Changes to your annual benefit statement

Each year, we send you a statement telling you about the value of your pension savings and how much has been paid in. You might notice that the next one you receive is shorter, because all providers of workplace pensions – like us – are now required to make them simpler and more consistent with each other. This should make it easier you to see how much you have saved and understand what it means for your future.

Your next statement will show you:

  • what you’ve saved in to your pension over the past year;
  • how the current value of your pension savings has changed since you were first enrolled in the scheme; and
  • (if you’re actively paying into your pension and are more than two years away from your target retirement age) a projection of how much you could have saved in your pension by the time you reach your target retirement age and what kind of monthly income this might provide you.

Your statement also includes some tips on saving more money for later life, as and when you can afford to.

Please don’t forget that, unless you’ve asked us to send your annual benefit statement in the post, we’ll provide it digitally, within your secure online Retirement Savings Account. To see it, just log in and click into the ‘My scheme documents and information’ section. Scroll to the bottom of this section and click into ‘My Documents’ to see ‘Annual Benefit Statements’.

We’ll always email you to let you know when your latest statement is available, so please make sure that you tell us if your email address changes by updating it in your Retirement Savings Account.