- You can receive FAS payments no matter how much income you receive from other sources not related to your pension scheme
- If you receive payments from the FAS, it may affect any social security benefits you receive.
- FAS payments will be taxed before they are paid to you.
- In most cases, we will make your FAS Annual Payments for life because they relate to your pension.
We will usually make FAS payments direct into your bank or building society account on the same day each month.
As with an occupational pension, tax will be taken from your FAS payment before it is paid to you.
The FAS is not a state benefit. Also, the assistance you receive from the FAS is not ‘means-tested’ (based on your financial circumstances). This means that you can receive payments from the FAS no matter how much income you receive from sources other than your scheme pension.
However, payments from the FAS could affect other state benefits that you may already receive, such as Jobseeker’s Allowance, Employment and Support Allowance, Pension Credit, Council Tax Benefit and Housing Benefit. If you are receiving FAS payments, you should tell the office that pays your state benefits.