Receiving your pension

At Just, we help people achieve a better later life by providing financial security in retirement.

When you’re a member of Just, your defined benefit pension scheme becomes an annuity policy. This is a special type of insurance policy which provides a safe home for your money. It shields your pension benefits from risks like inflation and investment volatility.

We’re privileged to be part of your future, looking after your pension and making your payments. In your welcome pack from us you’ll have your policy document and all the need-to-know essentials about how we support you. You can also check or download this information via OneView, our secure online member portal.

How we support members

The following information is for members who are already begun receiving their pension payments from us.

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Paying your pension

We pay you a pension income for life. These are guaranteed monthly payments made into your bank account. We aim to pay you on or around the same date you were previously being paid. The payment date is noted in your policy document.

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Increases in pension payments

Your pension plan details are listed in a section of your policy document called the benefit schedule. This explains if and how your pension money might grow over time. Usually, the amount you get from your pension rises in line with the Retail Price Index (RPI) or the Consumer Price Index (CPI). However, this can vary for different people.

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Payslip and P60

Every year, we’ll send you a pension payslip. If your pension payments change by more than £5 a month (after we have deducted any income tax), we’ll send another payslip to explain the change. We'll also send you a P60 detailing how much pension income we have paid you and how much income tax you have paid, usually by the end of May.

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Tax

Pension income payments are taxed by HM Revenue & Customs (HMRC), under the Pay As You Earn (PAYE) system. It’s similar to how your wages were taxed while you were employed. If you are a taxpayer, we are required by HMRC to deduct taxes you owe, before paying you a pension income.

Beyond the payments

Life after work is a new chapter and many people live a long and happy retirement. But we don’t know what’s around the corner. Besides paying your pension, sharing P60s and payslips, there may be other times you need us. When you have a change in circumstances, we’re here for you.

Members

Find out how we can support you into and through your retirement

Go to Members homepage

Bereavement

Notifying us of a death and future pension benefits after a member dies

Go to bereavement

Change in circumstance

What to do and when to contact us if your circumstances change

Go to change in circumstance