Contribution Rates
Please note that there is no increase to Contribution Rates from 6 April 2019.
Brexit
The 29th March Brexit deadline when the UK is due to leave the European Union is getting close. We want to reassure members that we will continue to pay pensions as normal. There remains a lot of uncertainty about Brexit and how or when it might happen. We are monitoring the situation and taking steps to…
DetailsProposed Scheme Closure
The Trustee has sent active members a booklet about the proposed Scheme closure consultation. The Trustee is considering whether to close the Scheme to future benefit accrual from 30 June 2019. If the Scheme closes to future benefit accrual, the Scheme will continue to pay benefits earned before 30 June 2019. Further information can be…
DetailsEmployer consultation on proposal to close Scheme to future accrual
The Trustee has written to participating employers about a proposal to close the Scheme to future benefit accrual from a date to be agreed. The Trustee believes the increases in contributions needed to cover the cost of future benefit accrual would be unaffordable for many employees and employers. The Trustee is initially seeking feedback from employers.…
DetailsPhone Scam
We have received reports that a scammer is calling people using our number. We would never ask for credit card details. If you have received a suspicious call, please call us on 03457 656 565 to let us know and check out the Pensions Scams section.
Section 75 employer debts and my benefits
You may have heard that the Scheme has a large deficit that could damage plumbing firms. You may be worried about this and wonder whether your benefits are safe. The Scheme is currently paying, and intends to continue paying all members benefits in full. The Scheme is run by a Board of Trustee Directors. The…
DetailsScheme Rule change notification
The Trustee Directors have recently agreed a Rule change with the Association (APHC), the Federation (SNIPEF) and the Union (Unite). The rule change means that for the period up to 31 December 2018, no Participating Employer can cease to participate in the Scheme or be discharged from their past, present or future obligations under the…
DetailsCertificates of Pension Credit
We are currently in the process of issuing the Certificates of Pension Credit for the year to 5th April 2017, if you have not received this from us by the middle of December, please contact us. If you require any further information or clarification regarding the benefits that you have accrued in the Scheme please…
DetailsPensioner buy-in with Legal & General
The Plumbing & Mechanical Services (UK) Industry Pension Scheme (the “Scheme”) has recently completed a buy-in with Legal & General. This involved exchanging nearly £570 million of the Scheme’s assets, primarily government and corporate bonds, along with cash raised by selling a small amount of UK equities, for a bulk annuity policy from Legal &…
DetailsWelcome to our new website
We are excited to launch our new and refreshed website. The updated site includes changes to content, navigation and is responsive for using on a range of devices. The Plumbing & Mechanical Services (UK) Pension Scheme has a rich history of providing the plumbing and mechanical services industry excellent member benefits. The updated website provides…
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