lloyds bank pension scheme no 2 annual report

endobj Hi Tim, good to catch up last week and thanks for doing this and sharing. Your 2022 pension statement is available to view online via Your Pension. <<621711058D4E9948A5A02A478FD0D7F8>]/Prev 235898/XRefStm 1741>> SEC filings are those documents that we are required to file because we are listed on The New York Stock Exchange. 28 February 2023. The total market capitalisation of Schneider Electric at 31 March 2021 was 74bn. It also considered the rules of five Lloyds schemes to determine whether these might relieve the trustee of liability in relation to non-statutory transfers. This report provides an update on how we're supporting the transition to a low carbon economy, including progress against our climate ambitions and targets, our first Group climate transition plan and associated TCFD disclosures. Your fund value may have gone up or down since your last statement. Mr G has complained that delays by WTW and the Trustee or James Hay in: (a) effecting a transfer of his pension rights from the Scheme and (b) investing the cash equivalent transfer value (CETV) in accordance with his instructions in the James Hay Personal Pension Plan (the SIPP), have resulted in a lost investment return of 25,522. An award winning space dedicated to accelerating and fostering new products and solutions fit for the needs of our customers around the world. By deteriorating economic recessions. M H Bland - 510262. 10 0 obj Lloyds Bank plc and Bank of Scotland plc (members of Lloyds Banking Group), are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. xX[o0~v4imQ`EhPF7 Lloyds said the sell-off had 'no material impact' on the scheme's funding position. This button displays the currently selected search type. Further information can be found in the Directors Remuneration Report within the Lloyds Banking Group Annual Report and Accounts for 2020, available on the Lloyds Banking Group website. This duty extended to benefits for transferred-in members, including where those benefits had accrued prior to the transfer. We are working with our strategic fund management partners BlackRock and Schroders to develop and refine a range of funds that have a bias towards investing in companies that are adapting their businesses to be less carbon-intensive and/or developing climate solutions. The policy numbers of each pension you want to transfer, The Scheme name if its a workplace pension, You know how you want to invest and access your new pension, The pension(s) you wish to transfer have a total value of more than 10,000. Unlike some other pensions, Retirement Account offers a range of ways to access your pension benefits using the same policy. + Follow. To deliver on our purpose, Helping Britain Prosper, we have identified four focus areas where we are best placed to provide significant positive change enabling us to create a more inclusive society and sustainable future. Mr Justice Morgan ruled that there was no obligation in principle to make payment to the members current or most recent arrangement; but also suggested that the courts would be reluctant to hold that a trustee was relieved of the obligation to make any payment in these circumstances. Delivered early stages of targeted additional 2024 revenues. Financial Services Compensation Scheme. Share on LinkedIn. Please bear in mind this could take you into a higher tax bracket. 1. <> 10 billion green mortgage lending by 20243. We're sorry, but you're not currently eligible to transfer your pension with us. 23 November 2020. Save article. "Throughout 2022, we have continued to deliver on our purpose of Helping Britain Prosper, core to everything we do, whilst creating a more sustainable and inclusive future for people and businesses. Payslips are issued each March, April and October, and any other month where the net amount payable after tax differs by more than 2 from the previous month's payment. <> Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions, today announced a strong return to profitability in its 2021 full year financial results, with an overall profit of 2.3bn (2020: 0.9bn loss) and a combined ratio of 93.5% (2020: 110.3%) - the best quality result reported for . Since the judgment was handed down, the pensions industry has . <>>> 0000002665 00000 n Monday, 27 February 2023. If you joined Lloyds Banking Group after 1 July 2010, youll have been automatically enrolled in Your Tomorrow. Finally, the court reviewed the wording of certain standard form individual member discharges (given, for example, where a non-statutory transfer had taken place) and found that these were not effective to deal with the liability of the trustee to make a top-up payment. fG,7%&o#[o]NZ-u)LXACT0. (3) Paid and proposed. The deal covers pensioner liabilities in the Lloyds Bank Pension Scheme No.1, Lloyds Bank Pension Scheme No.2 and HBOS Final Salary Pension Scheme. Lloyds Banking Group is proud to be one of the UKs largest tax payers, helping finance public services. hb```b``ec`* cg`a8@{dB6|r~_V8e F;pfsc>+PNs_/gjLa@"j^T/*"Uk6gYWO_2@"SAe]tu d;uqf3pI\4gW\< There are different types of annuity which vary how much income you would get. Helping Britain Prosper Plan update, Annual report and accounts (2) On 1 January 2022 the proforma CET1 ratio was 15.9% following regulatory changes. If you've left Lloyds