Model disclosure documents

The Pensions Authority (the Authority) published a series of model disclosure documents in response to submissions received to our defined contribution (DC) pensions consultation paper which indicated that the quality of member information needs to be improved considerably and made more user-friendly. These model disclosure documents communicate as clearly and meaningfully as possible the information required to be disclosed to scheme members by the Occupational Pension Schemes (Disclosure of Information) Regulations, 2006.

The following model documents can be viewed by selecting the relevant link on the left:

  • a model annual benefit statement for a DC scheme*,
  • a model annual benefit statement for a defined benefit (DB) scheme*,
  • a model leaving service options letter for a DC scheme,
  • a model leaving service options letter for a DB scheme,
  • a model retirement options letter for a DC scheme, and
  • a model retirement options letter for a DB scheme.

These documents aim to provide understandable information in a structured manner so that members can make informed decisions about their retirement savings.

*Please note that the annual benefit statement and DC Statement of Reasonable Projection requirements continue to apply 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 Regulations require the first PBS to be issued to members by 31 December 2022 at the latest. However, the Authority will not require a PBS to be prepared with an effective date earlier than 1 January 2023 provided that trustees/registered administrators continue to provide annual benefit statements and (for DC schemes) statements of reasonable projection to active members.