Tax and your pension
How tax is applied to your LGPS pension
The LGPS pension payable to you each month is treated as income and therefore tax is due on any amount over your personal tax allowance, as determined by HM Revenue & Customs (HMRC), in the same way that it would be for any non-pension income (e.g. from employment or self employment, etc).
The tax we apply to your pension is based on the monthly instructions we receive from HMRC advising us of the relevant tax code. If you wish to query the tax code that has been applied to your pension, please contact HMRC:
Address:
HM Revenue & Customs
PAYE & Self Assessment
PO Box 1970
Liverpool
L75 1WX
Telephone:
0300 200 3300
Your PAYE reference number is located on your payslip.
When you contact HMRC you will need to quote your National Insurance number along with the Fund's PAYE reference number. You may also need to quote reference: 214/G1P.
We are only able to apply the tax code that is given to us by HMRC.
Emergency tax
Please be aware that you will initially be set up with the tax code 1257L / M1, until we have received details of your personal tax situation from HMRC. This is the most common tax code used for most people with only one income.
When your pension is brought into payment, this will be reported to HMRC who will then inform our Payroll team if the tax code needs to be amended, and if any arrears are due. These changes will not be implemented until the next available payroll.
If you need additional assistance
Although questions regarding tax codes should be directed to HMRC, our Pension Payroll team may be able to help with some tax-related queries.
You can get in touch by email on bscpensionspayroll@gloucestershire.gov.uk, or by phone on 01452 324163.