Simpler annual benefit statements: draft regulations and statutory guidance

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