Pension payment dates.

Your pension is paid monthly in advance. The payment dates for 2022 and 2023 are shown below.

2022

September

31 August 2022

October

30 September 2022

November

31 October 2022

December

30 November 2022


2023

January

30 December 2022

February

31 January 2023

March

28 February 2023

April

31 March 2023

May

28 April 2023

June

31 May 2023

July

30 June 2023

August

31 July 2023

September

31 August 2023

October

29 September 2023

November

31 October 2023

December

30 November 2023

Updating your bank account details.

You can update your UK bank details online by logging in to your pension account on the M&S Pension Scheme Portal. If you’ve not used the Portal before and need help, go to Manage my pension online

If you’re updating an overseas bank account or you’d rather provide your UK bank details in writing contact the Pensions Administration Team.

If you change your bank account, we need the new details before the 10th of the month for the change to take effect in time for the next payment.

Tax on your pension.

Your pension is taxable income, so you may have to pay tax on it depending on your personal allowance and other income you may be receiving. If you’re living overseas, you may still have to pay UK tax on your pension. You can find more information on the GOV.UK website.

You can contact the Scheme's tax office if you have any queries about the tax paid on your pension.

Write to:

HM Inspector of Taxes
Chapel Wharf Area
Trinity Bridge House
2 Dearmans Place
Salford
M3 5BF

Tel: 0300 200 3300

The reference you should use when referring to the Scheme is 951/BMP.

Payslips and P60s.

You’ll get monthly pension payslips and a P60 at the end of the tax year confirming the pension you have received and the tax you have paid.

Payslips and P60s are all provided on the Portal unless you’ve opted for paper communications. If you’ve not used the Portal before and need help, go to Manage my pension online.

Paper payslips are only sent out if your pension changes by £10.00 or more and you’ve requested to receive paper communications.

You can contact the Pensions Payroll Team if you have any queries about your payslips.

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