This site deals with the Fund’s defined benefit (“DB” or final salary) pensions.
If you are (or were) in the Robinson money purchase (“MP”) scheme (i.e. you started a Robinson pension after 1997), then you can access your pension fund using the link provided to you to the Legal & General MasterTrust website.
If you are a member of the Fund, you will fall into one of two categories:
FUND MOVES TO SECURE PENSIONS WITH INSURANCE COMPANY
The Group and the Fund trustees have long shared an ambition to achieve a buy-out of the liabilities when market conditions allow. As market yields rose in 2022, this has driven the cost of buying annuities down resulting in the buy-out ambitions being affordable.
On 7 December 2022, the Fund purchased a bulk annuity insurance policy from Legal and General Assurance Society Limited (“L&G”) to cover all future liabilities required to pay the pensions for the Fund’s members and any eligible dependents. The Fund will no longer bear any investment, longevity, inflation or interest rate risk. This buy-in will deliver greater security to the Fund’s members as L&G are the largest provider of pensions in the UK market and the Fund will no longer have to rely on Robinson plc to support the payment of pensions should a shortfall arise. Member’s pension benefits will not change.
Members do not need to do anything but please continue to communicate with us in respect of any matters regarding their pension.
This buy-in is the first step towards the full buy-out proposed after a data cleanse exercise, which is expected to be completed before the end of 2023. L&G will then take over responsibility for administering our pensions together with the pension payroll. When this happens, members will receive a welcome letter from L&G informing them of the change in contact details.
On 30 September 2019, the Trustees and Sponsoring Employer agreed to transfer the MP section of the fund to a MasterTrust scheme administered by Legal & General.
Robinson plc is the sponsoring employer and administrator of the Fund – further details can be found on the website www.robinsonpackaging.com .
Any queries about the Fund or about benefits from the Fund should be addressed to the Secretary to the Trustees, Robinson plc, Field House, Wheatbridge, Chesterfield, S40 2AB.
This Statement sets out the principles governing decisions relating to the investment of the assets of the Robinson & Sons Limited Pension Fund (the Scheme).
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