The Occupational Pensions Regulatory Authority (OPRA) has today published a guidance note describing the disclosure requirements for trustees of occupational pension schemes.
The guidance note, Disclosure of information to members and others, is aimed primarily at professional advisers. It describes the legislative requirements for trustees to provide members, beneficiaries, trade unions and others with either general scheme information or with specific information about an individual's benefits or rights.
Disclosure requirements were introduced to ensure that members are aware of their benefits, of the rights relating to those benefits, and of changes that might affect their benefits directly or the pension scheme as a whole.
Professional advisers are expected to help trustees carry out their obligations to keep pension scheme members informed.
