2021 Annual Benefit Statements
2021 Annual Benefit Statements
We have been advised by our pensions administrators, XPS, that your 2021 annual benefit statement is now available to view on your online pension record. This year’s statement provides an estimate of benefits at 31 March 2021, as well as a projection to your Normal Pension Age (NPA). Depending on which pension scheme you will be a member of at retirement, the NPA:
- for fully protected PPS 1987 members – is the earlier of the age on which you will achieve 30 years’ membership, or the compulsory retirement age (CRA) for your role that was in place before 1 October 2006:
- Age 55 – Constable and Sergeants
- Age 60 – Inspector to Chief Superintendent
- Age 65 – Assistant Chief Constable and above
- Fully protected PPS 2006 members – is Age 55 (whilst NPA is age 60, the projection will be at age 55 as this is the earliest date that benefits can be paid).
- PPS 2015 members – is Age 60 in all cases (i.e. even where you have moved, or are due to move, from one of the earlier PPS schemes).
Once you have registered to view your pension record, you can then access your benefit statement. Please note, you will have 2 pension records if you had moved into PPS 2015 prior to 31 March 2021. In order to view the statement that will include any prior PPS membership (i.e. PPS 1987 or PPS 2006), you must select the ‘Active’ status record (which will be named ‘2015 Scheme’).
If you are fully-protected in PPS 1987 or PPS 2006, or have tapered protection until a date into the future, you will only have the 1 pension record.
If you haven’t yet registered, please do so as XPS will not be sending you a paper statement. If you need help with registering, please refer to the Registration Guide, or email MSS@XPSgroup.com.
The personal information, and the benefits quoted, on your statement will confirm your circumstances, both at 31 March 2021 and at retirement. Whilst the statement contains a lot of useful information, including the benefits from whichever pension scheme(s) that applies to you, specific notes applicable to each scheme for Protected and Tapered/Unprotected members, can be found separately from the MyOwnPension website; there is a link to the notes at the foot of the benefit statement screen. This should help you to focus on the scheme rules that are specific to you. These notes will also tell you where you can find certain other information pertaining to your scheme membership that is not reflected on your statement.
If you are already affected by PPS 2015, some of this additional information (such as the date of joining your original PPS scheme) will be on the final salary pension record.
Did you know you can also run your own retirement calculation? In addition to viewing your annual benefit statement, you can also run your own estimates if you are interested at claiming your benefits at a different date / age. Select ‘Benefit Projector’ and then ‘Voluntary Retirement’. Simply change the pay figure (if you need to) and the retirement date, and the estimated figures will be shown.
Please note: the annual benefit statement, and the online projector, are accurate in the majority of cases but there are limitations. If your benefits have been reduced following either a divorce or an annual allowance breach, the figures quoted may not account for the current value of these reductions. Please do not enter into any financial obligations on the strength of these figures alone. Please contact the Pensions Unit for definitive figures.
Please note, any values quoted within the Annual Benefit Statement are estimated, and are based on the current regulations and scheme structure.
