You have the right to ask for information about how your pension is run. This includes:
- the scheme’s trust deed and rules – if the scheme is run by trustees
- the policy conditions – if your scheme is a personal pension or stakeholder pension.
If your pension is a workplace pension scheme, run by trustees, you have the right to ask for a copy of the scheme’s annual report.
The report must include:
- general information – for example, how to get in touch if you have a query about the scheme or your benefits
- financial information – including a copy of the scheme’s audited accounts and the auditor’s statement
- investment information – this is usually an investment report giving details about the scheme’s investments and their performance.
The annual report might also include the statement of investment principles. If it doesn’t, you can ask for a copy.
It sets out the guidelines the trustees follow when choosing investments for the scheme.
If your pension is a defined benefit scheme, you have the right to ask for a copy of the actuarial report.
This includes information about the ability of the scheme to meet the benefits built up in the scheme. This information is also contained in the summary funding statement. Your scheme provider has to send you this automatically every year.
You also have the right to ask for a copy of:
- the schedule of contributions (defined benefit schemes), or
- the payment schedule (defined contribution schemes).
These record the contributions the employer must pay to the scheme.