Active
Deferred
Retired
CouncillorsWhen you retire
Your first payment:
- If we have all the information we need and you return your Deferred Benefit Claim Form before the date your benefits are due to be paid, and you are due a tax free lump sum we will aim to process payment of your lump sum within 3 working days after your payment date. The payment may then take a few days to clear through your bank/building society account. But if you return the form after the date your benefits are due to be paid we will aim to process the payment of your lump sum within 3 working days of the form coming back.
- Your pension will start from the first available pay date after the date your benefits are due for payment, or if later, after we receive your claim form. The usual pay date is 16th of each month (the payroll deadline dates are usually around the 1st of each month). Any arrears of pension due will be included with your first monthly payment.
- If you have AVCs and have chosen to use these to buy WYPF benefits, there may be a delay in starting your monthly pension whilst we await the payment of your funds.
Once you have retired
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