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Pensions are long-term savings and your projected pension pot at retirement depends on factors such as annual contribution increases, inflation and how and when you access your pension pot.

When we provide a projected pension pot value to illustrate what you might receive when you access your pension, we must make a number of assumptions on the factors above. We also use these same assumptions in your annual statement.

• One of the key assumptions is how investment funds might perform in the future. This is known as the ‘investment growth rate’.
• Each year, The Trustee's of The People's Pension decide on the assumed growth rate for each fund. If you'd like full details of the assumptions used, please see our knowledge base.
• It’s important to be aware:
  • these are just estimates of what might happen, the actual growth achieved by the funds may be higher or lower
  • the illustration takes into account how inflation will reduce the buying power of your pension pot over time and so your projected value at retirement is in ‘real terms’ ie today’s prices – find out more.
  • any projection given is for guidance and is not guaranteed
  • we haven’t made any changes to the way we manage your investments.

If you’d like a more detailed illustration, please contact us.