Pension Statement Explainer

Your pension statement arrives, you skim the big number at the top, and you file it without understanding a word of it. Paste the figures in and you get plain-English answers: what each line means, whether the projected retirement income is realistic on your current contributions, and whether you ought to be paying in more. Useful when you're old enough to care but young enough to act.

My pension statement shows: {STATEMENT_DETAILS}. I am {AGE} years old and plan to retire around {RETIREMENT_AGE}.

Explain what the key figures on this statement mean in plain English. Tell me whether the projected retirement income looks realistic given current contributions and assumptions. Explain what the different growth rate projections mean. Tell me whether I should be contributing more, what the employer match situation is, and one thing most people do not check on their pension statement that could significantly affect the outcome.