Your annual Uniform Pension Statement (UPS)
Every year you receive a personal pension statement from your pension fund: the Uniform Pension Statement (UPS). The UPS is a short overview of your pension, based on the details we held on file as at 1 January. You can find your Uniform Pension Statements in My documents in MyIFFPension.
This week you will be receiving your Uniform Pension Statement (UPS). This is a summary that shows at a glance how much pension you have accrued and the amount of pension you can expect. Are you retired? If so, the UPS will show the pension you receive.
A new aspect of the UPS: what if things go better or worse than expected?
The amount of your pension is not certain. This is illustrated in the UPS by three arrows indicating what your pension will be if the economy does better or worse than expected. Read more about this here in the November 2019 issue of IFF Update.
Questions on your UPS?
Please contact us.
Factor A on your UPS
You may need Factor A for your 2019 tax return. If you receive several pension statements you will have to take the Factor A from each of the statements and add them together. If you want to calculate your tax scope please us the Tax and Customs Administration’s Annuity Calculator. An independent adviser may also be able to help you with this.