ao link
Reward Strategy. Incoporating Payroll World.
Hello there,

You are viewing this article as a guest, please login or register to read more. 

Government consults on two-page DC pensions statements

The government proposes pension providers must issue simpler statements in relation to certain Defined Contribution (DC) pension schemes used as part of auto-enrolment.

TwitterLinkedInFacebook

Draft rules included in a consultation published by the Department for Work and Pensions (DWP) propose two-page statements for DC pensions. These new style pension statements will be required to detail:

  • How much money a saver has in their pension plan, along with how much has been saved in the statement year;
  • How much money a saver could potentially have upon retirement;
  • How a saver could ensure that they have more money for their retirement.

The new rules are due to be implemented from April 2022 and while the consultation currently only focuses on auto-enrolment, the government intends to introduce simplicity across all schemes at some point in the future.

TwitterLinkedInFacebook
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

You might also like

Watchdog formed to reduce labour market exploitation

Watchdog formed to reduce labour market exploitation


Secure Trust Bank shifts attention to employee wellbeing 

Secure Trust Bank shifts attention to employee wellbeing 


Homeworking contributing to rising stress levels

Homeworking contributing to rising stress levels


Financial wellbeing gap widens as more people can’t save

Financial wellbeing gap widens as more people can’t save

LATEST PAYROLL AND REWARDS NEWS IN YOUR INBOX

Reward Strategy homepage
Reward Strategy RSS

Member of

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