Help for Pensioners

Help for pensioners with queries about their own pension, or the Scheme generally, can be obtained by either writing to: The Wiggins Teape Pension Scheme, c/o First Actuarial LLP, Network House, Basing View, Basingstoke, Hampshire RG21 4HG; by email to: wtps.helpline@firstactuarial.co.uk; or by telephoning 01256 297800.

However, before contacting Pensions Department, look to see whether your query can be answered by accessing the answers to questions pensioners frequently ask (see below).

For assistance with issues which affect older people and details of national pension matters, please click on Useful Links in the contents section on the side of this page to access a list of organisations which may help.

THE WIGGINS TEAPE PENSION SCHEME (WTPS)

QUESTION AND ANSWERS FOR PAYROLL RELATED ISSUES (Q & A)

Introduction

The purpose of this Q&A is to try and answer the questions a pensioner may have once their pension has been brought into payment.

If there are any other questions please contact the Pensions Department so that your query can be answered. The Q&A will be reviewed regularly and updated as appropriate. Contact details of the Pensions Department are provided at the end of the Q&A.

Q1 Why does my first pension payment get taxed at basic rate?

A1 This is the normal procedure when a pension first comes into payment and we are required to do this by the tax rules. However, the Pensions Department will notify Her Majesty’s Revenue and Customs (HMRC) of your personal details, including the date your pension started and the amount of your pension. HMRC will contact you and after obtaining details of your income from other sources, they will issue a tax coding. The new tax code will be applied to your pension as soon as it is received. Generally, any overpayment of tax will be refunded via the next available payment of pension.

Q2 Why do I not receive a payslip each month?

A2 Due to the large number of pensioners on the payroll (currently over 5500), we only issue payslips if the net pension differs by more than £1 from the previous month’s pension. We do however issue payslips to all pensioners in April of each year, as the first month of the new tax year. This payslip provides details of your new pension (including any increases).

Q3 Why would my net pension differ from the previous month?

A3 The most likely reason is a change to your tax code. If a new tax code has been applied, a message will appear on the payslip to indicate this has happened. You should also be notified directly by HMRC that you have been issued with a new tax code. If you want further information as to why your tax code has changed please contact the tax office on 0845 3000627, quoting your National Insurance number.

Other reasons why your pension may differ include the annual pension increase paid in April and when you reach State Retirement Age, when any temporary pension you maybe entitled to is stopped.

Q4 Do I receive notification of how much pension I receive in each tax year?

A4 Yes, a P60 is issued by the WTPS each year that details the pension paid and tax deducted for that particular tax year. A P60 is like a pension payslip but covers the whole tax year and not just one month. It is generally sent out in April of each year. A copy is also sent to HMRC.

Q5 I am completing my tax return but have lost my P60, what do I need to do?

A5 You will need to contact the Pensions Department who will be happy to supply the information you require, either verbally (provided you can confirm your identity to our satisfaction) or in writing. We cannot however issue another P60, as this is not permitted by HMRC.

Q6 If part of my pension is a temporary pension, what happens when I reach State Retirement Age?

A6 Temporary pensions are currently payable to age 65 for a male and 60 for a female. The Payroll Officer will write to pensioners who are in receipt of a temporary pension about two months before the temporary pension is due to cease. The letter sets out how much the pension will reduce by and how much pension will therefore remain in payment. The date the temporary pension ceases will also be confirmed.

You should however become entitled to a State Pension from your State Retirement Age. The Department of Work and Pensions (DWP) should automatically contact you before you reach your SRA, providing you with details of your State Pension entitlement. If you have not been contacted by the DWP a month or so before you reach SRA, then you should contact the DWP direct. Contact details can be found on their website at www.dwp.gov.uk or by telephoning 0845 300 0168.

Q7 How do I tell you about changes to my bank account or home address?

A7 You will need to provide the details of your new bank account or new address to the Pensions Department, either in writing or via e-mail. We cannot accept details of changes over the telephone as we need a record of your instructions. Alternatively, you can ask the Pensions Department to send you a form that allows you to provide the necessary details.

If you are changing bank accounts, you will need to give the Pensions Department at least two weeks notice before the next pension payment date, in order to ensure your details are updated and your pension is paid into your new account.

Q8 How are pension increases calculated?

A8 Pension increases are paid from the 1st of April each year. The increase is calculated in line with the increase in the retail prices index (RPI) for the year to the preceding 31 January, up to a maximum of 5%. The RPI is calculated by the Government.

Q9 What happens if the RPI is greater than 5%?

A9 If the increase in the RPI is greater the 5%, for example 6%, your pension will receive an increase of 5%. If the increase in the RPI is 4% then the full 4% increase will be paid. Increases are awarded on a year-by-year basis and not on a cumulative basis. As a result, increases that have been underpaid in one year are not made up in subsequent years. For example, in the above example, the increases would be 5% and 4%. (When RPI was 4%).

Q10 Are increases in WTPS pensions calculated in the same way as increases to State benefits?

A10 No, the increases applied to the basic State pension (BSP) and other State benefits are different to the increases applied to the WTPS. Details of how State benefits are increased can be found on the DWP website (see Useful Links).

