Your annual benefit statement
On this page, you'll find everything you need to know about your annual benefit statement (ABS) - including how to access and understand your latest statement.
View your ABS Link opens in a new windowLog in or register for PensionPoint
Contents
How to access your annual benefit statement
Your latest statement should be available to view by 31 August each year.
Your latest annual benefit statement should be available to view in My documents > Scheme documents in your online PensionPoint account
If you can’t see your latest statement in PensionPoint, we may still need to process and upload your ABS. Please check again later.
Only your annual benefit statements dating back to 2020 are available to view in PensionPoint.
Annual benefit statement: breakdown
Select your scheme, then open the expandable boxes to view the key things you should check on your statement.
This year’s statement has been produced on the basis that you are not eligible for the age discrimination remedy (McCloud/Sargeant) due to your period of service. If you are eligible for Remedy, you will receive a separate Remediable Service Statement no later than 31 March 2025.
Your current benefits to date
Section 2 of your statement shows how much your pension is currently worth at 31 March. It shows the value of your pension as if you had left the scheme on 31 March.
Annual pension – the total amount of pension you would get each year.
Your estimated future benefits
Section 5 of your statement shows how much your pension could be worth at Normal Pension Age (NPA), if you carry on paying into the scheme and stay on the same hours and pay.
Total pension @ NPA – the total amount of pension you’re estimated to get each year.
Maximum lump sum – the maximum tax-free cash lump sum you’re estimated to get.
Your current benefits to date
Your statement shows how much your pension is worth if you were to take out your deferred benefits on the date shown. If you have more than one deferred pension with us, you will have separate statements.
Total annual pension – the total amount of pension you would get each year.
This year’s statement has been produced on the basis that you are not eligible for the age discrimination remedy (McCloud/Sargeant) due to your period of service. If you are eligible for Remedy, you will receive a separate Remediable Service Statement no later than 31 March 2025.
Your current benefits to date
Section 2 of your statement shows how much your pension is worth at 31 March. It shows the value of your pension as if you had left the scheme on 31 March.
Annual pension – the total amount of pension you would get each year.
Your estimated future benefits
Section 5 of your statement shows how much your pension could be worth at Normal Pension Age (NPA), if you carry on paying into the scheme and stay on the same hours and pay.
Total pension @ NPA – the total amount of pension you’re estimated to get each year.
Maximum lump sum – the maximum tax-free cash lump sum you’re estimated to get.
Your current benefits to date
Your statement shows how much your pension is worth if you were to take out your deferred benefits on the date shown. If you have more than one deferred pension with us, you will have separate statements.
Total annual pension – the total amount of pension you would get each year.
Remember, most of the figures on your statement are estimates only and may be slightly different from your final retirement figures.
ABS glossary
Use the glossary below to help you understand your annual benefit statement.
| 50/50 section | The amount of pension you have built up in the 50/50 section in the last year up to the date on the statement. To calculate your CARE pension, 1/98 of your pensionable pay is put into your pension account each year. | Learn more |
| Active | When you are currently paying into your pension. | |
| Additional pension bought | The amount of extra pension you have bought by paying additional contributions in the last year up to the date on the statement. If you have an AVC scheme, you will receive a separate statement from your AVC provider. | Learn more |
| Annual benefit statement | A summary of your pension benefits for the year up to 31 March. It shows how much your pension is worth at that date and gives you an estimate of what it could be worth when you retire (at your Normal Pension Age). | |
| Annual final salary pension | The amount of final salary pension you would get yearly if you left the scheme on the date on the statement. | |
| Annual pension | The total amount of pension you would get yearly. | |
| Annual survivor pension | The amount of yearly pension your partner will receive for the rest of their life if you die. This figure will show as zero if you are single. | |
| Automatic lump sum | The value of your automatic tax-free cash lump sum, if you were an LGPS member before 31 March 2008. If you joined after 1 April 2008, this figure will show as zero. | |
| Automatic lump sum @ NPA | The amount of automatic tax-free cash lump sum you could get at your Normal Pension Age (NPA) if you were an LGPS member before 31 March 2008. If you joined after 1 April 2008, this figure will show as zero. | |
| CARE annual pension | The amount of yearly CARE pension you would get if you were to take out your deferred pension on the date on the statement. | |
| CARE divorce debit | The amount that your CARE pension will be reduced by. | |
| CARE scheme pays debit | The amount that your CARE pension will be reduced by because of your scheme pays debits. | |
| Career Average Revalued Earnings (CARE) | A new type of pension scheme that was set up in 2014 (2015 for Police and Firefighter schemes). CARE pension relates to the benefits you built up in a CARE scheme. | |
| Closing balance (Firefighters' and Police) | The total amount of CARE pension you currently have in your pension account up to the date on the statement. | |
