please help- totally confused

homersimpson_3

A is 39 ½; is a member of a traditional occupational final salary scheme & is paid monthly. A has been buying additional years for just over 1 year and pays 8.5% of his salary each month. He has to pay 8.5% of salary every month until 60. A has no dependents.

His pay slip shows the following deductions:

NATIONAL INSURANCE
NI Cont Contracted Out Standard

SUPERANNUATION
Name of Pension scheme x% BT
Added years Family Benefit x% BT
Added Years x% BT

EMPLOYERS PENSION CONTS
Employers Pension Contributions x%

A also has a State Pension Statement which states:

Basic State Retirement Pension:
Additional State Retirement Pension:
Total State Retirement Pension:

A recently had a pension forecast from employer which stated benefits projected to pension age as (amount). This seemed incorrect and after some correspondence the employer admitted they had not added the additional years onto pension. Employer sent him revised statement and there was an increase of several thousands of pounds in the figure for ‘benefits projected to pension age’. A has recently been told by employer he can retire at 60 but there is apparently a huge shortfall in the pension fund and one option being considered by employer is reducing the amount of pension. This is apparently being negotiated with the union.

Given the above A is understandably concerned about pension. A apparently has tax relief on the payments for additional years and wants to check employer is actually adding this into the pension fund. How does he do this? Does he just contact pension provider?

The pension scheme says A could only buy added years by lump sum during the first year of joining the pension scheme. This is not an option for A because he has been in the pension scheme for 7 years.

What should A also consider? A is totally confused and has very little understanding of pensions which seem to be a minefield.