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Clarity around protection of pay estimates

Following the Employer Newsletter article about protection of pay estimates published in June, we have provided the below guidelines:

Upon request we will provide a ‘most beneficial’ Age estimate, including protection of pay/multiple breaks, for any members that are within 12 months of normal pension age, free of charge. Members over normal pension age are also eligible for one free ‘most beneficial’ estimate which includes protection of pay/multiple breaks.

The £75 charge will apply if a member requests an estimate to take account of their protected pay if they are more than 12 months before reaching normal pension age.

If a member does require an estimate of benefits including their protection of pay you can request this by submitting the request for an estimate of benefit form (AW295).