The proposed Statutory Rule the Occupational and Personal Pension Schemes (Disclosure of Information) (Statements of Benefits: Money Purchase Benefits) (Amendment) Regulations (NI) 2022 amends the Disclosure Regulations by introducing a new requirement on trustees or scheme managers of DC pension schemes used for automatic enrolment, so that a statement given to members informing them of their pension savings must not exceed one double-sided sheet of A4-sized paper when printed, and the equivalent if printed from an online statement.
This is to enable members in automatic enrolment schemes to better engage with their pension savings through a short, simple document which can help increase their awareness and understanding of their pension savings.
Exisiting/Revised/New: Revised
Date of Screening: 09/09/2022
Screening Outcome - Full EQIA recommended: No
The Occupational and Personal Pension Schemes (Disclosure of Information) (Statements of Benefits: Money Purchase Benefits) (Amendment) Regulations (Northern Ireland) 2022