Model disclosure documents
The Pensions Authority has published model disclosure documents which communicate certain information required to be disclosed to pension scheme members.
The following model documents have been published:
- a model leaving service options letter for a DC scheme member,
- a model leaving service options letter for a DB scheme member,
- a model retirement options letter for a DC scheme member, and
- a model retirement options letter for a DB scheme member.
These documents aim to provide understandable information in a structured manner so that members can make informed decisions about their retirement savings.
Annual member statements
The above model documents do not include the annual member statement. Please note that trustees are required to furnish members with an annual benefit statement (ABS) including, where relevant, a DC statement of reasonable projection (SORP) until trustees issue the first pension benefit statement (PBS) to members in accordance with the European Union (Occupational Pension Schemes) Regulations, 2021 (the Regulations). The Authority will not require a PBS to be prepared with an effective date earlier than 1 January 2023 provided that trustees, in the interim, continue to provide active members with an ABS including, for DC schemes, a SORP.