Earlier this year, we wrote to all members of the Hewlett-Packard Retirement Benefits Limited Plan (the Plan)

The Trustee wrote to certain members in May to explain that: we need to address a historical inequality arising from legislation, relating to some Guaranteed Minimum Pension (GMP) benefits in the Plan; and that to do sowe proposed to convert all GMPs into a different form of pension – ensuring that there was no reduction...

Each year the Trustee produces the Plan’s Annual Report and Financial Statements. You can view the full document in the Library section. Here's a summary of the key information.

It’s important to plan early. Did you know that you may be able to start receiving your pension benefits from the Plan from age 55?

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.