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Focus of disclosure rules to be changed

In a move that seems to have conflicting consequences, the government is replacing the current rigid time limits on the disclosure of pension scheme information with a new, more flexible standard, while at the same time introducing compulsory annual benefit statements for defined-benefit (DB) schemes. Although separate consultation papers* setting out details of the proposals have been published by the Department for Work and Pensions (DWP) and the Pensions Regulator, they are closely related.