31 May 2022

The following comments have been made to recognise the position of HM Treasury (HMT) policy decisions on ABS for this year

At the Fire Technical Working Group (FTWG) meeting on 7 March 2022 we discussed annual benefit statement production (ABS) for 2022. As ABS’s in 2022 will be based on current scheme regulations up to 31 March 2022, it was proposed that the same process as last year is followed, and the statements caveated in a similar way. FPS Bulletin 44 – April 2021 provides more information.

However, while the recommendation last year was to suppress projections for fully protected members which would have incorrectly forecast final salary benefits beyond 31 March 2022, administrators were asked to consider that projections for former protected members could be included this year on a fully CARE basis.

The group failed to reach a consensus on this matter, it was therefore agreed that administrators will make the final call on whether to include projections or not. It is the expectation that administrators will notify the FRAs they administer on their decision.  

We will continue to review requirements for ABS over the coming years in line with HMT policy decisions on remedy.

Appropriate messaging

It is recommended that this approach should be communicated to members in the ABS using the suggested caveat included in FPS Bulletin 57 - May 2022.

The Pension Scheme Tax Reference (PSTR) is the unique reference allocated by HM Revenue & Customs (HMRC) when the scheme has been successfully registered for tax relief and exemptions.

The documents in this section are scanned copies of letters from HMRC confirming registration and giving the PSTR numbers.

Each FRA as sub-scheme administrator also has a unique PSTR.