Statutory guidance

Reporting costs, charges and other information: guidance for trustees and managers of occupational pension schemes

This guidance for occupational pension scheme trustees and managers provides information on disclosure and administration regulations.

Documents

Reporting of costs, charges and other information: guidance for trustees and managers of relevant occupational schemes

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Details

The disclosure and administration regulations require trustees and scheme managers of certain occupational pension schemes offering money purchase benefits to, amongst other things:

  • identify the levels of the pension scheme charges and transaction costs incurred by the member on each investment option
  • provide an illustrative example of the cumulative effect of those charges and costs over time
  • produce statements explaining the scheme’s investment policies and how they have carried them out
  • publish these, along with other relevant information on a publicly available website free of charge – and tell members where it can be found

Trustees and managers of the relevant occupational pension schemes must have regard to this guidance on meeting the requirements in The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 and The Occupational Pension Schemes (Scheme Administration) Regulations 1996, as amended in 2018.

We published the government response to the consultation on Occupational pensions: improving disclosure of costs, charges and investments on 26 February 2018 and the government response to the consultation on Clarifying and strengthening trustees’ investment duties on 11 September 2018.

Published 11 September 2018