All you need to know about your Annual Benefit Statement

Feb 16, 2022
We’ve made a new, easy-to-follow, on-screen guide and a new online video, to help you figure out your Annual Benefit Statement.

Your Annual Benefit Statement (ABS) is an important, yearly summary of your pension savings. Along with more detailed calculations, it tells you about the savings you have now and what they could be worth in the future.

The information in your ABS is based on your own personal membership details, contributions, and the rules of your particular Section.

If you're a member of the Railways Pension Scheme,  you'll receive your ABS in the post every year during your birthday month.

But you can also see your most recent ABS online by signing in to your myRPS account. If you’re logged into your account, choose ‘View statements and estimates’ in the ‘My Pension’ section of your member home page.

We’ve made these two new guides because your ABS is full of calculations and figures and can sometimes look complicated.

In the new, on-screen explanation and in the video, we clearly explain all the terms and numbers to help you understand what it all means for you and your future.

If you have your own ABS to hand while you go through these guides, we guarantee your pension figures, as well as your future, will become so much clearer!

Our new, on-screen Guide to your DB Annual Benefit Statement features a genuine example* of a defined benefit (DB) ABS, with simple explanations of each section. You can also find this guide in the Read as you Need guides under ‘Resources’ on this website. 

Or watch our easy-to-follow, new video: Understanding your Annual Benefit Statement. This video is also in the online Video Library under ‘Resources’ on this website.

 

 *The figures in the example ABS shown in the guides are NOT your own pension savings and are included there for illustrative purposes only.