Published: 24 June 2024
What is an Annual Benefit Statement (ABS) and how do they work?
If you are a member of the Local Government Pension Scheme (LGPS), your 2023/24 Annual Benefit Statement will be available on the 'My Pension' Portal by 31 August 2024.
What is a benefit statement?
Your benefit statement is an annual summary of your pension benefits. It tells you the value of your pension benefits at the previous 31 March. It includes how your pension is revalued in line with the cost of living and what it could be worth in the future. As the LGPS is an occupational pension scheme, this means it is linked to your pay for each job that you do. If you have more than one job, you will receive a different ABS for each role.
What is an ABS useful for?
Your ABS is a handy way to help plan ahead to what your lifestyle could be like in retirement. It may help you when you're making decisions about your retirement or when using our online benefit projector tools.
How do I view my ABS?
You can view your ABS, as well as any previous statements online on the 'My Pension' Portal. Once you have logged into the 'My Pension' portal, select the Annual Benefit Statements tab from the dashboard. From here you can download and save your statement(s) or print them off.
Need help understanding your 2023/24 ABS?
Check out our 2024 Annual Benefit Statement Video Guide