Pensions IWC

Pensioner Members

This section is for people receiving a pension from the Isle of Wight Council Pension Fund, including those receiving dependents benefits.

As a retired scheme member within the Local Government Pension Scheme (LGPS) you are in receipt of a guaranteed secure pension which is payable for life, with certain possible exceptions.

If you are in receipt of a monthly pension and have a change of address, bank account or other details, please click here (PDF, 30.68KB, 1 page) to download a Change of Personal Details form.

If you have any tax queries, please contact the HM Revenue & Customs (HMRC) on 0300 200 3300.

We have prepared a newsletter (PDF, 175.06KB, 3 pages) that contains important information for pensioner members.

Payment Information

We will send you a payslip when you first retire from employment.  However, after that we will only send you a payslip if your payment changes by more than £5.  This will normally mean you will receive a payslip once or twice a year, usually in March and April.

Payment Dates

Your pension will be paid into your bank/building society account on the last banking day of each month:    

  • 30 January 2017
  • 28 February 2017
  • 31 March 2017
  • 28 April 2017
  • 31 May 2017
  • 30 June 2017
  • 31 July 2017
  • 31 August 2017
  • 29 September 2017
  • 31 October 2017
  • 30 November 2017
  • 22 December 2017

The Pensions Office notifies HMRC that you are starting to receive a pension.  HMRC will use this information to give you a new tax code and make sure you pay the correct amount of tax on your pension payment.

Moving Abroad

If you decide to move abroad, your pension can still be paid monthly into a bank account anywhere in the world.

All overseas transactions are processed through the TOPS system and are dealt with by Western Union.  The money should be in your account between 1 and 3 working days after the date due.  There is a nominal charge by Western Union for this service.

Please note that Western Union bought out Travelex (the previous money transfer company used) so you may still see the Travelex name on forms and administration.

You can obtain further information by clicking on the following link Forms & Leaflets.