Combined Pension Forecasts meaning

A Combined Pension Forecast is a member communication that brings together, in a single statement, the projected benefits from an individual’s workplace or personal (private) pension and their state pension forecast. In UK pensions practice this is a descriptive term, not a defined statutory concept. Historically, participating employers and pension providers issued Combined Pension Forecast statements using state pension data supplied by the Department for Work and Pensions (DWP); in Northern Ireland, equivalent data is administered by the Department for Communities. In Ireland, there is no DWP-run programme; the expression is used generically for material that combines an occupational/personal pension projection with a State Pension estimate from the Department of Social Protection. Key legal features are that the figures are estimates only, rely on specified assumptions, and are not legally binding entitlements. They aid client advice, disclosure and retirement planning but do not replace statutory annual benefit statements required of pension schemes. In practice, many UK schemes now direct members to the DWP’s online “Check your State Pension” service and to forthcoming pensions dashboards under the Pension Schemes Act 2021, which are intended to provide a consolidated view across State and private pensions.