Each year, you'll receive a statement on the progress of your JFM Stakeholder Pension. This will give you all the information that you'll need to review your pension plan. Your annual statement will include:
A contribution summary - this will list your contributions and the amount of tax relief which has been claimed on your behalf from HM Revenue & Customs.
Valuation of the investments held in your pension - this will show the total value of investments at the start and end of the year.
An illustration of your future pension benefits - an estimate of the income which you might receive at your selected retirement date assuming that any regular contributions you make will continue to be paid until then. Your illustration will allow for the future effects of inflation. This means that you can see how much your future pension is likely to be worth in today's terms.
By comparing your estimated future pension income, as illustrated in today's terms, with your current income and everyday expenses you can decide for yourself whether your pension is on track to meet your future pension needs.