The key to a successful retirement is having a plan. Once you’ve formalised your retirement strategy with your Specialist Financial Adviser from Wesleyan Financial Services, the next step in the process is to understand how on track you are to meet your goals.
This is where the Wesleyan Pension Assessment Report comes in.
There are two reports you can choose from. A basic free version, and a full version (£960+VAT). The full version provides the clearest possible picture of your retirement plan.
What does the report show?
The in-depth report is designed to give you a projection of your NHS pension benefits, and assess your position in relation to the Annual Allowance.
See how you might be affected financially by using Scheme Pays, or what you could be entitled to if you need to retire due to ill health. Find out too how your family might be supported financially in the event of your death – not the easiest thing to think about, but vital to provide peace of mind for your family’s future.
Choose the full report and you can also find out:
- If and how you might be affected by the McCloud judgement (age discrimination ruling)
- How any personal pensions you hold could affect your post-work funds and lifestyle
- How inflation may impact your pension funds
- How future market conditions could affect your finances
Even if you’ve opted out of the NHS Pension Scheme, the report can project your current benefits to retirement. It can also show you the difference if you were to opt back in.
Differences between the full and basic versions of the report
In this video, Alec Collie, Head of Medical at Wesleyan Financial Services, talks through the differences between the full and basic versions of the Wesleyan Pension Assessment Report, designed for members of the NHS Pension Scheme.
What’s included...
| Basic report (Free) | Full report (£960 + VAT) | ||
|---|---|---|---|
| Officer, practitioner or combination membership | |||
| Maximum tax-free lump sum | |||
| Officer and practitioner added years | |||
| Future salary changes | |||
| Historical defer and re-joined the scheme | |||
| Partial retirement (if 100% of the 1995 scheme is taken) | |||
| Historical defer but planning to re-join in the future | |||
| Future plans to defer and then re-join | |||
| Annual allowance (current membership) | |||
| Annual allowance (legacy membership) | |||
| Annual allowance (reformed membership) | |||
| McCloud remedy period projections for legacy and reformed schemes* | |||
| Annual allowance and income record | |||
| Cost of Scheme Pays if used in the current year | |||
| Divorce | |||
| Personal pensions | |||
Note that only calculations based on 1995 and 2015 scheme membership are currently available.
*Basic report shows projections for legacy schemes only.
Learn more about the reports
To find out more about how the Wesleyan Pension Assessment Report can help you understand your projected NHS Pension Scheme benefits, watch this video with Wesleyan Financial Services Regional Manager, Wendy Baillie.
