Forces Pension Society

Fighting for the forces and their families

Pension Forecasts

June 24, 2016
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Yesterday a team from the Society had a very good discussion with veterans UK.

One of the things we talked about was the quality of pensions forecasts. In the Society we have found that sometimes our members have been provided with pensions forecasts which are inaccurate. This does not happen very often but it happens more than it should, and of course when it does happen it can cause huge confusion and misunderstanding. Sometimes forecasts are wrong because incorrect information has been provided by the individual concerned, on other occasions because of the challenges of integrating various systems, on other occasions because of human error. We gave evidence of some of the mistakes we have picked up on behalf of our members to Veterans UK, and  they have responded most impressively: they have reviewed their procedures and in particular they have introduced a system whereby every forecast they provide is checked internally before it is issued. This is a very big change for them and one which should lead to a significant and noticeable improvement in this vital area. It shows how serious they are about providing the best possible service, and it  is an example of the Society working very closely with the MoD and feeding back to them our own members’ experiences, to the benefit of all. We shall continue to monitor this very closely and look forward to hearing about our members experiences.

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