Given the current economic climate the Trustee is pleased that the latest actuarial valuation of the Scheme, carried out in September 2019, revealed the Scheme was in a strong funding position, which enabled the Trustee to enter into an insurance contract, known as a ‘buy in’ with Legal and General in November 2020.
Scheme merger, Wind up and Bulk annuity update
An update on a number of recent developments which are significant steps towards both securing and potentially improving your Scheme benefits for the future.
The rising cost of living
Data from the Office of National Statistics show that UK households are currently being hit by the steepest annual rise in inflation since the early 1980s.
Stay scam smart
Criminals are using ever more sophisticated methods to come between you and your money. Here’s how you can help keep your cash safe.
The Scheme’s financials
At least every three years the Trustee formally reviews the Scheme’s funding. This review is known as a Triennial Actuarial Valuation. It measures the Scheme’s assets and liabilities and shows whether the Scheme has a shortfall or is in surplus.
Each year the Trustee is required to provide you with an annual update on the funding position of the Scheme.