IRRV Alert - week ending 21st May 2021
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Simpler annual benefit statements: draft regulations and statutory guidance (17 May 2021)
Open consultation
Simpler annual benefit statements: draft regulations and statutory guidance
- From:
- Department for Work and Pensions
- Published
- 17 May 2021
- Applies to:
- Wales, England, and Scotland
Summary
Consultation on proposed regulations and accompanying statutory guidance introducing simpler annual benefit statements for use by defined contribution workplace pension schemes used for automatic enrolment.
This consultation closes at
11:45pm on 29 June 2021
Consultation description
This consultation seeks views on the draft Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2022 and associated draft statutory guidance (which includes an illustrative template).
Together, these would introduce new requirements for the length and format of annual workplace pension benefit statements, sent to members (except those in receipt of benefits) of certain defined contribution workplace pension schemes used for automatic enrolment.
The consultation is aimed at:
- occupational and personal pension scheme providers, trustees and managers
- members of workplace pension schemes
- employee representatives
- trade unions
- consumer groups
- employers
- pension industry professionals, including scheme administrators, payroll administrators, accountants, payroll bureau, independent financial advisors, employee benefit consultants and members of the advisory community
- any other interested stakeholders
Documents
Consultation on simpler annual benefit statements: draft regulations and statutory guidance
HTML
Consultation on simpler annual benefit statements: draft regulations and statutory guidance
PDF, 138KB, 9 pages
Draft statutory guidance: simpler annual benefit statements
HTML
Draft statutory guidance: simpler annual benefit statements
PDF, 429KB, 14 pages
Draft Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2022
HTML
Draft Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations 2022
PDF, 155KB, 3 pages
Draft illustrative template: simpler annual benefit statement
ODT, 36.6KB
This file is in an OpenDocument format
Ways to respond
Email to:
pensionstatements.consultation@dwp.gov.uk
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Published 17 May 2021