Pension increases
Depending on the rules of your pension scheme, pensions in payment receive annual increases. You will normally receive a letter from your pension scheme in April, advising you of any increases that will be applied to your pension.
Pension payslips
A pension payslip will usually only be issued once a year, in April, after any annual increase has been applied to your pension. Thereafter, you will only receive a payslip if your monthly pension payment changes by £1 or more.
Paying tax
The Scheme administrator deducts tax from your Scheme pension, under Pay As You Earn. When the Scheme begins to pay your benefits, they will be taxed using the standard emergency tax code. This code will be updated when HMRC provides a new code to use to tax your benefits.
If you have a query about the tax you pay on your pension, you need to contact HMRC directly:
HMRC
Joseph Locke House
Heelis Street
Barnsley S70 1XG
Tel: 0300 200 3300
PAYE Reference No: 673/B42
Personal details
Please make sure you keep us up to date with any changes to your address, personal details and bank details, so that there is no delay in paying your pension.
Retired members can call the Pensions Department and update their address details by phone, subject to satisfying a number of security questions. You can also download a change of address form to tell us your new details.
However, for security reasons any changes to personal details and bank information must be notified to us in writing, and the request must be signed. If you need to update your bank details, please download a bank details request form and return it to Boots Pensions.
Please quote your pension number or your National Insurance number and date of birth on all correspondence with the Pensions Department so we can locate your records.
Update your nomination of beneficiary form
If you are a pensioner who has been receiving a scheme pension for less than five years, please remember to update your nomination of beneficiary form when your personal circumstances change (for example, if you get married, divorced or have a child).
This form lets the Trustees know who you want to receive any lump sum benefits that are payable from the pension scheme on your death. The Trustees are not legally obliged to follow your instructions, but they would usually take them into account unless there was a very good reason not to.