Deferred DB Scheme statement query

trevjl

I am aware that the scheme has to provide a free statement on request once a year.
This has never been an issue previously, they have normally provided one within a a couple of weeks showing figures for benefits at next birthday and at NRA which is 65. However, this year they took ages to send it and when I chased they said they had received a high number of requests. It did then turn up but had only a statement for retiring at my next birthday which is in November when I am 62. 
The covering letter says again about the "high number of requests" and says if I am not retiring this year then to ask again in 2025.
Am I wrong in thinking that this is not right and I should be entitled to the correct NRA statement.
The company pension dept are not adverse to doing what they fancy and ignoring rules, I have pulled them up more than once over the years thanks to the knowledge from folks on here.

leosayer

It's hard enough for people to make retirement plans without this kind of roadblock. 

Having said that, it's not too hard to perform your own calculations. If you post some details then I'm sure you'll get some help from this forum.

Tommyjw

https://www.legislation.gov.uk/uksi/2013/2734/regulation/16 
https://www.legislation.gov.uk/uksi/2013/2734/schedule/5

To summarise

(First link) if you request it and havent been provided the same within the last 12 months, then within two months you should be given as a deferred member of a DB Scheme certain information outlined in Part 2 and Part 3 of Schedule 5.

(Second link) This is the following items (not included where mention to provide the dates of your service etc)

1. A summary of the method for calculating the member's benefits and any survivors' benefits.

2. The amount of the member's benefits and survivors' benefits payable from the date benefits are payable.

For myself with my DB clients it is generally thought of as:

1) Start with assuming "date benefits payable" is the NRA , as that is ultimately the only date you have a guarnatee to retire from. Therefore you always have to provide a projection to NRA at the very least. 

2) If the Scheme Rules, or Trustee overriding discretion, allows Early Retirement then you have effectively volunteered yourself including any date request within this criteria benefits can be paid therefore, similar to your next birthday request. So, similarly, provide any other retirement date figures they request.

The trouble is, it isn't specific, and there has to always be some allowance to be provided to not make poor resourced DB firms even worse. If someone at 55 asked me for a quote at 64, i'll give you your NRA projection as i have to and i'll tell you a huge list of things could change by then that makes giving you anything specific to age 64 utterly pointless. 

Ultimately all you can do is complain, go through the process to complain direct to the Trustee, and you'll probably at some point in that process be given what you want but it would be doubtful it would change the companies overall process.

trevjl

I pointed out I did not ask for anything other than projection at NRA, they just emailed back saying it will be with you this afternoon - and it duly was !!!
They were just trying to fob off people that know no better.