"Members don’t want to be dazzled, they just want something they can trust. So we’ve come up with the Simpler Annual Statement. It fits on two pages. It’s easy to read, it’s easy to understand – and it’s fully compliant. We hope it will also be easy for lots of schemes and employers to adopt, which will make it easy for members to compare and combine pots, to get an overall picture of where they stand."
More information on the Simpler Annual Statement can be found here
The Simpler Annual Statement has been developed collaboratively by Ruston Smith (Co-Chair of the DWP’s 2017 Automatic Enrolment Review Advisory Board and Chair of the Tesco Pension Fund), Vincent Franklin and Mark Scantlebury from communication consultants Quietroom, Karen Mumgaard and Francois Barker from lawyers Eversheds Sutherland – with the help of many within the industry.