WebOct 19, 2024 · Simpler annual benefit statements to be introduced from October 2024 - Pensions Age Magazine TfL pension fund urged to support net-zero and local investment opportunities Banking sector stress dents FTSE 350 DB funding level progress Scape discount rate update to add 'billions' to employer costs TPO upholds complaint over … WebDec 2, 2024 · The DWP’s preference is voluntary adoption of simplified Statements. However, it does also seek views on whether it should mandate an approach to simplified Statements through statutory guidance. The consultation also seeks views on two amendments to the Occupational and Personal Pension Schemes (Disclosure of …

PensionBee simplifies Annual Benefit Statement

4. The purpose of this guidance is not to restate the legal requirements for those trustees or managers of schemes that fall within the scope of the 2024 Regulations, but … See more 14. For occupational pension schemes, the Pensions Regulator (TPR) monitors and enforces compliance with legislation and provides practical guidance about what trustees or managers need to do. The Department for … See more 8. This guidance will be reviewed at intervals not exceeding 5 years to coincide with the review of the 2024 Regulations, and may be updated … See more 13. This guidance is Statutory guidance published under section 113(2A) of the Pension Schemes Act 1993. See more WebOct 19, 2024 · Making pension statements simpler by drawing members to three key areas which include how much money do they have in their pension pot? How much money could they have when they retire? green eyed idol to the north of kathmandu

DWP forces AE schemes to adopt “simplified” annual statement

WebOct 21, 2024 · Simplified pension statements on the horizon. 21 October 2024. The Department for Work and Pensions (DWP) has confirmed, in its response to the consultation it published on the topic of simpler annual statements, that although shorter and simpler statements are ambitions for schemes, the majority of them have not voluntarily adopted … Webelect to include as part of an annual benefit statement (“the simpler annual benefit statement”), in a format that does not exceed one double-sided sheet of A4 paper when … WebApr 20, 2024 · We ask DWP to legislate to ensure that all providers send out digital-by-default, standardised, simpler annual statements including pounds and pence charging. No statement should be sent by post unless a member specifically requests it. More transparency in pensions will lead to consumer empowerment and increased competition … greeneyedinspiration