How to get involved
Step one: The application form
Once you have decided to offer the Combined Pension Forecasting (CPF) service to your clients, the first step is to complete an application form
If you have any queries regarding the application form please contact a Customer Account Manager
Please note: Combined Pension Forecasting is a voluntary service and the information contained in the application form is not binding.
Step two: Registration/renewal certificate
Before any data is exchanged, we need confirmation that you have the written authority of your clients to disclose information to us for the purpose of pension forecasting. To give us that assurance, there is a registration certificate within the application form for you to sign and return to us. Each year we will ask you to renew this certificate to ensure our records are up to date with regard to your client list. It is also designed to minimise the risk of us exchanging data for a client you no longer represent.
Step three: The registration agreement
Once we have received your application form we will send you a registration agreement telling you what to do next.
Please note: This agreement is not binding and you can change the dates on the form by discussing them with the Combined Pension Forecasting team at any time.
Step four: The data test
When we have completed the registration agreement for your review we will ask you to send us a small sample of mock data in the appropriate format. This test run will help to ensure that we are able to read your file and convert the data.
Our request file generator will help you create the data file in the appropriate format.
Please note: The mock data should mirror the live file (National Insurance number, surname, date of birth etc) but should not contain genuine staff details.
Find out more about the data test in the Combined Pension Forecasts – technical guide
Step five: Getting your members’ consent
You need to let your client’s employees know that you intend to take part in the Combined Pension Forecasting (CPF) service and give them the chance to opt-out or opt-in. The Combined Pension Forecasting team will provide the consent letter wording to go out to employees and your client can issue the consent letters. This may be something you wish to discuss with them.
You only need to undergo this consent process once for existing recipients: after that only new scheme members will need to go through the process. If your client has previously carried out the service in-house there is no need to re-consent those members who received a Combined Pension Forecasts. However, any new schemes you sign up will need to be consented.
Please note: You need to keep a record of who has chosen to opt-out or opt-in.
Step six: Exchanging the data and issuing Combined Pension Forecasts
The next step is to send in the personal details of individuals who are happy to receive a Combined Pension Forecast. We will then work out each individual’s State Pension estimate, based on their National Insurance (NI) payment record and a projected figure assuming similar NI contribution rates up to State Retirement age, and send this information back to you.
You can opt for forecasts to be presented as weekly, four-weekly, monthly, quarterly or yearly amounts, to fit in with your own pension statements. You then issue the statements as normal but also include the State Pension information.
The Combined Pension Forecasting team provides the wording and support information for the State Pension statement and this information can be merged into your own statement format as a separate section or included as a separate sheet. In certain circumstances it can also be added to online statements.
Our reply file generator instructions will help you to convert files into Microsoft Excel and our mail merge instructions will help you merge the State Pension data into the statements.
You can also download a sample of a Combined Pension Forecast – [PDF file size 27kb]