XPS LINK TO WEBSITE FOR PERSONALISED PENSION STATEMENTS

Dear Member,

We acknowledge that you may be concerned as you have not yet received your Annual Benefit Statement and so we wanted to provide a further update to you with some reasons as to why that may be

For those members not affected by-McCloud

As a member of the Police Pension Scheme, you are entitled to an Annual Benefit Statement (ABS) by 31st August, unfortunately, we have not been able to produce your statement by the required date. This could be due to non-receipt of data from your force or due to an outstanding action on your pension record that is stopping the production of your statement; we are reviewing the work that is required and will then look to issue a statement at the earliest opportunity.

For members Affected by McCloud

For those members affected by pension remedy, forces are required to supply an Annual Benefits Statement (ABS) which contains additional information in the form of a Remediable Service Statement (RSS). This will show comparative benefits to members under both their legacy final salary scheme and the reformed 2015 scheme, the ABS RSS statement will also outline the relevant adjustment to contributions required i.e. pay additional contributions or refund of contributions.

The legislative deadline to provide an ABS RSS to active members is 31 March 2025 however XPS have been working closely with NPCC and wider stakeholders on the McCloud project and agreed that we would aim to produce the ABS RSS in line with the normal Annual Benefit Statement run by 31 August 2024. Across our Police and Fire client base we have over 32,000 members due to receive an ABS RSS, and to date, we have been able to publish almost 70% of ABS RSS statements.

For those members who have not yet received their statement, this is for one or more of the following reasons, and we will work with Scheme Managers to agree a future schedule of work, including resolving outstanding data collection queries and running of an additional ABS process(es).

XPS do not have all data required to publish a statement.

Further investigation is needed in relation to the member data which is preventing a statement from being produced. It is important to note that where data is available, it is possible that once we run through the calculation process, we may find issues preventing us from issuing an ABS RSS at an individual level.

Further developments to functionality are required to complete the relevant calculations.

It is important to note that ABS-RSS’s are for information only, they are not retirement planning documents and do not require a choice of benefits to be made at this stage.

Once your statement has been issued, you can locate it by logging in to your online record by visiting https://www.myownpension.org.uk/. For ABS’s, these will be found under ‘Benefit Statement’ and for ABS-RSS, or Rolled Back ABS’s, then these can be located under ‘My Document’s’.

If you have any questions about the Annual Benefit Statements, you can find answers to frequently asked questions at www.myownpension.co.uk.

We appreciate that this isn’t what you expected, and we thank you in advance for your continued patience as we work on getting your statements generated.

XPS Group