The Disclosure Regulations have been updated to include two new disclosures: one where sovereign annuities are being purchased by the trustees and the other, which will affect all schemes, is a risk statement. The risk statement (set out in Schedule M to the Regulations) must be included in disclosures to members of defined benefit schemes including in the scheme annual report, the scheme booklet, annual benefit statements, leaving service statements, on the death or retirement of a member and on the making of a pensions adjustment order. The prescribed wording of the risk statement is set out in the Disclosure Regulations and is a reminder to members that there is no guarantee that the scheme will have sufficient funds to pay the benefits promised.