Scheme Information
HIPS Defined Benefit (HIPS DB) Section – This is a long standing Defined Benefit scheme that was formed in 1973 and has merged in several other defined benefit schemes (some which date from the 1950s).
This scheme now has 20 sections with multiple benefit structures.
The DB section closed to new entrants in June 2002 with the formation of the Defined Contribution section.
HIPS DB closed to future defined benefit accrual in September 2010.
The Hanson Industrial Pension Scheme is governed by a Trust Deed and Rules as amended from time to time. The provisions of the Scheme are summarised in a Member Guide which is issued to all members when they join the Scheme and updated from time to time. If there is a conflict between the Member Guide and the Trust Deed and Rules, the Trust Deed and Rules prevail.
Statement of investment principles for the Hanson Industrial Pension Scheme
Implementation Statement, covering the year from 1 January 2022 to 31 December 2022
Frequently Asked Questions
This FAQ Information Leaflet sets out responses to the questions most frequently asked by members of the final salary section. If there is conflict between this information leaflet and the Trust Deed and Rules, the Trust Deed and Rules prevail.
Forms
A death benefit lump sum may be payable following your death. Completing an Expression of Wish form allows you to tell the Trustee(s) of the Scheme how you would like any lump sum death benefit to be distributed.
The Trustee(s) will take account of your form, but are not bound by it. Your Expression of Wish form should be updated to reflect changes to your current circumstances, for example, if you marry, divorce or have children.
