Sending out Annual Benefit Statements (which we now call Personal Benefit Statements) takes approximately 2-3 weeks. They should arrive to you by 31 August each year. If you are concerned that your ABS hasn’t arrived, please contact us. If your colleagues have received their statements and you still haven’t received yours after one week, please contact us.
If you are a Devon County Pension Fund member you will not receive a paper copy unless you have specifically requested one but will instead receive an email confirming that your statement is available to view online.
If you are a Somerset County Pension Fund member and have registered with Member Self Service or you joined the Pension Scheme after 1 April 2015, you will not receive a paper copy unless you have specifically requested one but will instead receive an email confirming that your statement is available to view online.
The figure shown is the average pensionable pay you have received (plus pay award increase) within the preceding financial year NOT your current salary scale. It is up rated to a full-time equivalent figure (37 hours a week, 52 weeks a year), so this figure could be much higher than you are accustomed to if you are a part-time employee. If the figure is less than anticipated, it could be that some of your earnings (various bonuses, non-contractual overtime etc) are not pensionable under the 2008 LGPS regulations. Only pensionable pay is used in your pension calculations.
This could be due to a number of reasons, but the most common reasons can be found in the following parts of this FAQ:
Or you may have forgotten to transfer previous service, perhaps you took a refund of contributions for a small part of service, or you didn’t join the scheme from the start of an employment. If you cannot see where the discrepancy arises, please contact us.
The actual number of Added Years you have purchased (which were only available in the pre-2014 scheme) are not shown on the Annual Benefit Statement, but the calculations themselves DO take the added years into account. Both the pension figure and the lump sum figure should reflect the additional membership you have purchased.
Neither are the figures shown separately for any Additional Pension you may have purchased under the post-2014 CARE scheme.
AVCs are NOT included in the ABS. The payments for your AVCs go into a different plan to that of your Local Government pension, and are kept separate from the benefit forecasts. You should receive a separate statement from your AVC provider informing you of the current value of your contributions. The timing of this will depend on the provider.