The Mencap Pension 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 , 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 , and undertakes engagement activities with, those they invest in.

Chair’s Statement - The Chair of the trustees has to provide a statement in respect 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.

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