Q11 Why are life certificates issued?

A11 The auditors of WTPS require us to obtain life certificates from pensioners to help prevent us paying pensions to persons who are no longer alive. This helps protect the Scheme‘s funding position by not paying pensions that may not be due.

Q12 Will I get a life certificate each year?

A12 It depends, if your pension is paid into a joint bank account, an overseas account or paid by cheque or giro you will receive a life certificate each year. If your pension is paid into an account that is in your own name only, you may only receive a certificate about every six or seven years.

Q13 What happens if I do not complete and return a life certificate?

A13 Your pension will be suspended, generally from 1 September of that year.

Q14 How does the process work?

A14 Around 2000 certificates are issued to existing pensioners in February of each year and you are asked to complete and return the certificate as soon as possible. However, you will be sent a reminder if the certificate has not been returned (correctly completed) before the end of May. If there has been no response by the end of August the pension is suspended from 1 September. Therefore pensioners have over five months to complete and return the life certificate before the pension is suspended.

If a pension is suspended, it can be brought back into payment and arrears paid once a fully completed life certificate is received.

Q15 What happens to my pension when I die?

A15 Your pension will to be paid up to the end of the month in which you die, after which it will cease.

Q16 What happens if you are not notified in time to stop the pension?

A16 If the pension is paid into a bank account in your name then the bank may reject the payment and the monies are returned to the Scheme. If the pension is not returned and so an overpayment has been made, then the Scheme will request repayment from the spouse/estate.

Q17 What does my spouse/next of kin need to do when I die?

A17 Your death should be reported to the Pensions Department as soon as possible, either by telephone, letter or e-mail. We will however also require sight of a certified copy of the death certificate once this is available. The certificate will be returned to the sender. Details of any surviving spouse/eligible children will also need to be provided so we can establish any entitlement to a pension and then write to your spouse/dependants setting out details of any pension that is payable.

Q18 Will my spouse receive a pension?

A18 Generally yes. If you are legally married, your spouse will be entitled to a pension from the date of your death. The spouse’s pension is payable for the remainder of their life. Details of the pension will be provided to your spouse as soon as possible after the date of death.

Q19 What happens if I am separated from my wife/husband?

A19 If you are still legally married then a spouse’s pension is payable.

Q20 What happens if I am not married to my partner?

A20 It may be possible for a pension to be paid to your partner. If it can be verified that your partner was dependent on you for the ‘necessaries’ of life the trustees can award a dependants pension.

Q21 What happens if I die within 5 years of retirement?

A21 A spouses/dependants pension will be payable in the normal way. However, in addition, if you die before you have received your pension for a period of 5 years, a one-off death grant is payable. The death grant is the amount of pension you would have received for the balance of the 5 years, based on the amount of your pension at the date of death. The recipient will be determined by the trustees who will refer to any nominations you have made on your latest Expression of Wish form.

Q22 What if my circumstances have changed and I wish to nominate new or different beneficiaries?

A22 You should complete a new Expression of Wish form. Expression of Wish forms can be obtained from the Pensions Department. As there is no death grant payable after retirement, the only payment relates to the 5-year guarantee. Therefore, if you have already received your pension for more than 5 years there is no need to complete a new Expression of Wish form.

Q23 Are pensions paid to my children?

A23 Yes, child allowances are payable in certain circumstances. A child allowance is paid to any child under the age of 18 at the date of your death or under age 23 if they remain in full-time education. Details of any surviving children will need to be provided at the time you pass away. Child allowances are paid in addition to any spouse’s or dependants pension.

Q24 Can I have my pension paid to more than one bank account?

A24 Yes, if you want to have your pension paid into more than one bank account, you will need to provide the Pensions Department with details of a second bank account (or building society account). The account must be in your name or if it is a joint account you must be one of the account holders. You will also need to confirm how much of your pension you like paid into the second account so that the necessary arrangements can be made.

Q25 Does my pension have to be paid into a bank account?

A25 Yes, all new pensions brought into payment must be paid into a bank or building society account. The bank account must be in your name or if it is a joint account one of the names must be yours. A few existing pensions are paid by cheque or giro, but these are for historical reasons and are not relevant for new pensions brought into payment.

Q26 Does my pension have to be paid monthly?

A26 Yes, all new pensions will be paid monthly, unless the amount is very small which makes it inappropriate to pay as frequently as once a month. Some existing pensions are paid quarterly or annually due to the size of the pension but we try to avoid paying new pensioners in this way.

The Pension Department contact details:

The Wiggins Teape Pension Scheme c/o First Actuarial LLP, Network House, Basing View, Basingstoke, Hampshire RG21 4HG

Pensions e-mail helpline: wtps.helpline@firstactuarial.co.uk

Telephone: 01256 728960 – General enquiries

01256 297748 – Payroll enquiries (ask for Suzanne Geddis)

Helpful websites/telephone numbers:

Her Majesty’s Revenue and Customs (HMRC) – Telephone: 0845 300 0627

http://www.hmrc.gov.uk

Department of Work and Pensions (DWP) – Telephone: 0845 300 0168

http://www.dwp.gov.uk