Pension estimates and annual statements
Our main focus till the end of August is on ensuring that retirement applications for teachers retiring at the end of this school year are processed and paid on time. If you are considering an offer from your employer to retire early on premature grounds please contact your employer for an estimate of benefits. If you require an estimate of your benefits you can obtain this from your benefit statement and the calculators. Please see how below
UK Pensions legislation requires that administrators of occupational pension schemes must disclose pension details to individual members. This can be provided automatically or on request, but no more than once in a 12 month period.SPPA provide annual statements to active members via the My Pension- online member service. This service can be used to view and print annual statements or to use the online calculators to estimate pension and lump sum options.
An Annual Benefit Statement can be provided on request, for members who do not have access to the online member service.
In addition, SPPA will provide pension estimates on request, for members who are within a year of their normal pension age.
Estimates and annual statements will normally show figures for benefits accrued up to a current date or to the end of the last financial year and will be based on salary details supplied by employing authorities.
Members or their representatives, have the option of requesting additional estimates covering scenarios of their choice, however, this will incur an administration charge.
For data protection purposes, any requests for pension estimates must be made in writing (or e-mail) and include member identity details, home address and details of the information required.
Please note that every effort is made to ensure pension estimates are accurate but members should be aware that they are estimated figures only. Exact figures for retirement benefits cannot be given until such time as final pay and service details are known and an application for retirement benefits has been made in accordance with the scheme rules.