An interest payment is due when an initial or revised pension payment is not made within a specified time limit.
The specified time limit is one month from the later of:
- the date the payment became due
- when all information to calculate your pension benefits has been received.
A lump sum payment is due on the day after retirement.
A pension payment is due monthly in arrears.
If you're eligible for an interest payment, this will be automatically calculated after your award goes into payment. You'll be notified in writing when we pay any interest due.