Understanding your benefit statement

Your annual benefit statement – probably the most important document we send you each year – is now available to view online. When you look at it, you’ll be able to see three main things:

1. Where you are: how much money you’ve got in your HIPS DC pension account at the moment
2. Where you’re going: how much your pension could be worth at retirement, based on certain assumptions
3. What you can change: how you could increase your pension

We know some of the terms and figures may seem complicated, so we’ve also produced a PDF guide -

You can look at this alongside your benefit statement. It explains some of the more technical terms and gives some additional context to the figures.