North Yorkshire Pension Fund
What to expect when you retire
If you require this information in an alternative
language or another format such as large type, audio
cassette or Braille, please contact the Pensions Help
& Information Line on 01609 536335
•You tell your line manager that you want to retire (at least 6 to 8 weeks before you want to go), you will usually be
You intend to asked to put this in writing. You must be age 55 or over at the date you want to retire
retire
ADNOT
form
Pensions
send your
options
•Your line manager will tell your Human Resources (HR) team that you intend to retire. This is an important step in starting
the retirement process
•HR will complete an Advanced Notification form (ADNOT) and will send this to your payroll provider (at least 4 to 6 weeks
before you retire
•Payroll will calculate your estimated final pay information, update the ADNOT form and send it to the Pensions Section (at
least 4 weeks before you retire)
•Pensions work out your pension benefits (using the figures provided on the ADNOT form) and will send your
retirement options (with an options form) to your home address or to your online pension record. If you have paid
AVCs the figures will include your AVC fund. Ask the Pensions Section how to receive your information on your online
pension record (tel 01609 536335)
•Paying AVCs? Prudential will receive your final AVC contributions and finalise your fund, this can take up to a
fortnight. To avoid delays in paying your pension benefits, you may want to consider stopping payment of your AVCs
Paying AVCs? a month early and not paying your final month of AVCs. The Prudential can be contacted on 0800 032 6674
You return
options form
•You complete and return your options form to the Pensions Section who will acknowledge receipt of your form. It is
important to note the timescales below as it is not possible to pay your pension benefits on the day that you retire
•Your payroll provider will send your final pay information to the Pensions Section once the payroll has been finalised.
The Pensions Section would not expect to receive your final pay information until at least the 10th of the month
Important
following your leaving date. E.g. if you retire between 1 and 31 January, the Pensions Section would expect to receive
timescales to your final pay information on or after 10 February
note
Paying your
your lump
sum
•Your lump sum (if applicable) willl be paid into your bank account within 10 working days of receipt of all the
relevant paperwork. This can be up to 4 weeks from the date that you retire. The Pensions Section will write to
you shortly before your lump sum payment is paid into your bank account to confirm the date that payment will
be made
•Pension payments are made by BACS on the last working day of the month and are processed by the Employment
Support Service at North Yorkshire County Council. Due to the normal payroll process, your first pension payment
may be made two months after you have retired but payments will be backdated to your retirement date.
Paying your •Basic rate tax may be deducted from your pension payments until the correct tax code is received from HMRC. Any
overpaid tax will be corrected once the new code has been received.
monthly
•You
can access your pensioner payroll record online - email [email protected] to
pension
register quoting name, DOB and/or payroll reference and contact telephone number, stating in the email please set
up access for 'MyView' for pensioners