Remember, taking your benefits from the Plan is an important decision — perhaps one of the most important decisions you’ll make — so you should not only prepare as early as possible, but also you may wish to consider taking independent financial advice. 

If you’re currently receiving a pension from the Plan, you should have received a pack through the post relating to Guaranteed Minimum Pension (GMP) Equalisation.

If you’re a deferred member of the Plan, your pension may continue to increase each year in line with Trust Deeds and Rules.

Retirees trying to achieve a basic standard of living will have seen their expenditure increase over the last year due to high inflation.

If you paid Additional Voluntary Contributions (AVCs), these are held in a separate account and can be used to provide additional benefits at retirement.

Receiving communications digitally from the Plan is safer, more dependable, and better for the environment — and we’ve made it even easier to sign up. When you subscribe, you’ll receive our regular Pension Bytes emails, which give you updates on the Plan and pension industry news.

You may have heard the term ‘Liability Driven Investments (LDI)’ in the press recently and be wondering how it affects this Plan and your pension. We thought it would be useful to explain a little about what LDI is and why the Plan uses it as part of its investment strategy to manage its funding...

Did you know that if you are suffering from serious ill-health, you may be able to take all of your benefits in the Plan as a single lump sum? This is known as a ‘serious ill-health lump sum’ (“SIHLS”) and may be available if a registered medical practitioner has confirmed that you are expected to...

We've updated the Plan's Summary Funding Statement at October 2022. Here you can read the results along with comparisons to previous years.