Chair’s message

I’m pleased to introduce the latest update from the Hanson Industrial Pension Scheme (the Scheme).

We’ve experienced another year of change and uncertainty. In the UK, we’ve seen a new government and its first budget, which introduced new legislation - some of which could have an impact on pensions. In addition to this, recent actions by the US Government, including tariff policies, have led to increased market volatility. While such fluctuations can be concerning, it's important to remember that your Defined Benefit (DB) pension is designed to provide stable and predictable retirement income. The Trustee will continue to monitor any announcements from the Government and take any actions we feel are necessary to protect members’ benefits.

It's important to keep your personal details up to date so you don’t lose touch with your pension. The quickest and easiest way to do this is online. Alternatively, you can get in touch with the Scheme administrator using the contact details below:

Alternatively you can call or write to us at:

Tel: 0345 600 0591

Post:
Hanson Industrial Pension Scheme
Capita Pension Solutions
PO Box 555
Darlington
DL1 9YT

As you may know, the Scheme’s administrator, Capita, was subjected to a cyber incident in 2023. Whilst we’re not aware of any resultant fraudulent activity to date, we decided to extend the credit and internet monitoring services via Experian for a further 24 months for affected members. Experian is one of the UK’s leading credit reference agencies. For those who’ve not signed up for this service previously, it can help alert you to any suspicious activity that may affect you.

The Trustees are continually looking at ways to improve the support and services available to you. In 2024 LV= were introduced, offering support to members with their retirement planning and helping them to understand their options at retirement. They can also provide independent financial advice for members and give a ‘whole of market’ overview of the options available.

For members still working for Heidelberg and who are approaching retirement, the company offers the opportunity to attend a retirement workshop. Retirement planning can be complex, so these sessions enable employees to understand what they have and what they need to do as they near retirement. The workshops have received really positive feedback, and the company is working to provide these again this year. If you’re eligible to attend, you’ll be invited by HR or your manager.

We’ll soon have an exciting opportunity for eligible members to apply for a position on the Trustee board as a Member Nominated Trustee Director. We’ll be in touch with more information about this in the coming months.

The most effective Trustee Boards are made up of people with diverse skills, experiences and perspectives. You don’t need to be a pensions expert to become a Trustee and there is no minimum requirement for years you have worked at Hanson. You could help to make a meaningful difference for members and their families.

Finally, you may be aware that there was another pension scheme within the Heidelberg Materials Group called the No. 2 Pension Scheme. The Trustee and Heidelberg Materials decided to merge this scheme into the HIPS Defined Benefit Scheme. While this does not impact your benefits, we wanted to keep you informed of this change.

Yours,

Mike Smaje
Chair, HIPS Trustee Board