1. Home
  2. UK Finance Discussions
  3. Re: Pension Benefit Statements

Re: Pension Benefit Statements

I am in a quango final benefits salary scheme. Is my employer under an

obligation to provide me with an annual pensions benefit statement?

> Freddie >

I have been in several final salary public sector schemes and have always had a statement. I dont know what you mean by a quango scheme, but I work for a voluntary organisation, which is an 'admitted body' to a local authority scheme.

I get a pension benefit statement every year, usually about June/July giving my position as of the beginning of April. This is sent direct to my home address from the pension administrators and does not come through my employers at all. One of the things to watch is that the scheme have an up-to-date address for you if you have been a member for a long time.

I don't know if they have an obligation to provide you with a statement, but they generally all do.

Neb

Reply to
Nebulous
Loading thread data ...

obligation to provide me with an annual pensions benefit statement?

He is supposed to but many schemes don't do this. E.g. teachers never ever get a statement unless they ask for it.

I have to say that the cost of sending out statements to all and sundry, most of whom have no interest in their own affairs and don't read such things and if they did, wouldn't understand them, would be extremely expensive, albeit a requirement.

Rob Graham

Reply to
Robin Graham

I can see the point in an annual statement for money-purchase schemes, but not for final-salary schemes. Surely all they can do is to restate the benefit rules?

Matti

-- puzzled

Reply to
Matti Lamprhey

"Matti Lamprhey" wrote

They can show the (revised) benefit figures :-

(a) with an extra year of service; and (b) with updated salary details.

Reply to
Tim

I disagree, I have been a teacher state schools for the last 15 years and every year I and my colleagues receive our annual statement. We don't need to ask or apply it comes to us automatically along with our P60s.

Reply to
robert

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.