Information about Pension forecasts
A pension forecast will tell you what kind of income a pension will yield in retirement. This can be requested from various pension schemes, whether they are private, company-based or the State Pension.
A State Pension forecast can be obtained via the Department for Work and Pensions (DWP) website. If you are contributing to a company-based pension scheme, you are entitled to ask the company directly for your pension forecast. Personal pension providers can also be queried in a similar way.
Any pension forecast you receive will be based on a number of assumptions, and is a prediction rather than a guarantee. A number of factors such as your income, inflation or investment growth can change over a number of months or years. Obtaining new forecasts is advised should you think they are necessary.
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