Combined Pension Forecasts
Combined Pension Forecasts are a very simple way to provide information to an individual so they may make an informed choice about any future pension provision. Quite simply it is a service offered to employers/pension providers to enable both private AND state pension information to be seen by an individual where previously they would only receive an annual statement for their private pension only. By providing information on all likely pension income - and doing so at all stages of an employees working life - we are helping to give individuals a 'health check'; one which is repeated each year.
Reaction has been excellent to this service - which is provided free by the DWP. Recent independent research has shown the majority recipients of a combined pension forecast have welcomed the service, with many admitting it has prompted them to take action. For employers, the scheme has proved a bonus too, with many reporting initial fears over costs or resources have proved unfounded.
Members of the Combined Pension Forecasting team routinely visit company pension scheme managers and seek to sign up their schemes for this service. Now they are looking to engage with employee representatives too, to inform them of the benefits of CPF and how easy it can be for a private pension scheme to sign up and issue combined forecasts. They are visiting the TUC Congress as part of the DWP stand (stand 66, in the foyer, beside the refreshment area) and would welcome the opportunity to speak to anyone with an interest in promoting education of an individuals pension entitlement. They are able to supply further information on the service for you to take back to a company and will happily follow this up with a personal presentation at a later date.
Customer Account Manager
Combined Pension Forecast Team
If you are interested in your scheme signing up to Combined Pension Forecasts, or want more information, there is a helpline number - 0870 010 1684
The website is: http://www.thepensionservice.gov.uk/pensionforecast
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