We previously posted an article on the website regarding the recent news in the press about market volatility. As stated, the Trustee is closely monitoring the situation and we’d like to further reassure Pensioner members that payment of pensions will remain unaffected. If you’re yet to take your pension from... Read more...
Pensions in payment from the HP Plan are reviewed annually in April. The first instalment of your pension payable from April 2021 will be paid on 6 April 2021. If the net value of your pension differs by £1 per month or more, a paper payslip will be sent to... Read more...
Over the last couple of years the Trustee has carried out a reconciliation to ensure that the GMP element of its Plan records agree with those of HM Revenue and Customs (HMRC). This has been a complex exercise and involved a significant amount of work. The project has now been... Read more...
Given the significant and fast-moving development of the Coronavirus (COVID-19) issue, and the Government’s policy in relation to how the UK needs to react to this, we want to update you further on how we are responding to the situation. We are working closely with our Plan Administrator (Equiniti) who... Read more...
As the impact of the coronavirus is felt across the UK, we want to reassure members that looking after their pension is the Trustee’s top priority. We have been working with all our advisers to understand what plans they have in place to mitigate the potential impact on their staff... Read more...
The terms of office for all three Member Nominated Trustee Directors (MNTDs) ended in October 2019 and nominations were requested for candidates to fill these positions. The Board is delighted that Phil Lawman chose to re-apply for a third term, he first joined the Board in 2011, and he was selected... Read more...
The Equitable Life Assurance Society (“Equitable Life”) business transfer to Utmost Life and Pensions Limited (“ULP”) was completed on 1 January 2020 as planned. At their meeting on 1 November 2019, Equitable Life Policyholders voted overwhelmingly in favour of closure of Equitable Life’s With-Profits Fund and the transfer to ULP... Read more...
The High Court has recently decided a case to do with ‘Guaranteed Minimum Pensions’, (‘GMPs’). The judgement affects the Plan because some of its members’ pensions include a GMP element. The judgement confirms that pension schemes will need to provide equal benefits for men and women for pensionable service between... Read more...
You will no doubt be aware that the new data protection regulation - General Data Protection Regulation or GDPR – is coming into effect on 25 May 2018. The Trustee holds information about you, and your dependants and potential beneficiaries, which is required to manage the Plan. Therefore, the Trustee... Read more...
We say farewell to Philippa Oram who resigned as a Trustee Director with effect from 1 November 2017. We thank Philippa for her 16 years of service to the Plan as a Trustee and wish her well in her new role at the Company.