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I haven’t received an illustration
- Do we have details of your current address? If not, please contact us and we will update our records. If we do not have a current home address for you on our records, you illustration will have been sent to your employer who has been asked to forward it on to you.
- Your illustration could be held up in the post. Please contact us if you do not receive your illustration shortly.
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I have worked for longer than it shows on the statement
- Do you work part time? When we work out your pension benefits, we use a pay figure that is the full time pay for your job but membership that is reduced in proportion to your part time hours. See the examples given in the section ‘If you are part time’
- Have you had a break in your membership, for example due to maternity leave or strike breaks? If you did not pay contributions to cover these periods they will not count as membership.
- Have you always been in the Fund while working for your employer? You may have joined the Fund at a later stage. You can confirm this with your employer if you are unsure.
My pay is more / less than the amount shown
- The pay figure used to calculate your pension benefits does not include pay for non-contractual overtime, car allowances or extras not stated in your contract.
- If you have a protected pay certificate, this has not been used to calculate your benefits on the illustration. However, if you retire or leave and your certificate is still valid, it will be used to calculate your benefits.
- If you are part-time and the hours stated on your illustration are incorrect, the pay figure will have been incorrectly calculated. Please contact a member of the Pension Helpline Team or your employer who will ensure the record of your part-time hours is amended.
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The part-time hours shown are incorrect
- The hours shown are those you were working at 31/03/07 which may not be the same as the hours that you are currently working. If they are incorrect, please contact your employer who will ensure the record of your part-time hours is amended.
Why have I received a Personal Illustration this year but not in previous years?
- We are constantly trying to improve the process of issuing benefit illustrations, which means more people receive a statement each year.
Why have I received two (or more) Personal Illustrations when I only get one payslip?
- If you have more than one employment, we will usually record the details of each one on a separate pension record. This means you will receive one illustration for each of your employments. Your employer may have combined your employments for payroll purposes, which means you only receive one payslip.
I have had an Earmarking Order placed on my pension as a result of divorce proceedings. How does this affect my Personal Illustration?
- Your Benefit Illustration does not take into account any earmarking orders that may have been placed. As the Earmarking Order only comes into affect when you retire and begin to receive your pension benefits, it is possible that your circumstances may change. Therefore, the full benefits are always show
I have had a Pension Sharing Order placed on my pension as a result of divorce proceedings.
- Your illustration does not take into account the pension and lump sum debits that apply to you, as we are unable to predict what their value will be in the future. Therefore, the full benefits are shown. A letter giving details of the current value of your pension and lump sum debits should accompany your illustration.
Are my purchased added years included in the benefits shown?
- If you have paid or are paying contributions to buy some extra membership, part time buy back or pre 01/04/72 membership, the membership you have bought to 31/03/07 has been used to calculate the benefits shown.
- If you are buying added years that count towards your pension only, they have been included in the calculation of your pension but the membership is not included as part of the total membership figure shown.
Are my AVCs included in the benefits?
- No. You will receive a separate statement from the Prudential that gives details about your AVCs
I would like some information about topping up my benefits
- We produce a booklet called ‘Topping Up Your Benefits’, which tells you all about the options available to you.
Topping up your benefits
- If you would like to receive a paper copy of this booklet, please telephone, write or send an e-mail, making sure you give us your full address, or call into the Pensions Office and pick a copy up.
- Alternatively, you can speak to a member of our Pension Helpline Team who will be pleased to help.
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Is my transferred in service included in the benefits?
- If you have transferred in benefits from a previous scheme and this transfer has been fully completed, then the membership bought by the transfer will be included in the calculation of your benefits.
- However, if the process of transferring these benefits is currently ongoing, the membership will not have been included.
Can I retire before age 65?
- Yes. Under the current Scheme rules, you can choose to retire anytime from age 60 onwards. However, if you are retiring before your Normal retirement Date, your benefits may be reduced. This will depend on whether you have passed your ‘85 year date’.
What is my Normal Retirement Date?
- This is the date that you would normally retire. Normal retirement age in the scheme is 65 for both men and women and so your normal retirement date is usually the day before your 65th birthday.
- However, if you were already a member of the scheme on 1st April 1998, your normal retirement age is somewhere between age 60 and 65 depending on how long you have been a member of the scheme.
What is my ‘85 year date’ and how do I calculate it?
- Your ‘85 year date’ is the date when your age in whole years plus the membership you have accrued in the scheme total 85.
- If this date falls before your normal retirement date and on or after your 60th birthday, you can retire with unreduced benefits on this date.
- If your ’85 year date’ falls before your 60th birthday, your 60th birthday is the earliest time you can retire without your employer’s permission. You can retire on your ’85 year date’ with unreduced benefits but only if your employer gives permission for you to do so.
If you require any further explanation of any of the above or any further information about your illustration or your pension in general, please contact us.
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