Reporting costs, charges and other information: guidance for trustees and managers of occupational pension schemes

Date published: 04 November 2021

This guidance for occupational pension scheme trustees and managers provides information on disclosure and administration regulations. This guidance is effective from 1 October 2021.

The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 2014 (“the Disclosure Regulations”) and the Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997 (“the Administration Regulations”), as amended in 2018, require trustees and scheme managers of certain occupational pension schemes offering money purchase benefits to, amongst other things:

  • identify the levels of the pension scheme charges and transaction costs incurred by the member on each investment option
  • provide an illustrative example of the cumulative effect of those charges and costs over time
  • produce statements explaining the scheme’s investment policies and how they have carried them out
  • publish these, 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 requirements in the Disclosure Regulations and the Administration Regulations. They must also have regard to the guidance effective from 1 October 2021 in respect of these regulations, and the amendments made to them by The Occupational Pension Schemes (Administration, Investment and Charges and Governance) (Amendment) Regulations (Northern Ireland) 2021

You can access the statutory guidance that was effective to 30 September 2021 here.

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