Pension Statements

It is essential that the insurance company running the Pension Scheme issue correct annual Pension statements.

These statements generally confirm the Pension contributions paid in the previous year, as well as a current fund value.

In our experience the most common cause for dissatisfaction among Pension scheme members is incorrect Pension statements. This is due to the Pension statement being the only effective way for a Pension member to confirm that their Pension contributions are being collected and invested in a satisfactory manner.

In the event of a Pension statement being issued incorrectly, this causes a high level of dissatisfaction, which can escalate if more than one statement is incorrect.

Pension schemes are extremely expensive for employers to run both in terms of management time and cost, therefore can be extremely frustrating if this cost generates discontent and mistrust rather than a feeling of wellbeing and loyalty to the employer.