We are considering making changes to the governance structure of the Plumbing & Mechanical Services (UK) Industry Pension Scheme (the Scheme).
The proposals do not have any impact on the benefits that you or your employees have in the Scheme. They only affect how the Scheme is managed in the future.
The Scheme was set up in the 1970s and the governance structure is largely unchanged since then. While it has served the Scheme well for many years, it needs modernisation to reflect the current business environment and governance best practice to make it fit for the future.
The Trustee, two employer trade associations (SNIPEF and APHC) and Unite the Union that jointly agree the Scheme’s rules, together asked Pi Consulting, an independent firm, to review the Scheme’s governance structure.
The overall objective of the review was to establish a transparent and efficient decision making structure which has clear lines of communication and avoids conflicts of interest.
Pi looked at how the Trustee Board operates, how employers are represented and the role of the Administration Company, and recommended changes to improve how the Scheme works. The Trustee, employer trade associations and union spent time considering Pi’s recommendations and how they might be implemented and work in practice.
This employer leaflet explains the proposals and looks in more detail at the background to the review and the reasons behind the proposals. We plan to implement most of Pi’s recommendations.
We would like your feedback on the proposals. Information on how to send us your feedback can be found on the Consultation Questions tab.
Please send us your comments by 14 January 2022.