5 April in the financial year that you are retiring, we will apply the same tax code to your pension that was applied to your income whilst you were working.
If you have reached your SPA by 5 April in the financial year that you are retiring we will apply the basic rate tax code to your pension whilst HMRC assess what your actual tax code should be. By applying this tax code to your pension it means that you may overpay tax on your pension initially. This will be amended when HMRC have assessed what your income is and how much tax you should be paying.
When you leave your employer you will be given a P45 form, this will be sent to us. When we make your first pension payment an electronic copy of the P45 form is sent to HMRC to help determine what your tax code should be.
Mrs Smith retired from her employment on 2 July 2019 and her pension from GMPF is £6,000 a year. Mrs Smith has reached her SPA and is receiving her State Pension, which amounts to £8,767.20 a year. The total amount that she receives is £14,767.20. The standard personal allowance currently set by HMRC is £12,500, therefore £2,267.20 of Mrs Smith’s pension from GMPF is taxable.
|Pension from GMPF||£6,000|
|Personal allowance for 2019/20||£12,500|
|Remaining income to be taxed||£2,267.20|
There are no National Insurance (NI) contributions to pay on the money you receive from a pension scheme. This includes your pension from GMPF and your State Pension. If you are still working whilst receiving your pension and under your SPA, then you may still pay NI contributions on this income.
We currently pay pensions internationally. We pay members pensions directly through Western Union. We send your monthly pension to Western Union on the traditional payment date each month. Western Union convert the payment into your local currency before forwarding the payment onto your bank. There is no charge for this service and it takes approximately three banking days.
To have your pension paid overseas you will need to complete a bank mandate for your country and send it to us.
What are the tax implications of having my pension paid abroad?
Different countries have their own tax rules and laws. When you have income from one country and are resident in another, you may have to pay tax in both countries under their different tax laws. To help avoid being taxed twice the United Kingdom has negotiated double taxation (DT) agreements with more than 100 countries.
If you are a resident of a double taxation country you may be able to apply for relief from UK tax. You will need to contact the HM Revenue and Customs (HMRC) residency team by visiting the HMRC website.
What is a life certificate?
If you are living abroad we will send you a certificate to complete each year. This certificate will require you to fill in some personal details to enable us to check our records are correct. If you do not complete this form your pension may be affected and your pension payments may cease. This form needs to be returned to us to ensure this does not happen.
Before 6 April 2016, the State Pension was made up of two parts, the basic State Pension and the additional State Pension. How much additional State Pension you received depended on your National Insurance contributions. The additional State Pension part was known as the State Earnings Related Pension Scheme (SERPS) from 1978 followed by the Second State Pension (S2P) from 2002.
If you were an active member of GMPF, contributing to the scheme, between 6 April 1978 and 5 April 2016 you were automatically contracted out of the additional State Pension. This means that during this period you wouldn’t build up much, if any, additional State Pension. You have been building up pension benefits in the Local Government Pension Scheme instead.
The rules have changed over the years, but for the period from 6 April 1978 to 5 April 1997 the amount of additional State Pension you would have earned had you not been contracted out is called your Guaranteed Minimum Pension (GMP). This GMP forms part of your GMPF pension and is not in addition to your State Pension or your GMPF pension when payable.
From 6 April 2016 the Government introduced a new single tier State Pension; this replaces the basic and additional State Pension and ends the contracting out of the additional State Pension. The single tier State Pension will be payable to you if you reach State Pension age on or after 6 April 2016. You can find more information about your State Pension age and the new State Pension on the Government's website.