Pensions minister launches simpler annual statement

The simpler annual statement ­- which has been developed by an industry-wide group including former PLSA chairman Ruston Smith; Quietroom consultants Vincent Franklin and Mark Scantlebury; and Eversheds Sutherland lawyers Karen Mumgaard and Francois Barker - came in response to the government's 2017 review of auto-enrolment (AE) and aims to "junk the jargon" and help people engage with their savings. The AE review found that, while providers and schemes send out millions of annual pension statements to people who have contributed to retirement savings schemes, less than 14% read and unde...