Information packs were posted to all members on Monday 23 March, although we are aware that some of you may not have received yours yet. They are on their way to you but as the Royal Mail is struggling with double the level of absentees because of the Coronavirus, many places are experiencing delay in delivering packages that are larger than a normal envelope. This is why some of you will have received your introduction letter from WPS Advisory Ltd but not your packs. Please be assured that this does not mean they have been mis-directed or lost.

At present, the financial advice on offer is not affected by the Coronavirus. Please ‘phone WPSA if you would like a conversation about your pension options – even if you haven’t received the hard copy of your pack yet.

FIND OUT MORE ABOUT YOUR OPTIONS

Not received your pack yet?

Future Plans

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The Trustee is always looking to the future to ensure the long-term security for all members’ benefits in the Plan.  Much of this is determined by the finances – the actuarial valuation, investments and the contributions made by the Company.

Since 2016 there has been a recovery plan in place to try to reduce the deficit in the Plan.  The Company pays a significant amount towards this recovery with a commitment to pay monthly contributions of over £900k until 2024 to ensure the Plan’s stability. 

STEP INTO YOUR FUTURE

As part of this future planning, the Trustee has also been keen to give you the opportunity to plan for your future. That’s why you’ll be receiving a number of different communications from the Plan over the next 12 months.

The communication programme looks like this:

Spring

You will be sent a personal illustration which shows you what pension you will receive if you retire now and if you retire at your normal pension age and what your transfer value is.  This is so that you can plan your future finances and make decisions now that fit with your retirement plans.

Click here for more information on your options

To support you and help you make your decisions, the Trustee will be providing paid for financial advice to all deferred members until Friday 31st July 2020.

Autumn

The annual newsletter will be sent to you in Autumn. We will also update this section in future as the Trustee's plans evolve.