The SORP may be contained in which document for DC schemes?

The SORP may be contained in which document for DC schemes?

• A. Annual Benefit Statement
• B. Annual Report
• C. Audited accounts
• D. Disclosure Statement

Answer: (A)

The SORP provides the guidelines for how pension information should be reported and presented. For defined contribution schemes, the document that is issued annually to each member detailing their individual benefits, contributions, and projected outcomes is the Annual Benefit Statement. This is the member-facing communication that is aligned with standardized disclosures, so it’s the most natural place for SORP-style information to be included. The broader Annual Report or Audited accounts are scheme-wide financial statements intended for trustees and regulators, not the per-member disclosures that the SORP governs. A Disclosure Statement serves a different, separate purpose. So, the annual benefit statement is the document where SORP disclosures are typically contained for DC schemes.

The SORP provides the guidelines for how pension information should be reported and presented. For defined contribution schemes, the document that is issued annually to each member detailing their individual benefits, contributions, and projected outcomes is the Annual Benefit Statement. This is the member-facing communication that is aligned with standardized disclosures, so it’s the most natural place for SORP-style information to be included. The broader Annual Report or Audited accounts are scheme-wide financial statements intended for trustees and regulators, not the per-member disclosures that the SORP governs. A Disclosure Statement serves a different, separate purpose. So, the annual benefit statement is the document where SORP disclosures are typically contained for DC schemes.