If you require an estimate for a member, the most efficient method is through Employer Self Service which allows you to securely and remotely access the records or your members, enabling you to:
- view, create and amend member data
- perform benefit calculations, such as Pension Estimates
- produce and view documents
- run, create and print reports online
If you have not signed up for ESS, please register here.
The Pensions Service can manually provide you with a retirement estimate for any of your pensionable employees. To request an estimates please complete and return the Employer Estimate Request Form which can be found on our Forms, booklets and factsheets page.
Before requesting estimates please make sure that the scenario is one allowed by your discretions policy.
Please be aware that there might be a capital cost payable, known as a strain cost. This cost will be provided with any estimate where the retirement grounds would result in an early payment cost being incurred. Please make sure you understand these costs. The capital cost is paid in a single immediate lump sum payment unless alternative arrangements have agreed with Head of Pensions and Section 151 Officer for exceptional circumstances.
Due to the work involved in providing estimates, the Pensions Service would ask that employers only submit a request where there is a realistic expectation of the member leaving with a pension.
If you are undertaking a bulk exercise whereby estimates are needed for a significant number of staff, e.g. for a restructuring exercise, please contact our dedicated Employers Team, who will discuss a way forward with you.