Simpler Annual Statement
EXCLUSIVE - Guy Opperman: Why we are consigning dozen-page pension statements to the dustbin
Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry
UPDATED: DWP to mandate use of simpler annual statements for auto-enrolment DC schemes
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
Simpler statements will boost engagement, says industry
Nearly two-thirds of this week’s 133 Pensions Buzz respondents believe the introduction of simpler and standardised annual benefit statements will help more members engage with their pension.
Simpler pension statements must be compulsory
The government must now bow to pressure and allow providers to choose whether to send standardised, simpler pension statements, says Baroness Ros Altmann.
Simpler annual benefit statement proposals get positive response from industry
As the DWP’s consultation on simpler annual benefit statements closes, Holly Roach looks at the industry’s response.
Pension schemes bill should be reintroduced in existing form, say respondents
Most of this week's 108 Pensions Buzz respondents agreed the pension schemes bill should be reintroduced in its exisiting form.
DWP annual benefit statement consultation questions voluntary adoption
The Department for Work and Pensions (DWP) has launched a consultation setting out proposals for the adoption and launch of simpler annual benefit statements. Holly Roach reports
Smart Pension launches simpler annual statement
Auto-enrolment (AE) provider Smart Pension has launched a simplified and standardised two-page annual statement, which members can view on its online app.
Breaking down the barriers to pensions understanding
Pensions have been seen as unfathomable for too long. George Currie says two initiatives currently underway may begin to change this perception.
PensionBee leads industry with launch of simpler annual statements
PensionBee has become the first UK pension provider to adopt simpler annual statements to improve its pension reporting to members and encourage engagement.
Simpler annual statement is a step in the right direction
The two-sided simplified annual pensions statement should be applauded, even if it missing information, says Jonathan Stapleton.
Pensions minister launches simpler annual statement
Pensions and financial inclusion minister Guy Opperman has launched a simplified two-page annual statement in a bid to provide a best practice template for the industry.
