Communications
Communications
What other communications will I receive?
Day-to-day enquiries about the Scheme can be referred to the Group Pensions team at Friars Street, Ipswich (by ringing 01737 230495 or emailing WPS@willistowerswatson.com
). In addition you will normally receive three annual documents to give you information about the management of the Scheme and your own benefit entitlements. These three documents are:
Trustee's Report.
Each year, the Trustees produce an annual report on the progress of the Scheme including a copy of the audited accounts. A summary of this report is then issued to all members of the Scheme. Please click here if you would like to see a copy of the latest version.
A copy of the full report and accounts is available by clicking here.
The full report outlines amongst other things:
- the accounting policies adopted by the Scheme;
- the financial statements for the Scheme showing the Scheme's assets at the beginning and the end of the year;
- details of the Scheme's investments by type, location and major holdings;
- a statement by the Scheme Actuary covering the security of the benefits under the Scheme and
- a list of the Directors of the Trustee Board during the Scheme year.
Annual Benefits Statement
We will provide a current Annual Benefits Statement to all current employees who retain active membership of the Scheme. This will be available online via employees' My HR records here.
When you are about to retire or you leave the Scheme you will automatically receive a statement setting out the benefit options available to you.
Deferred Benefits Statement
Members who have already left active service and become deferred members of the Scheme can request a Current Deferred Benefits Statement by contacting the Pension team in Ipswich by calling 01737 230495 or emailing WPS@willistowerswatson.com. When you are about to retire you will automatically receive a statement setting out the benefits and options available to you.
Summary Funding Statement.
We are now required to issue a separate annual Summary Funding Statement to all active, deferred and retired members of the scheme, detailing the current funding position of the pension scheme in accordance with the most recent actuarial valuation. This is incorporated into the Summary Report & Accounts issued to all members.
What do I do if I have a complaint or grievance about the Scheme?
A copy of the complaints procedure can be found here.
If I leave the Group will I be able to trace my benefits?
The Trustees have given details of the Scheme to the Pension Tracing Service. This service helps people trace the whereabouts of their pension benefits if they lose contact with a previous employer. The Tracing Service holds details of the names of the schemes, participating employers and the addresses at which they can be contacted. Schemes are required to update their registration on a regular basis.
This tracing service is free. If you have been unable to get in touch with a previous scheme and want to use the tracing service, you should contact the Pension Tracing Service, The Pension Service 9, mail handling site A, Wolverhampton WV98 1LU or by telephone on 0800 731 0193 (from outside the UK: +44(0) 191 215 4491)
Who regulates the Pension Scheme?
The Pensions Regulator monitors the running of occupational pension schemes. They can intervene in the running of schemes where trustees, employers or professional advisers have failed in their duties.
