Business Services Organisation
Your annual benefit statement is issued before 31st August each year and will provide you with a snapshot of your pension benefits up to 31st March that year.
This year, members who are already receiving some of their pension benefits will not receive an updated Annual Benefit Statement.
We are looking at ways we can make these available to partially retired members in the future.
Your statements are available to view from 31st August each year on your Engage portal.
| The Annual Benefit Statement (ABS) methodology was updated this year to use a member’s basic pensionable salary rather than their actual pensionable earnings. This provides a more consistent and accurate basis for calculations, particularly for members who work part-time or whose contractual hours change throughout the year
The ABS is intended to provide a snap shot of your benefits i.e. an estimate, based on the membership and pay information held on your record at the 31st March each year. It is not intended to represent a final calculation of retirement benefits. While the salary figure shown on your ABS may differ from your current pensionable earnings your pension accrual/calculation at retirement will be based on pensionable pay provided by the Payroll Pension Team as part of your retirement application. The Team complete a full audit of pensionable earnings and will include pensionable enhancements e.g. night duty, on call allowance. |