Tax

Your tax code and the tax you pay on your pension can change.

HM Revenue & Customs (HMRC) provides us with tax codes electronically. We must apply the tax code we’re provided with and we can’t change it.

Getting in touch with HMRC

    • Your National Insurance number
    • LPF’s PAYE reference - 961 2406394 
    • The Pension Scheme Tax Reference - 00816815RX

Reasons your tax code may change

In April and May
When you start receiving your State Pension

In April and May

Your gross pension increased in April in line with the Consumer Price Index.  This also means that the amount of tax deducted has also increased.  

When you start receiving your State Pension

One reason your tax code change may change is when you start receiving your State Pension. The State Pension uses any tax-free Personal Allowance you have first and this may previously have been used for your Fund pension. This can mean you have less tax-free allowance being applied to your Fund pension and so pay more tax on it. 

State Pension
My Pension Online