Defined Benefit Deferred Pension

xylophone

You say that this is a  deferred DB pension in a company scheme.
Are you receiving annual statements?

Dox

xylophone said:

You say that this is a  deferred DB pension in a company scheme.
Are you receiving annual statements?

Just to clarify for anyone reading this thread - OP should be receiving Summary Funding Statements (showing details of the overall financial health of the scheme) roughly annually, but not personal benefit statements now they are a deferred pensioner.

Thrugelmir

Dox said:

xylophone said:

You say that this is a  deferred DB pension in a company scheme.
Are you receiving annual statements?

Just to clarify for anyone reading this thread - OP should be receiving Summary Funding Statements (showing details of the overall financial health of the scheme) roughly annually, but not personal benefit statements now they are a deferred pensioner.

DB schemes are required to have actuarial valuations performed triennially. 

xylophone

but not personal benefit statements now they are a deferred pensioner.

It appears that some schemes provide them.
https://www.kentpensionfund.co.uk/local-government/deferred-member-no-longer-paying-in
However, the scheme with which I am most familiar simply advised deferred pensioners to keep Admin updated with any change of address  or circumstances and  to claim the pension at NRA.

hyubh

Dox said:

xylophone said:

You say that this is a  deferred DB pension in a company scheme.
Are you receiving annual statements?

Just to clarify for anyone reading this thread - OP should be receiving Summary Funding Statements (showing details of the overall financial health of the scheme) roughly annually, but not personal benefit statements now they are a deferred pensioner.

Just to clarify for anyone reading this thread - that will be the other way round if LGPS

Dox

Thrugelmir said:

Dox said:

xylophone said:

You say that this is a  deferred DB pension in a company scheme.
Are you receiving annual statements?

Just to clarify for anyone reading this thread - OP should be receiving Summary Funding Statements (showing details of the overall financial health of the scheme) roughly annually, but not personal benefit statements now they are a deferred pensioner.

DB schemes are required to have actuarial valuations performed triennially. 

...and annual actuarial reports in the intervening years (unless the scheme has very few members).

Thrugelmir

Dox said:

Thrugelmir said:

Dox said:

xylophone said:

You say that this is a  deferred DB pension in a company scheme.
Are you receiving annual statements?

Just to clarify for anyone reading this thread - OP should be receiving Summary Funding Statements (showing details of the overall financial health of the scheme) roughly annually, but not personal benefit statements now they are a deferred pensioner.

DB schemes are required to have actuarial valuations performed triennially. 

...and annual actuarial reports in the intervening years (unless the scheme has very few members).

My Public sector is an annual statement of benefits, the private sector comes triennially. 

Albermarle

and annual actuarial reports in the intervening years (unless the scheme has very few members).

Yes same for me . the next one will presumably not make pretty reading .

My only benefit statement was when I left the company 20 years ago and more recently when they were trying to buy me out they sent some more up to date figures.

LHW99

If you have a leaving statement, some organisations provide calculators online letting you get a "guesstimate" of likely income at NRA

hyperhypo

I'm in a deferred db scheme (private utility)...no annual valuations are provided automatically but are available,  given notice, if a phone request made to the scheme admins. Or, e.g. as a valuation is provided at time of deferrment , calculate present valuation according to whatever metric is used, CPI or RPI.