LinkedIn page
0 £0.00
This item was added to your bag
Reward Strategy. Incoporating Payroll World.

Simpler annual statement launched

Pensions Minister Guy Opperman recently launched a simpler annual statement at the Pensions and Lifetime Savings Association (PLSA) Annual Conference.

TwitterLinkedIn
The statement will help providers give savers just the key information they need
The statement will help providers give savers just the key information they need

The simpler annual pension statement has been produced by former PLSA chair Ruston Smith, in his capacity as an adviser to the government on its review of automatic enrolment. Input was also received from the pensions industry - including the PLSA.

 

The aim of the statement is to help pension schemes and providers give savers just the key information they need, presented in plain English and with more consistency.

 

Commenting on the statement, Nigel Peaple, PLSA director of policy and research, said:

“The simpler annual statement provides a refreshingly clear way of helping people better understand their future finances. Currently, some pension annual statements are far too lengthy and complicated, and we know from our own research that half of people don’t understand them.

 

“The simpler annual statement, together with the pensions dashboard and the retirement income targets we are developing, will help savers have a much clearer idea of what they have saved for retirement and whether they are on track to live the lifestyle they want. We will continue to work with the industry to improve pensions communications and engagement and help more people get a better income in retirement.”

 

The simpler annual pension statement can be downloaded here.

TwitterLinkedIn
Add New Comment
LoginRegister

You might also like

Reports of Amber Rudd to return to cabinet as work and pensions secretary

Reports of Amber Rudd to return to cabinet as work and pensions secretary


CIPD: “Pendulum has swung away from the UK as an attractive place”

CIPD: “Pendulum has swung away from the UK as an attractive place”


EU citizens' rights to stay protected in no-deal Brexit

EU citizens' rights to stay protected in no-deal Brexit


Government launch CDC pension schemes consultation

Government launch CDC pension schemes consultation

LATEST PAYROLL AND REWARDS NEWS IN YOUR INBOX

Reward Strategy homepage
Reward Strategy RSS

Did you find our website useful?

Thank you for your input

Thank you for your feedback

reward-strategy.com - an online news and information service for the UK’s payroll, reward, pensions, benefits and HR sectors. reward-strategy.com is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Reward Strategy is committed to diversity in the workplace.
© Copyright Shard Financial Media Ltd