When is my pension paid?
The first payment is made at the end of the month after the month you retire. So if you retire on 11 August, your first payment will be on 30 September and will include pension for the period 11 August to 30 September.
From then on your pension will be paid at the end of every month into your chosen bank or building society account.
Monthly pension payments UK timetable
Under Scheme rules, regular monthly pension payments must be made by the last day of the month. To allow for payments to reach your account by the last day of the month British Airways Pensions instruct all banks (including overseas banks) to deposit our pension payments in pensioner’s accounts on the last but one working day of the month. When planning your regular outgoings (e.g. if you set up any standing orders or direct debits to be paid from your account) we suggest choosing a date early in the following month, when you can be sure that your pension payments will have arrived.
The scheduled payment dates for 2023/24 are as follows:
The dates shown here are the payment dates for your pension. The last day to make any changes to your pension payments (e.g. to change your postal address or tell us about a new bank account) is around the middle of the month (i.e. if you confirm a change of bank details by 12th May, we will usually pay your pension to your new account from the end of May).
Monthly payments overseas timetable
Our pension payments are paid to overseas banks sufficiently early in the month to allow overseas banks enough time to process the payments and pay our pensioners on time, at the end of each month. In the past, some overseas banks have unintentionally credited pensioners’ accounts as soon as they have received the pension payment from us but you should not rely on your pension being credited to your overseas bank earlier than the due date, which is the last but one working day of the month.