The Mencap
Pension
A pension is money you get when you are older to pay for the things you need. You can pay money into your pension when you are working so there is more money for when you are older.
Plan (“the Plan”) is a hybrid scheme with a defined benefit (DB) and defined contribution (DC) sections. The DB section is closed to new entrants on 1 April 2002 and to future accrual on 31 March 2009 and is administered by XPS. The DC section commenced on 1 April 2002 and is administered by Aegon.
Based on pension legislation, the trustees are required to publish the following documents.
Statement of Investment Principles (SIP) - The SIP sets out the Plan’s investment
strategy
A strategy is a plan to show what an
organisation
An organisation are a group of people who work together.
, or a person, wants to do and how they are going to do it.
, investment policies, and investment objectives of the Plan for both sections. The expanded legislation required the SIP to include the Trustee policies on how it takes account of Environmental Social and Corporate (ESG) considerations when setting investment strategy and how it exercises voting
rights
Rights are the things everyone should be allowed to do like have a say, or go to school.
, and undertakes engagement activities with, those they invest in.
Chair’s Statement - The Chair of the trustees has to provide a statement in
respect
Respect means showing someone you think about someone's feelings, wishes or rights.
of the DC Section about the costs and charges that apply to the Plan. The statement also provides information about how the investment options available through the Plan are managed.
Implementation Statement – The regulations also require Trustees to produce a statement setting out (amongst other things) how the Trustee has followed the SIP over the year, and in particular how it was implemented its policies on the exercise of voting rights attaching to its investments and engagement activities.
Internal Dispute Resolutions Procedure (IDRP) – Pension Regulations also require pension schemes to have a IDRP which together with the application form is set out below.
How can I access my pension online?
- Members of the DB Section of the Plan can access their pensions online at:
https://login.mypension.com/public/login/ - Members of the DC Section of the Plan can access their pensions online at:
https://lwp.aegon.co.uk/targetplanUI/login