Statutory Guidance: Simpler Annual Pension Benefit Statements
Date published:
The purpose of this Guidance is not to restate the legal requirements for those trustees or managers of schemes that fall within the scope of the 2022 Regulations, but instead to help trustees or managers understand how to meet them where they apply.
From 1st October 2022 the Occupational and Personal Pension Schemes (Disclosure of Information) (Statements of Benefits: Money Purchase Benefits) (Amendment) Regulations (Northern Ireland) 2022 (“the 2022 Regulations”) introduce new requirements for the trustees or managers of defined contribution pension schemes that provide money purchase benefits only and that are used for automatic enrolment (“automatic enrolment schemes”). The 2022 Regulations amend the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 2014 (“the Disclosure Regulations”) to reflect the new requirements.