| Closing balance (LGPS) | The total amount of CARE pension you had in your account last year. | |
| Date benefits payable from | The date when your deferred pension benefits will be paid to you. | |
| Date FS benefits payable from | The date your final salary benefits will be paid to you. This includes any pension benefits you built up before April 2015. | |
| Date of leaving (DOL) | The date you left the employment related to this pension or the date you opted out of the scheme. | |
| Death in service lump sum | A one-off lump sum payment of three times your pensionable pay your loved ones will receive, if you die while paying into the scheme. You can choose (and change) who receives this lump sum by nominating a beneficiary in your online PensionPoint account or sending us a nomination form. | |
| Deferred | When you have left your scheme (eg moved jobs or opted out) and are no longer paying into your pension but have not started receiving your benefits yet. | |
| Earned pension | The amount of CARE pension you have built up in the last year up to the date on the statement. | |
| Estimated CARE pension | The amount of yearly CARE pension you could get at Normal Pension Age (NPA) if you stay in the scheme earning the same salary as you do now. | |
| Estimated final salary pension | The amount of yearly Final Salary pension you could get at Normal Pension age (NPA) if you stay in the scheme earning the same salary as you do now. This will show as zero if you only built up benefits in the 2015 scheme. | |
| Estimated survivor's yearly pension | The amount of survivor's pension your partner will receive if you die at Normal Pension Age (NPA). This figure will show as zero if you are single. | |
| Final salary annual pension | The amount of yearly final salary pension you would get if you were to take out your deferred pension on the date on the statement. | |
| Final salary pay | Your basic salary from the last year or your full-time equivalent pay from the last year if you’re working part-time. This figure is used to calculate your final salary benefits. If you are a Cumbria or Bexley member who works term-time, your final salary pay is calculated differently, based on the number of weeks you worked. | |
| Final salary pensionable pay | Your full-time equivalent pay at the date on the statement. | |
| Former employer | The name of your old employer relating to this pension. | |
| FS divorce debit | The amount that your final salary benefits will be reduced by. | |
| FS scheme pays debit | The amount that your final salary pension will be reduced by because of your scheme pays debits. | |
| In year build up | The amount of CARE pension you have built up in the last year up to the date on the statement. | |
| Increase for the cost of living | Your pension is revalued each year in line with inflation to keep up with the cost of living. | Learn more |
| Main section | The amount of pension you have built up by paying the normal contribution rate in the last year up to the date on the statement. To calculate your CARE pension, 1/49 of your pensionable pay is put into your pension account each year. | |
| Maximum lump sum | When you retire, you can swap part of your annual pension for a tax-free cash lump sum. This figure is the maximum tax-free cash lump sum you could get at Normal Pension Age (NPA) if you stay in the scheme earning the same salary as you do now. | Learn more |
| Normal Pension Age (NPA) | The age you can receive your pension in full (without any reductions). | |
| Opening balance | The total amount of CARE pension you had in your account last year. | |
| Payroll number/reference | The unique reference number your employer (or their payroll provider) uses to identify you. You will normally have a different payroll number (and separate pension account) for each employment. | |
| Pension @ NPA | The total amount of yearly pension you could get if you stay in the LGPS earning the same salary as you do now and retire at Normal Pension Age (NPA). This does not include future increases for inflation. | |
| Pension debit | The amount your pension will be reduced by because of a pension sharing order or because you chose to pay an annual allowance tax charge using scheme pays. These are estimated figures based on your current earnings and your actual pension debits will be calculated when you retire. If you don't have any debits, this section will show as zero. | |
| Pensionable pay | The portion of your salary used to calculate how much your pension contributions are each year. This may include your basic salary plus any bonuses and overtime payments. | |
| Projected career average pension to NPA | The amount of yearly CARE pension you could get at Normal Pension Age (NPA) if you stay in the LGPS earning the same salary as you do now. | |
| Projected final salary pension to NPA | The amount of yearly Final Salary pension you could get at Normal Pension age (NPA) if you stay in the LGPS earning the same salary as you do now. | |
| Prospective survivor's annual pension | The amount of yearly pension your partner will receive for the rest of their life if you die at Normal Pension Age (NPA). This figure will show as zero if you are single. | |
| Scheme at DOL | The scheme you were in at your date of leaving (DOL). | |
| Scheme year CARE total | The total amount of CARE pension you have built up in the last year up to the date on the statement. | |
| Total annual pension | The total amount of pension you would get yearly. | |
| Total career average pension | The total amount of CARE pension you have in your pension account at the date on the statement. | |
| Total pension @ NPA | The total amount of yearly pension you could get at Normal Pension Age (NPA) if you stay in the scheme earning the same salary as you do now. | |
| Transfers in | The amount of pension you have transferred into your account in the last year up to the date on the statement. |
