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P60 & April payslip

Look out for your P60 and payslip - it's an important document, so please don't lose it. The top half of the document is your payslip for April, and shows details of your pension from us before deductions, and the amount of tax we have taken.

The bottom half of the document is your P60 - your summary of tax and pension for the year up to 5 April 2019. You may need to present this, for example if you make a claim for Tax Credits, so please make sure you keep it!

Frequently Asked Questions

What is my increase for this year?

Pensions increase for 2019 is 2.4%. Your new annual pension for 2019/20 will be shown in the messages box on your P60. Unfortunately, we are not able to confirm any figures over the phone.

Why have I not received the full 2.4% increase on my monthly pension?

Pensions increase is payable from the first Monday after the 5th April. This year, that's the 8th April. Therefore, part of your April pension is at the old rate and part at the new rate. So this year, 7 days will be paid at the old rate and 23 days at the new rate. In May and thereafter you will get the increase for the whole month. You will receive a payslip in May quoting this new monthly rate.

How do I change my bank details?

You need to tell us about a change to your bank account details in writing. Please include your pension number, new account details and ensure you sign the letter, as we need this as authorisation. There is a change of bank form on our website or we can send you a form by post or email.

Example payslip

An example of a P60 payslip
Your gross pension: This is your pension this month before we take anything off for tax. See page 3 of Grapevine issue 24 for more about tax in general.
Tax code: HMRC decides your tax code - it tells us how much tax to take. If you think your tax code is wrong please contact HMRC.
Lifetime allowance: This is a limit on the total amount any of us can build up in pensions without penalty - this is at £1,030,000 for the 2018/19 tax year. This box shows what percentage of this is used up by your GMPF pension.
Filling in a tax return? You will need to quote the figures shown in this section...

If someone asks for your P60, you can tear it off, keeping the payslip part for yourself.

Pensions Grapevine Issue 24 For more information on your P60, see the Spring 2019 edition of Grapevine.

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