Can someone help me to understand my Total Reward Statement?

[TotalRewardStatement]

I know it's not rocket science, but I really don't get it. The current thread about how much people have in their pension pots made me realise that I don't know!

Watching this thread as I don't know, would be useful to find out. I asked on previous thread and didn't get an answer

@ifeelyoum, I'm glad it's not just me! Yes, I thought that posters on the previous thread were saying I have £X in my NHS pension, whereas I look at my TRS and have no idea. Do you think they're looking at the hypothetical annuity cost?

So what pension related information is detailed on your TRS?

From memory...

Annual pension
Lump sum
Survivor pension
Hypothetical annuity cost

Difficult to be certain with the detail out of context but based on my TRS...

Annual pension - predicted annual pension assuming you continue current contributions up to your retirement date
Lump sum - possibly refers to tax free lump sum you can take at 55
Survivor pension - paid to your child/partner on your death
Hypothetical annuity cost - how much you would pay in open market to buy a pension to the value of yours currently

Call your provider to be certain. I've only just recently had to make enquires about my pension, it's a bit of a minefield if you don't know what you are doing.

Thanks @Mum4Fergus - yes, I was worrying that what you said would be the case:

Annual pension - predicted annual pension assuming you continue current contributions up to your retirement date

😮

I hoped that what it showed would be what I was already entitled to.

Although it does say 'Current value of benefits' in the table with these figures...

Ask your provider for the guaranteed transfer value of your pot. That will tell you exactly what you have right now...then make some assumptions based on that value. My pot on paper is, for me, huge...but actually if I live to say 80-85 then when I divide my pot up over those years, it's not that much.

Like I say, it's a minefield...I'm over 50 now but have only just recently taken a real interest in it as it was managed (pretty well to be fair) by my former employer.

just phone them and ask for an explanation? They are usually very helpful. www.nhsbsa.nhs.uk/member-hub/members-contact-us

Thanks both, yes, I should phone them.