The Scheme has a total of five Trustees:
The Trustees work with a range of professional advisers to ensure that the investments, administration of your benefits, communication and financials are all well run.
Details of the Trustees and their advisers, the audited accounts and a funding update are published every year in the newsletter and financial report which you can find in Documents.
It’s hoped that you won’t have a reason to complain about your pension benefits in the Scheme, or the service you receive from the Company or the Scheme Administrator. However, if an issue arises, you should first take the matter up with the Senior Manager Compensation and Benefits who will attempt to resolve it informally.
If your complaint can’t be resolved in this way and you’re dissatisfied, you may follow the formal complaints procedure. This is known as the Internal Dispute Resolution Procedure (IDRP) and it has two stages. The full procedure along with the forms you need to complete at each stage can be downloaded here.
Please write to the Senior Manager Compensation and Benefits using the official form and include the subject of your complaint, an outline of the facts and the following personal details:
You should expect a written reply within two months or you’ll be informed of why there’s a delay and when you can expect a reply. You may want to have someone represent you in making your complaint and they will need to supply their name and address along with your personal details as above.
If you disagree with the reply you receive at Stage 1, you may write direct to the Trustees within six months asking for the complaint to be reconsidered by using the form in the 'How to complain' document.
When they receive the appeal the Trustees will acknowledge receipt and confirm when you can expect to get a response. A decision will be made within two months of receiving the appeal. If a full decision can’t be reached within this timeframe you’ll be notified in the same way as in Stage 1.
If you have a complaint about the Scheme that can’t be resolved by the Scheme Administrator, the Company or the Trustees, you have the right to refer your complaint to The Pensions Ombudsman free of charge.
Write to: 10 South Colonnade, Canary Wharf, London, E14 4PU
Email: enquiries@pensions-ombudsman.org.uk
Call: 0800 9174487
You can get more information on their website.
The Company and the Trustees reserve the right to change the Scheme or to discontinue it any time (subject to the Trust Deed and Rules). You’ll be given notice and some changes would require consultation with members
Any attempt to use your benefits in the Scheme as security for a loan would result in your benefits being forfeited. However, at their discretion, the Trustees may be able to pay the benefits to you, your spouse, registered partner or children.
Every attempt will be made to trace members of the Scheme where the Trustees no longer have up to date contact information. Any benefits which have not been claimed within six years from the date they were due to be paid from the Scheme will be forfeited and held by the Trustees for the benefit of the Scheme.
You can update your address at any time by logging in to My pension portal.
In certain circumstances your benefits may be reduced if the Company has suffered any financial loss as a result of your criminal, negligent or fraudulent action or omission. This would not affect any benefits transferred from another Scheme.
The Courts have a legal duty to consider the value of your benefit rights in the Scheme when making a financial provision order on divorce. The Trustees must comply with this. Where benefits are shared between a couple on divorce, the person receiving the benefits can apply to HM Revenue & Customers to have a higher Lifetime Allowance.