ESB Retired Staff > Pension Information

Payment of your Pension

Deductions from your Pension
Change of Address or Bank Account
Pensioner’s Declaration Form
Payslip

The ESB Pensions Office administers your Scheme benefits including the payment of your pension. You will receive a pay slip and your pension is paid directly into your bank or building society account or in a minority of cases by cheque. There are many advantages to having your pension paid directly into your bank or building society. We encourage pensioners receiving their pension by cheque to consider changing to this method to avoid delays which can result from cheque payments. You will be advised by way of a note on your payslip when a pension increase has been applied.

Deductions from your Pension

We will arrange payments from your pension on your behalf to certain organisations if you instruct us to do so. Many pensioners find this a useful facility when making payments for the following:

Medical Provident Fund

Car + Home Staff Insurance Schemes

ESB Pensioner Associations

St. Patrick’s Credit Union

At retirement we request your instruction on the various deductions/payments. If you wish to start, change or stop a voluntary deduction/payment from your pension please contact the organisation concerned directly i.e. the company or organisation to which the payment is made on your behalf. They will advise the Pensions Office of your change and forward your formal instruction. You will appreciate that, apart from making the payments in line with your instruction, we cannot accept any further responsibility in the matter.

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Change of Address or Bank Account In order to ensure effective communications and to pay your pension efficiently, we need to have an accurate record of your address and bank or building society account. If you change address please notify us in writing. If you change your bank or building society you need to complete a new mandate. Download a mandate form by clicking here (pdf 40Kb). By advising of any changes as early as possible it avoids delays in receiving your payslip or your pension.

Pensioner’s Declaration Form

All ESB Pensioners in receipt of a pension from ESB Pension Scheme are required to sign the Annual Pensioner Declaration. It is an important control, required by our Auditors to guard against the possibility of fraud and to safeguard the Fund’s resources. When you receive the Declaration please complete it and have it witnessed by one of the persons listed. If on receipt you have any queries regarding the Declaration please contact us and we will assist you.

Payslip

Your payslip includes the details of your total pension, i.e. your total pension before any deductions are made and the itemised deductions. This includes mandatory payments such as tax and voluntary payments such as insurance premiums. The sample pension payslip (pdf 28Kb) includes an explanation of the various headings. If you require any further clarification of your payslip please contact us.

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