What is your Annual Benefit Statement (ABS)?

Your Annual Benefit Statement (ABS) is one of the most important things to help you keep on top of your planning for life after work. It lets you know what you might be entitled to when you come to take your pension, and the information used to calculate it. It’s sent to you around the month of your birthday.  

What changes have been made to your ABS and why?

Your ABS needs to give you the information that matters most to you, in a way that you can easily understand.

With this in mind, your statement has been simplified and improved. It’s now just 2 pages, with colour-coded sections that make it easier to see and understand the most important figures. We’ve also made it clear where you can find more information by logging into, or registering for, your myFund account.

These improvements are designed to help you better understand your pensions and comply with government requirements for pension schemes to simplify their annual statements.

When you first get your new look ABS, it’ll also be available to view in your myFund account. Any statements you’ve had from previous years won’t have been updated with the new design, so these will appear in their original format.

Where can I discover more about the new ABS?

You can read our guide to your new ABS in the ‘Read as You Need guides’ section of the website under ‘Resources.’ The guide is there to help all members of the Fund. It will help you understand some of the main features of the new-look ABS.