Respondents, almost en masse, noted that current mandatory communications are too long and complex, with concerns that consumers might become disengaged. There were calls for a review to remove jargon, improve the language, and rationalise the requirements.
TPR will review its DC code-related guidance on 'communicating to members' to provide more information on inclusivity, use of behavioural insights, and timing of communication.
TPR has also committed to conducting an equality report to understand how well the market works for different groups of people to inform regulatory responses, publicise Midlife MOT toolkits available for employers and encourage larger schemes/providers to provide support, and work with the Money and Pensions Service to produce guidance to help employers support staff returning to work.