DWP consults on simpler benefit statements for DC pension savers
Increase understanding
Ingram: "A statement on its own is unlikely to be sufficient."
Pensions and financial inclusion minister Guy Opperman has today proposed regulations to introduce simpler workplace benefit statements so that members can better understand them.
The draft rules under consultation, open from 17 May until 29 June, would introduce requirements in April 2022 for the length and format of annual statements sent to certain defined contribution (DC) schemes...
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