I’m pleased to introduce the latest update from the Hanson Industrial Pension Scheme (the “Scheme”).
2023 was a year full of change and uncertainty, so now in 2024 we hope for more stability and security. The Trustee continues to work to ensure the stability of your pension by continuing to monitor the Scheme’s investments closely and take whatever actions we deem necessary to protect members’ benefits.
However, with the rising cost of living it’s important to remember that if you are feeling the pressure financially, there are resources available to offer you support. You might want to look at this page for some help and advice. At such times don’t forget that pension saving is a long-term investment and you shouldn’t make any hasty decisions.
This year you can read the newsletter articles online, where we give you updated Scheme news, along with some more general updates from the world of pensions, including detail on the changes that were announced in last year’s spring budget. Wherever you are on your retirement journey, I hope you’ll find them useful and interesting.
We completed the Actuarial Valuation, as at 31 December 2021, an activity undertaken every three years to assess the Scheme’s overall funding level. This was agreed on 22 December 2022, and I am pleased to report that the funding of the Scheme is good. We provided you with a summary last year.
Regrettably, as affected members will know, the Scheme’s administrator, Capita, was subjected to a cyber incident. Further information can be found here . Although we are not aware of any resultant fraudulent activity to date, we encourage all members to remain vigilant of any suspicious activity.
It’s important that you keep your personal details up to date, so you don’t lose touch with your pension. You can do this online via our secure member website, or get in touch with the Scheme administrators, using the contact details below:
We’re excited to announce we have launched a new version of the portal! The new platform places all the information you need at your fingertips. With enhanced security and an improved user experience, it is an easy and accessible way to view and manage your pension savings.
I’d encourage you to register for your online pension account, if you haven’t done so already. Activating your account means we can communicate with you electronically which saves paper, is better for the environment, minimises delays and goes towards reducing the costs of running the Scheme.
