Scheme regulations require that where an initial or revised pension payment is not made within a specified time limit then an interest payment is due. The specified time limit is one month from the date the payment became due or when all information to calculate your pension benefits has been received, whichever is later. For the payment of a lump sum, payment is due on the day after retirement. For the payment of a pension, payment is due monthly in arrears.

If you are eligible for an interest payment, this will be automatically calculated after your award goes into payment and you will be notified in writing when we pay any interest due.