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Pensions Glossary

Overwhelmed by all the pension jargon? Fear not, our pension glossary has you covered. All the important terms and acronyms explained right here.

What is a Pension Statement?

Most pension providers issue one pension statement a year to members of their schemes. Your statement should show you how much is in your pension pot and an estimate of how much money you might receive when you retire. It should also show any special guarantees that your pension has, as well as its transfer value – the amount you would get if you changed provider or cashed in your whole pot. You can also get a state pension statement from the government, online at gov.uk that shows how much you will receive from the state when you reach state pension age.

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