Understanding Kingfisher Pension Info (Aptia)

JillyC8

Hi, 
I need a bit of help understanding the retirement quote I am seeing on my pension portal. This pension is a very tiny deferred Kingfisher DB pension. However, I don't understand the figure demonstrated at the bottom. I have already filled out the paperwork and submitted it to start the ball rolling and this is the current 'quote'.
Could anyone explain to me what the bottom figure represents?
I'm unable to paste a screenshot on here for some reason, so I'm typing it out exactly as it's shown on screen as follows:

Your Pension: £1262.28
Dependent Pension: £631.20
Retirement Lump Sum: £8448.53
This lump sum includes a KPS cash sum: £11,971.33

I've tried to call them but not getting any response at the moment.
Thanks

Marcon

JillyC8 said:

Hi, 
I need a bit of help understanding the retirement quote I am seeing on my pension portal. This pension is a very small deferred Kingfisher DB pension. However, I don't understand the figure demonstrated at the bottom. I have already filled out the paperwork and submitted it to start the ball rolling.
Could anyone explain to me what the bottom figure represents?

Please could you post a screenshot with any personal information redacted, otherwise I don't think anyone here can guess what you're seeing.

JillyC8

Marcon said:

JillyC8 said:

Hi, 
I need a bit of help understanding the retirement quote I am seeing on my pension portal. This pension is a very small deferred Kingfisher DB pension. However, I don't understand the figure demonstrated at the bottom. I have already filled out the paperwork and submitted it to start the ball rolling.
Could anyone explain to me what the bottom figure represents?

Please could you post a screenshot with any personal information redacted, otherwise I don't think anyone here can guess what you're seeing.

Hi, sorry I updated my original post because for some reason I'm unable to paste a screenshot.

xylophone

You do not say if you still have your statement of deferred benefits on leaving or your copy of the scheme guide.

There is a guide here - is it relevant to you?

https://www.kingfisherpensions.com/wp-content/uploads/2014/08/Member-Guide-Final-Salary.pdf

The figures on the current quote for PCLS do roughly align with sample calculation on p15 but I can't see anything that explains the 

This lump sum includes a KPS cash sum: £11,971.33

DRS1

How can £8k include £11k?

Very odd.  Maybe a typo?

Marcon

OP, it would be really helpful if you could post under just one name rather than using @Whiterose23 as well (which is also in keeping with forum rules) and keep all the relevant stuff on one thread. You'd be much more likely to get a helpful and well informed answer that way, so it's in everyone's interests to do so.

One of your previous threads gives more info and the answer - there's a money purchase bit attached: https://forums.moneysavingexpert.com/discussion/6585813/transfer-a-small-db-pension-or-not/p1

xylophone

Looking at post linked by Marcon, and guide, do you have a pre 2006 DB and post 2006 MP? Or you have a DB and AVCs?

 In either case, they have been linked to create the lump sum and annual pension? 

The £8443 represents 25% of the value of DB + MP?

And the monthly pension likewise comes from aggregation of the two?

Has there been any actuarial reduction (see guide)?

JillyC8

xylophone said:

Looking at post linked by Marcon, and guide, do you have a pre 2006 DB and post 2006 MP? Or you have a DB and AVCs?

 In either case, they have been linked to create the lump sum and annual pension? 

The £8443 represents 25% of the value of DB + MP?

And the monthly pension likewise comes from aggregation of the two?

Has there been any actuarial reduction (see guide)?

The pension is DB with an AVC.

I think you're right in saying that the sum at the end has been used to boost the lump sum/pension.