Providers could save £74.6m a year by communicating all information with pension savers online, under government proposals.
In a Department for Work and Pensions (DWP) consultation, the government proposed allowing pension providers to ditch all paper-based communications with members.
The move is part of a consultation to streamline communication requirements across all private pension schemes by October 2013.
Pension schemes with lifestyling face a new requirement to disclose information to members when funds are being moved into low-risk bonds and cash as they approach retirement - which could cost them on average £47,000 a year.
The DWP said stakeholder pensions are already required to inform members about lifestyling, but not defined contribution schemes and personal pensions.
The consultation said: "If the member is made aware that lifestyling takes place at a certain age, they could advise the scheme of their intention to retire at a later date and then take advantage of a longer period of equity investment."
Target date funds - where members funds are intended to reach investment goals by a certain year - would be included in this provision.
The proposed legislative amendments would also consolidate the main set of disclosure regulations and relax the rules on how statutory money purchase illustrations are calculated.
The consultation, The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, will close on 14 April.
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