UK Gov't Warns Pension Providers To Simplify Statements
Law360, London (November 1, 2019, 4:59 PM GMT) -- The U.K. will introduce regulation if workplace pension providers do not simplify communications with customers, the government's pension minister warned on Friday.
Guy Opperman urged the industry to commit to giving savers clear information about their pensions — ideally on no more than two sheets of paper.
The statement comes as the Department for Work and Pensions issued a consultation on simplifying communications, with an opportunity for feedback from providers.
“Pension statements are too long, too wordy, full of jargon and confuse savers,” Opperman said. “People don’t read them, or if they do they can’t make head nor tail of them....
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!