This may generate some queries from trustees looking to you for support to help them meet their responsibilities.
This mailing follows on from our mailing in December 2015 to remind trustees of their new legal responsibilities and give them more information to allow them to take action. We also flagged up the new legislation to trustees as part of the pensions flexibility mailing in June 2015.
|Timeline for the mailing|
Mon 21 March
Tue 22 March
There’s a new emphasis on trustees -assessing the value of costs and charges borne by scheme members relative to the benefits they receive. To help trustees with this we reviewed our workplace pensions to assess our own view of the value for money we provide. Trustees may wish to take account of this when forming their own views.
We confirmed the outcome of our value for money review of Retirement Solutions schemes in December. And we’ve now completed the value for money review for Crest Secure and Crest Growth plans.
1 Returns assessed based on the Compound Annual Growth Rate (CAGR) over 3, 5, 10 and 15 years to 31 January 2016.
Trustees should refer to the scheme summary we enclosed with the letter we sent them in December 2015 for details about the specific charges applying to their Crest plan.
To find out more about the outcome of the reviews read our Trustee mailings questions & answers.
Additional information on the new responsibilities for trustees
Refers trustees to their new responsibilities on page two.