The Trustees are responsible for making sure the Plan offers good value for members. Once a year, a ‘Value for Members’ assessment is carried out by the Trustees’ independent adviser, Lane Clark & Peacock LLP (LCP).
Every year, the Trustees’ independent advisers LCP carry out a check on the value for members of the Plan. It looks at things such as:
Whether investment fund costs and charges are competitive and how they compare with similar plans with a similar mix of investments.
How well run the Plan is and whether benefits are paid accurately and on time.
The level and type of communications and support available to members to help them make informed decisions about their retirement savings.
The range of investment options offered to members and whether they reflect the retirement options available, enabling members to align their investment choices with their retirement goals.
How frequently the Trustees monitor the performance of their advisers and providers.
Find out more
Read the full Chair's statement