Annual benefit statements

Production of 2024 annual benefit statements has begun and you'll be notified when your statement is ready to view on My Pension. We're currently only producing statements for members that are out of scope for Remedy.

To help you understand your ABS please read the following notes alongside your statement.

• If you have both FPS 2015 and FPS 2006 membership read these notes
• If you have FPS 2015 membership only only read these notes

This year’s annual benefit statement provides an estimate of your pension benefits built up in your current scheme using membership to 31 March 2024.

Sargeant Remedy: In-scope members

2024 Annual Benefit Statements and Remedial Service Statements (ABS RSS) – service update

Regretfully we will not be able to produce any ABS RSSs before the deadline on 31 March 2025.

We are very sorry that we can’t do this following our stated intention to do so in our December letter to you. We are working with our software provider to fix and test the system and will produce your statement as soon as we can. We aim to issue all statements by 30 June 2025.

What is the ABS RSS?

Your ABS RSS is for information purposes only. You do not need to make any decisions about which benefits you want to take until you retire.

It shows you the benefits you are entitled to relating to the Remedy period (April 2015 to March 2022) in both the reform scheme (FPS 2015) and your legacy scheme (FPS 1992 or FPS 2006) at 31 March 2024 and projected to your 60th birthday.

Why is the ABS RSS delayed?

The production of the statements has been delayed because WYPF’s administration system has needed significant reprogramming to comply with the legislative changes. Unfortunately, these changes and upgrades supplied by our software provider have not all worked as expected and have required a lot of testing and fixing.

Although your 2024 statement has been delayed, we are confident that all future statements will be sent on time as the changes we’re making now will future-proof production.

If you are affected by this delay, we will be writing to you individually with more information about it.

More information

The ABS RSS template has been designed nationally for all FRAs and administrators to use. If you would like to see this so you can start to understand the information it has in it you can visit the national member site here https://fpsmember.org/remedy/annual-benefit-statement-remediable-service-statement.

For general information about Sargeant Remedy visit https://fpsmember.org/remedy