Payment Date for Lump sum?

[NorthernBoy]

I am planning to take my pension this year and was wondering what date my lump sum will be paid.

I know the actual monthly pension is paid on the last working day of the month.

If my birthday is on the 19th, will I get the lump sum paid on this day or will I have to wait longer for it.

This is for a section c pension, nra60 and 65.

Thanks

[neal]

I’ve done this, my birthday on the 12th
Rmpp had letter confirming it will be paid on 12th & 29th
Capita,,,,, no confirmation letter yet but rang them got my figure's
Asked when im going to be paid and was told should be on my birthday 12th or a few days later
They also told me I should get the confirmation letter around 2 weeks before my birthday which is due now but as capita are useless I’m not holding my breath

[freespeech]

Linked to this can you specify a date you want your pension rather than your actual birthday? My birthday is in the first few days of April but I want the pension to start from 6th April so it is the new tax year as I will pay less tax.

[mw7485]

Linked to this can you specify a date you want your pension rather than your actual birthday? My birthday is in the first few days of April but I want the pension to start from 6th April so it is the new tax year as I will pay less tax.

Why? the commencement lump sum should be free of tax. The only bit that "could/should" be considered taxable is the regular income bit - which is generally paid towards the end of the month.

[renrag40]

I’ve done this, my birthday on the 12th
Rmpp had letter confirming it will be paid on 12th & 29th
Capita,,,,, no confirmation letter yet but rang them got my figure's
Asked when im going to be paid and was told should be on my birthday 12th or a few days later
They also told me I should get the confirmation letter around 2 weeks before my birthday which is due now but as capita are useless I’m not holding my breath

I received my confirmation letter from Capita on my birthday. Both were paid at the same time as my birthday is the last day of the month.

[RobertT]

Linked to this can you specify a date you want your pension rather than your actual birthday? My birthday is in the first few days of April but I want the pension to start from 6th April so it is the new tax year as I will pay less tax.

Why? the commencement lump sum should be free of tax. The only bit that "could/should" be considered taxable is the regular income bit - which is generally paid towards the end of the month.

The pension is usually paid on the last working day of the month, but he's presumably expecting to have an excess amount of DBCBS and/or AVC's over and above the 25% tax free limit. In which case that will be paid as a UFPLS and 75% of that will count as income and potentially taxable.

Going by other posts on here concerning UFPLS payments, they're paid around 16 weeks after the main lump sum.

[ebbzie]

I am planning to take my pension this year and was wondering what date my lump sum will be paid.

I know the actual monthly pension is paid on the last working day of the month.

If my birthday is on the 19th, will I get the lump sum paid on this day or will I have to wait longer for it.

This is for a section c pension, nra60 and 65.

Thanks

I received the lump sum the day after my 60th HTH

[neal]

55 Today
Woke up feeling excited 🫣about checking my bank account
Rmpp All present and correct

Rmsps …………‍ Nothing