Annual benefit statement for a DC scheme
Instructions for use – annual benefit statement for a defined contribution scheme
- The model document under 'Related File(s)' below is a sample annual benefit statement for a defined contribution scheme. Information will need to be tailored to the particular scheme/member and you may wish to amend the layout or add additional information that you feel is useful for the member, for example, some providers may wish to also show a projection of expected benefits were the member to make additional voluntary contributions (AVCs).
- Where figures are used, they are for illustrative purposes only.
- The model document contains endnotes which provide further information for the person preparing the benefit statement only. These deal with:
- information to be given where a pension adjustment order is in place
- value of fund and projections
- transfer values
- death benefits
- any differences between contributions paid and the net amount invested
- integration with the State pension (contributory).
While the Authority considers that this sample benefit statement has been prepared in accordance with the relevant legislation at 29 September 2014, anyone preparing an annual benefit statement should satisfy themselves that the information they give is compliant with the applicable legislative requirements.