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Pensioner Frequently Asked Questions

Why did my pension increase in April?

This leaflet will help you find answers to questions you may have once you start receiving your pension.

Why can’t I just call up the helpline to change my bank account/address details?

The Trustee takes the security of your personal information very seriously. Given the rise of identity fraud, it is prudent to continue with the current practice of requiring members to request changes to their details in writing with their signature.

What happens if pay day falls on a bank holiday or a weekend?

Pensions are paid on the same day of every month, with the exception of bank holidays and weekends, where you will be paid on the previous working day.

Why has my tax code changed on the P60 you sent me?

HM Revenue & Customs (HMRC) is responsible for allocating tax codes, so any queries about changes to your tax code should be directed to the tax office.

Can I have a new copy of my P60?

You can access your P60 information at any time by logging into electronic Pensions Administration (ePA). Please note, ICI Pensions Services cannot issue members with new P60s, although all the details can be found on ePA.

My pension went up twice in the same year; why was this?

This is likely to be because you are either a male and over age 65, or a female and over age 60, and your pension includes an element of GMP. The GMP element is increased at a different time to the rest of your pension each year, so if you have an element of GMP in your Fund pension, you may have two pension increases from the Fund each year.

Increases to your Guaranteed Minimum Pension.

When I receive a pension increase, does the pension that would be payable to my spouse increase too?

Yes. The pension that would be payable to your spouse (or civil partner), after your death, would be increased by the same percentage.

Can I be sure that the Fund will look after my partner if I die first?

If you are married or in a civil partnership at the time of your death, your spouse or civil partner will usually be entitled to a pension based on your pension entitlement.

Any pension payable to your spouse or civil partner may be reduced at the discretion of the Trustee if:

  • your spouse or civil partner is more than 15 years younger than you; or
  • you are a pensioner and you married or entered into a civil partnership, while receiving your pension, to a spouse or civil partner who is more than 10 years younger than you.

If you would like to know more, contact ICI Pensions Services.

If you are not married or in a civil partnership but have a partner, they may still be able to obtain a nominated dependant’s pension. However, this is not payable automatically. Your partner will have to apply for this benefit and show that they meet all the relevant criteria. In broad terms, this means that they will have to show that they were financially dependent on you at the time of your death and also that they cannot meet their future living expenses without assistance from the Fund. Other eligibility rules also apply, so this means there is no guarantee that they would receive a pension. Where a nominated dependant’s pension is awarded, they may not receive the same level of pension as a spouse or civil partner.

Usually, we will pay a nominated dependant’s pension to the person listed on the Nominated Dependant’s pension – Nomination form completed by the member, if they meet the criteria. However, the Trustee has the power to pay this pension to anyone it considers appropriate and who meets all the relevant criteria.

Decisions regarding nominated dependants’ pensions are made based on your partner’s eligibility at the time of your death, so we cannot say in advance whether they would qualify.

Note: Benefits payable upon your death can vary and there may be other circumstances where the benefits that your spouse/dependant/ beneficiary receives are different to those described above.

What is ePA (electronic Pension Administration)?

The ePA system was introduced to allow members to view their pension details online. It is not intended to replace any form of postal communication. The ePA system will allow you to check that your personal details are correct. It is also able to provide:

  • pay and tax details for pensioner members;
  • a summary of transfers in and the current value of pension benefits for deferred members; and
  • pensionable pay history for contributing members, who can also request a retirement benefit estimate online using ePA.