To help you understand roughly what different lifestyles could cost when you retire, the Pensions and Lifetime Savings Association (PLSA) has developed the Retirement Living Standards.

These help you picture the kind of lifestyle you might want when you retire and tell you the estimated costs for three different levels: Minimum, Moderate and Comfortable.

Once you know what income you’re aiming for, you can then compare this to what you’re on track to receive from either the Uniper Group of the ESPS or the Uniper Pension Plan, plus any State Pension you’re entitled to. You can find out how much State Pension you’re currently entitled to at Gov.uk/check-state-pension.

For ESPS members, the easiest way to keep track of your ESPS pension savings is to log into your online account. You can check your pension record and view copies of your 2021 Annual Benefit Statement. This shows the pension you’ve built up and how much you’re estimated to receive from the Scheme as both a pension and lump sum if you keep paying in until your normal pension age. It also tells you what might be paid out to your loved ones if you die before taking your pension.

UPP members should go to PlanViewer and access your account. From there various options are available to view and see what you can expect to receive.

2022 ESPS annual benefit statements

The 2022 ESPS annual benefit statements will be issued in the summer. From this year onwards they will only be available in your online myESPS account, so you’ll need to register to view/print a copy.

If you are not already registered within the MyESPS portal, you will need your unique activation code. Railpen sent this to you in August 2021, but if you no longer have a copy, you can email netenquiries@railpen.com with your pension reference number to ask them to re-send it to you.

If you have any questions on the above, please contact adrian.furnell@uniper.energy