Annual Benefit Statement Note
For the last 5 years Essex Pension Fund has distributed the Annual Benefit Statements for active (contributing) members by 31st August each year. In fact from, this year it is now a statutory obligation on behalf of the Fund to achieve this.
The information contained in the statements, such as pensionable pay and pension contributions, is provided by your employer. This year, the first year of the new CARE scheme, has seen many employers struggle to provide accurate data. As a consequence by the 31 August deadline 93% of scheme members were issued with an Annual Benefit Statement.
If the data has not been provided in a timely manner or is incorrect the Fund cannot guarantee you will receive an Annual Benefit Statement for 2015. This is because we do not have the information required to calculate your pension benefit values.
Furthermore, without this correct data we are also unable to provide scheme members with other information such as cash equivalent transfer values and retirement estimates. Plus, if you are considering retiring in the near future and your employer is one of those who have not submitted their end of year returns, the retirement process may be extended or your payment of pension benefits could be incorrectly calculated, delayed or even withheld completely until we receive the necessary data from your employer.
If you have not received your Annual Benefit Statement for 2015 please contact your employer