Please click on the link below for information about annual pension increases to pensions in payment.
28th May 2025
The questions & answers (Q&As) below are intended for our policyholders who are receiving their Rothesay pensions.
If you have a question that is not answered by the Q&As provided, please contact us.
Questions & answers
If your total income (including your pensions from all sources, any wages and interest on your savings) goes above the personal allowance, you will be taxed.
For more information click on the link below to watch our video 'Why do I pay tax on my pension?'.
As your income rises, even slightly, you may find yourself above the personal allowance. This can happen when your pensions or other income, including State benefits, increase, but your personal allowance does not.
For more information click the link below to watch our video 'Why do I pay tax on my pension?'.
We have to use the latest tax code that we have received from HM Revenue & Customs (HMRC) when paying your pension. If you think there is something wrong with your tax code, please contact HMRC – they are the only ones who can correct it.
For more information you can call HM Revenue & Customs (HMRC) on 0300 200 3300 (UK) or +44 135 535 9022 (Overseas) or view their website.
For more information you can call HM Revenue & Customs (HMRC) on 0300 200 3300 (UK) or +44 135 535 9022 (Overseas) or view their website.
You can also call Tax Help on 0333 207 5652 or complete the form on their website.
If you are already receiving regular pension payments, you do not have the right to take an additional lump sum from your benefits.