What is a Key Features Document?

The key features document enables customers to work out whether a specific pension scheme meets their needs and expectations, based on an understanding of the most important information regarding that scheme.

The government regulator for financial products and services, the Financial Conduct Authority (FCA), requires pension providers to summarise pension benefits, risks, and complaints procedures in an easy to understand and jargon-free way to potential customers. This is to make sure they can understand what they may be buying and keep the document safe for future reference.

All pension schemes have a key features document, which you can review before making any decision regarding your preferred pension provider.

Related terms
What is a pension illustration?
What is a Pension Statement