The State Pension
Being a member of the Plan does not affect your right to a State Pension. As long as you have paid enough National Insurance Contributions, under the current legislation, you will receive a State Pension from State Pension Age.
For more details about the State Pension, please vist the Government's website: www.gov.uk
The Trustee - Carillion Pension Plan Trustees Limited
The Plan is set up under a Trust and its assets are legally separate from those of the Company. The Plan is managed by an independent Trust Company, Carillion Pension Plan Trustees Limited.
There are currently up to eight Directors under the Trust Company, four of whom are nominated and selected by the Plan membership and four of whom are nominated by Carillion plc. The current company nominated Directors are Richard Tapp (Chairman), Dean Smith, Sally Spencer and one vacancy (tbc). The current member nominated Directors are Steven Brunswick (re-elected 2 October 2017), Caroline Hooton (elected 2 October 2017), Geoff McCullough (re-elected 2 October 2017) and Ian Simmonds (elected 2 October 2017). The current Secretary to the Trustee is Peter Clarke.
All of the Directors have access to specialist training and the Trust Company has appointed professional advisers to assist with the management of the Plan - an auditor, investment adviser and solicitor - and a pensions administration company, who regularly attend the Trustee meetings. The Trustee normallly meets four times a year and has an Investment Sub-Committee, which also normally meets separately four times a year and is currently Chaired by Dean Smith.
The Trustee is registered with the Information Commissioner's Office and is a Data Controller under the Data Protection Act 1988. The Trustee has a legal obligation and legitimate interest to process and retain data relating to you for the purpose of administering and operating the Plan and paying benefits (including when required personal sensitive data). This may include passing on data about you to the Plan's auditor, administrator and other third parties as may be necessary for the administration, investment and operation of the Plan.
The Trustee may be contacted at the following address: Carillion Pension Plan Trustees Limited, Carillion House, 84 Salop Street, Wolverhampton WV3 0SR.
Annual Report & Chairman's Statement
Every year the Trustee as required by law produces an annual report and accounts setting out the Plan's financial position and how the investments have performed. You can ask the Plan administrator, JLT, for a full copy of the report and accounts, which includes the Chairman's Statement for the year covering the governance arrangements for the Plan, inlcuding the statutory "value for members" assessment and disclosure of investment charges under the Plan. A summary of the report and accounts is also issued to all members in an annual newsletter.
Currently hard copy benefit statements are issued annually in June each year by the Plan administrator. The statements confirm the contributions paid during the Plan Year (which is normally the Pension Input Amount for the Plan) and the Account value at 1 April and current investment choices. However, members can view details of their Account at any time on the member secure site (log-in required): https://ama.jltgroup.com
Fund Fact Sheets
Fund Fact sheets setting out more
details on the funds, the managements costs, benchmarks and
performance are available on request from the Plan administrator.
An annual investment newsletter is also issued to all
Statement of Investment Principles ("SIP")
The Trustee maintains a Statement of Investment Principles ("SIP") setting out the principles around the investment decisions they have reached after taking advice from a qualified person and on the governance arrangements around them. A copy is available on request from the Plan administrators, JLT.
Your Plan benefits are personal to you. You cannot charge, assign or otherwise dispose of them to anyone else. If you try, you may forfeit them.
If you leave your employer owing money as a result of any criminal, negligent or fraudulent act or omission by you, what you owe may be recovered from your account.
Future Amendments to the Plan
Although the Trustee is responsible for the management of the Plan, the benefits and contributions offered to employees are determined by the Company as part of their Reward strategy.
The Company has the right, with the consent of the Trustee, to make changes to the Plan. The Company also has the right to end the Plan at any time by giving written notice to the Trustee. If this happens, benefits will be paid to the members according to the Trust Deed and Rules.
A copy of the Trust Deed and Rules is available on request from the Plan administrators, JLT.
Disputes are rare and hopefully normally resolved quickly. If you do have a complaint or dispute about the Plan, you should raise it with the Secretary to the Trustee first. In most cases, a simple explanation is enough to resolve the dispute. If you are unhappy with the Secretary's explanation, you can use the formal complaints procedure. You can ask the Secretary for a complaints form, which explains how to make a complaint. The Secretary will then normally give you a written reply within two months of receiving your completed form. In some circumstances, the two month deadline can be extended, in which case you will be told.
If you are not happy with the Secretary's written reply, you can appeal to the Trustee. Details of how to do this will be sent with the written reply.
You can contact the Secretary by writing. Please address letters to the Secretary to the Carillion Pension Plan at Carillion House, 4th Floor, Salop Street, Wolverhampton WV3 0SR.
Other Sources of Help
The Pensions Advisory Service (TPAS)
TPAS is available at any time to assist members and beneficiaries with any pension's query they may have, or any difficulty which they have failed to resolve with the Trustee.
You can contact TPAS at:
11 Belgrade Road
London SW1V 1RB
Phone: 0845 601 2923
Fax: 020 7233 8016
The Pensions Ombudsman
If TPAS cannot resolve a complaint, you can take it to the Pensions Ombudsman, who can be found at the same address as TPAS. The Ombudsman has the power to investigate and determine any complaint or dispute of fact or law in relation to an occupational pension scheme. You must approach the Pensions Ombudsman within three years of the issue over which you have a complaint and his decision is legally binding.
Phone: 020 7834 9144
Control Version: 30 November 2017