Each year in August, the Total Reward Statements (TRS) are updated, and this includes members Annual Benefit Statements (ABS) to help them plan for their future.
What is new this year?
Following last year's update - which introduced Public Service Pensions Remedy (McCloud), alternate benefits to statements - this year’s updates will include future pension projections for some Scheme members.
Not all members will receive a projection. This new feature is limited to members who are active in the 2015 Scheme and under Normal Pension Age. This addition will help these members better visualise their long-term retirement planning.
Important information for partially retired members
If a member has already taken partial retirement and is currently receiving some of their pension benefits, they will not automatically receive an updated Annual Benefit Statement this August.