About your Pension Savings Statement(s) 2017
Your Pensions Savings Statement provides important information about the growth of the defined benefit part of your Civil Service pension. It will help you decide if you have a pensions tax charge to pay.
We will send you a statement if you meet one or more of the following criteria:
- you have breached your Annual Allowance in 2016/17;
- you earn over £100,000;
- you have requested a Pension Savings Statement.
What to do if you receive a statement
If you receive a Pension Savings Statement, you will need to calculate if you have an Annual Allowance tax charge to pay or not.
You will need to review your Civil Service Pension Savings Statement(s) alongside any statement(s) you may have received from any other provider that you hold pensions with.
Tax is your individual responsibility and we cannot complete or assist you with any tax liability calculations. We recommend that you seek independent financial advice if you are concerned about tax and how this affects your pension benefits.
Support available to you
Pension tax awareness sessions are available to members who receive a statement. You should contact your employer directly if you would like to attend a session. These sessions are designed to help you improve your understanding of the pension tax legislation.
You are eligible to attend a pension tax awareness session if:
- you have received a Pension Savings Statement;
- you have calculated that you have an annual allowance tax charge to pay.
If you are liable to pay any Annual Allowance tax charge, you should follow HM Revenue & Customs guidelines for calculating, declaring and paying any tax due.
Information on how to calculate whether you have any tax to pay is available at: