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