Consultation outcome

Simpler annual benefit statements: draft regulations and statutory guidance

Applies to England, Scotland and Wales

This consultation has concluded

Download the full outcome

Detail of outcome

This government response provides a summary of the responses received to the consultation on Simpler annual benefit statements: draft regulations and statutory guidance, and the next steps.

Original consultation

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 ran from
to

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

Published 17 May 2021
Last updated 19 October 2021 + show all updates
  1. Added government response to simpler annual benefit statements consultation.

  2. First published.