Cost and charge reporting: guidance for trustees and managers of occupational schemes

The regulations require trustees and scheme managers of certain occupational pension schemes offering money purchase benefits to, amongst other things:

• provide an illustrative example of the cumulative effect of the pension scheme fund charge and transaction costs incurred by the member;
• publish this, along with other relevant information on a publicly available website free of charge – and tell members where it can be found.

Trustees and managers of the relevant occupational pension schemes must have regard to this guidance on meeting the legislative requirements. This guidance was superseded by new guidance from 1 October 2021.  You can access the new guidance here.

Read The Occupational Pension Schemes (Administration and Disclosure) (Amendment) Regulations (Northern Ireland) 2018.