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How to read a pension statement: a twenty-minute guide

The six numbers that matter and the ones you can safely ignore.

David Wells · 2 min read · 22nd September 2026

Financial planning documents on a table

A pension statement can run to several pages, but only a handful of numbers really matter. Here is how to find them and what they tell you.

The six numbers that matter

  1. Current value. What your pot is worth today.
  2. Contributions this year. What you and your employer have paid in.
  3. Charges. The total yearly cost, shown as a percentage or in pounds.
  4. Where it’s invested. The fund or funds your money sits in.
  5. Selected retirement age. The age the scheme assumes you’ll retire.
  6. Projected income. An estimate of what the pot might pay, shown in today’s money.

The ones you can usually ignore

Unit prices, transaction lists and long legal notes rarely change what you should do. Skim them, but don’t let them distract you from the six numbers above.

Worth checkingIs the selected retirement age still right for you? If it’s wrong, the projection and the investment strategy may be wrong too.

Bringing it together

Most people have more than one pension. Writing the six numbers down for each one, side by side, is often the first time the full picture becomes clear. It’s also the point where questions about consolidation, charges and investment choices start to make sense.

If you’d like a second pair of eyes on your statements, bring them to a first conversation with one of our advisers.

Last reviewed 22nd September 2026. This is for general information only and isn’t personal financial advice. Tax rules can change, and how they apply depends on your circumstances. The value of investments can go down as well as up, so you could get back less than you put in.

David Wells

Written by

David Wells

Senior Partner

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