Trustee statement — recent extreme market movements

You may have seen reports in the media regarding The Bank of England’s intervention to secure pension schemes and calm borrowing markets.

We would like to reassure you that the Trustee is monitoring the situation closely for any potential impact which this may have on the Plan and Defined Benefit section members.

We’d like to further reassure Pensioner members that payment of pensions will remain unaffected.

We’d remind DC members that pensions are a long-term investment, and it’s important not to react hastily to short-term market movements. The increased market volatility is, however, a reminder to review your pension investments and whether they remain on track to meet your retirement objectives.