Tax and your pension

The income you receive from a pension is taxable. The tax due on your Scheme pension is deducted automatically by the Scheme administrator, Barnett Waddingham, using the tax code that is supplied by His Majesty’s Revenue and Customs (HMRC). 

If there is a change to your tax code, this could change the amount of tax you need to pay. 

We are aware that following the Scheme transfer from the National Grid UK Pension Scheme, HMRC has notified Barnett Waddingham of a revised tax code to use for some Scheme pensioners. Your tax affairs are your own and Barnett Waddingham is unable to respond to any queries you may have about the tax that is deducted from your Scheme pension or tax code changes. 

If you think the tax you’re paying on your Scheme pension is incorrect or that there’s an error with your tax code, you should contact HMRC direct. You can do this by calling 0300 200 3300

(+44 135 53 9022 from overseas) and quoting Scheme reference: 120/XE84420.