The Trustee has to carry out a formal financial assessment called an actuarial valuation at least once every 3 years to check how the Scheme is doing. We shared the results of the 2020 actuarial valuation with employers in a recent newsletter, which you can find here. Further information can be found in the employer portal
You can listen to Kate Yates, CEO of Plumbing Pensions, talk about the 2020 actuarial valuation and what the valuation results mean for employers here.
We plan to run a webinar for employers and their representatives from 1pm-2pm on Friday 5 February 2021.
You will be able to hear from the Scheme’s representatives and ask questions about the 2020 actuarial valuation.
You can register for the webinar here. All attendees should register separately. Please note that the link to the webinar will be sent out closer to the date.
Share your views
The Trustee is seeking your views on the following two important questions.
Question 1 – Do you agree that the funding shortfall should be met by relying on future investment returns instead of extra contributions from employers?
The Trustee would like to complete the valuation early in 2021 rather than wait until the new governance structure is in place, later in 2021, to give employers certainty about their financial commitment to the Scheme in these uncertain times.
Question 2 – Do you agree the Trustee should complete the 2020 funding valuation early in 2021 rather than wait until the new Scheme governance structure is in place?
You can provide feedback here.
Please may we have your feedback by 19 February 2021.