Source · Select Committees · Work and Pensions Committee
Recommendation 29
29
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.
Paragraph Reference:
115
Government Response
Not Addressed
HM Government
Not Addressed
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.