COB 12.3.1

An Operator of a Scheme must ensure that before a person becomes a Member of the Scheme, that person is provided with the following information:

(a) the name of the Scheme;
(b) the name and address of the Operator and Administrator of the Scheme and how they can be contacted;
(c) how the person can obtain up-to-date information about the Participating Employer’s contributions in respect of the Member;
(d) a short description of:
(i) the type of investment options offered on the Investment Platform;
(ii) the investment objectives of each investment option, the strategy for achieving those objectives and any associated risks;
(iii) how detailed information relating to each investment option can be obtained, and who is responsible for providing that information; and
(iv) the comparative risk rating for each investment option, if available;
(e) how and when a Member can switch their investments;
(f) costs for which Members are responsible, with costs and charges associated with the administration of the Scheme, and the management fees and charges of the investment options offered on the Investment Platform, shown separately;
(g) whether voluntary contributions can be:
(i) made by a Member and, if so, how such contributions will be managed, including fees and charges; and
(ii) withdrawn before the mandatory contributions, and if so, any limits on the frequency and amount of withdrawals that can be made, and the fees and charges associated with withdrawals;
(h) the events upon which Member benefits are payable, and the method of calculating such benefits;
(i) details relating to how Member inquiries and complaints will be handled and the contact details for inquiries and complaints; and
(j) that the investment managers of the investment options offered on the Investment Platform are responsible for the information provided to Members relating to those investment options.
Derived from DFSA RMI261/2019 (Made 18th December 2019). [VER35/01-20]
[Added] DFSA RMI302/2021 (Made 30th June 2021). [VER38/09-21]