"I’ve just received my statement and it’s lower than last year’s, why is this?"
The current value may be lower than last year’s due to investment performance, or perhaps you’ve reduced or stopped your regular contributions.
The yearly statement is a snapshot of:
- what you’ve paid into your pension last year
- the total value of your pension savings and
- an estimate of what you might get at retirement.
It doesn’t take into account any contributions you’ve since paid in, or any change in the unit prices since the date of your statement. To see your current pension value, log into your account. Please note values aren’t guaranteed and can go down as well as up.