Annual Benefit Statement
From June 2021, your Annual Benefit Statement (ABS) is going paperless
From June this year, our aim is to stop sending out paper copies, unless you choose to receive it that way. You’ll be able to view this year’s statement, in addition to those currently viewable online (the 2020 and 2019 versions), through the Pension Portal.
Having your ABS online means that you can access your pension benefits at the touch of a button, without the need to store and archive paper copies. The Pension Portal does that for you.
We currently produce over half a million statements, using seven million pieces of paper. By going paperless, we can also do our bit for the environment and leave a lighter footprint. Printing and distributing these generates over 100 tonnes of CO2.
Annual Benefit Statements will be loaded to the Pension Portal in the order that they’re produced. That means we’ll be loading them in batches from mid-June until the end of August this year. We will share a distribution schedule in May, which will give you an estimate of when you should receive your statement, depending on the employer you work for.
Register for the portal
In the meantime, if you haven’t already done so, why not register for the pension portal in preparation for viewing your statement online?
Your Annual Benefit Statement is an estimate
Annual Benefit Statements are an estimate of your benefits earned to the end of the scheme year (31 March), based on the information provided by your employer.
When you come to claim pension benefits, you can expect to receive a full and accurate quotation. You shouldn’t enter into financial commitments based on the figures in your ABS, as these may change.
Updating your address
If you are moving house soon or have moved already, did you know you can now update your address on the Pension Portal. It’s very simple and really quick to change your details, and it means that you will still receive important information from us.
Updating your death benefit nomination – looking after your loved ones
Your Annual Benefit Statement contains details of your death benefit nomination, if you have one in place.
If you haven’t, it’s now even easier to set one up through the Pension Portal. You can also add or amend your death benefit nomination by completing a death benefit nomination form. You can download the form from the Member Forms page.