Source · Select Committees · Work and Pensions Committee
Recommendation 29
29
Accepted
Paragraph: 115
The simpler annual pension statement will require schemes to show information to members in a...
Conclusion
The simpler annual pension statement will require schemes to show information to members in a consistent way across the industry. We welcome the simpler annual pension statement and believe it will be particularly beneficial to people with many pension pots.
Government response summary AI-generated
The government has recently introduced Regulations to make Annual Benefit Statements for defined contribution schemes simpler and easier to understand.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
115
Government Response
Accepted
HM Government · verbatim extract
Accepted
We have recently introduced Regulations to make Annual Benefit Statements for defined contribution schemes used for automatic enrolment much simpler and easier for members to understand. This will help increase engagement with pensions, and prompt people to seek further information and guidance.
Read the full response on Parliament ↗