Banking Group or opted out of your pension scheme. However, its important to go back and review your situation before deciding. During 2022, we have continued to work hard to Help Britain Prosper. Annual report and accounts My new State Pension forecast is that with tax year 2018:2019 under my belt, I will have the maximum of ~164 per week. The list is ordered by effective date first, then by scheme name. Headquarters Address. And we are drawing on new technology to give our customers greater choice and control just this month we launched Ready Made Investments, integrated with our banking apps, which enables customers to invest money more simply and easily than ever before. Registered in England and Wales No. Theyll normally charge you for their advice. stream Its a government service where you can get an appointment with a Pension Wise specialist, who will talk you through your options. As of December 31 2021, these schemes represented 94 per cent of the group's total gross DB pension assets, according to the group's 2021 annual report. It might be possible to agree a solution with the member, and it might be possible to pay the amount in lump sum form instead (for example as a trivial commutation payment or relevant accretion) but the court made no ruling on this point. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Today Scottish Widows' commitment is still the same - to . Type: Pension complaint or dispute . ":MB;)k7p R(E$ =3TPF_ W{JtzITG W& ~h6T D5*8C7b2j1;&isDYN'= Am I right to be surprised? For most people, this income will come from work or state pensions, property or other savings and investments. This is based on the total value of the Retirement Account: 0k - <30k = 0.90%. Helping Britain Prosper Plan update . If you've left Lloyds Banking Group or opted out of your pension scheme. <> 30,600 for a moderate lifestyle. When a transferring member applied to take the cash equivalent of their benefits as a statutory transfer, and the calculation of the cash equivalent did not include any figure to reflect the missing equalisation of benefits, then the figure used for the purposes of the statutory provisions was, in some cases, lower than it ought to have been. 2 LEI 4K9QWC86WBAB10HS5Z56. We do that by creating a more sustainable and inclusive future for people and businesses, shaping finance as a force for good. For example you could choose to buy an increasing income and/or choose to provide a continuing income for a loved one after you die. If youre still unsure, or if youre a dependant or representative who needs to get in touch, contact WTW (the scheme administrator) at 01737 227 522. 1 The information presented relates to the 52 weeks to 24 December 2022, the 52 weeks to 25 December 2021 and the 52 weeks to 28 December 2019, unless otherwise stated. Annual report and accounts highlights This represents an increase of 20% on 2021, in line with our progressive and sustainable ordinary dividend policy. Annual report and accounts (32LcheHg 4^ L @f0rxP10h ib2cv]-:t_+GOQi'JN)4> This form lets you notify us if you've recently lost someone close to you who banked with us. 0000053202 00000 n 3. Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers. If you joined Lloyds Banking Group after 1 July 2010, youll have been automatically enrolled in Your Tomorrow. We rely on around 2,600 suppliers for important aspects of our operations and customer service provision. The core question in the latest hearing was whether trustees remain under an obligation to anyone, and if so to whom, and in what way, to do anything about the fact that some historic transfer payments out of their schemes were inadequate. Includes clean growth finance initiative, Commercial Real Estate green lending, renewable energy financing, sustainability linked loans and green and social bond facilitation. Our guide for sending money outside the UK, click to go to sub menu of Products and services, click to go to sub menu of Help and support, click to go to sub menu of Banking with us, click to go to sub menu of Banking online, Please enter to access social media links. If you're still unsure, or if you're a dependant or representative who needs to get in touch, contact WTW (the scheme administrator) at 01737 227 522. It doesn't include most mastertrusts, yet. Petfre (Gibraltar) Group Pension Scheme. The Groups key codes and policies, as well as sector statements, are also available in this section. The 2023 pay award has a cash value typically in the range of 8% to 13% for our lowest paid colleagues. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. 0000004195 00000 n p<2% In the late 1990s, defined contribution schemes were established but have since all ceased. 2. Pensions are long term investments so it's important not to rush decisions. Hear from Charlie Nunn, Group Chief Executive, on how we're working to support a more inclusive and sustainable society. The State Pension Deduction is a deduction that may be made to your Scheme pension to take account of entitlement to a State Pension. Full Year Results 2022. 11 0 obj We will also freeze any sole current or savings accounts and credit cards. A financial advice company backed by 400 years' of experience, Schroders Personal Wealth is a joint venture between Lloyds Bank and Schroders. Lloyds Bank plc and Bank of Scotland plc (members of Lloyds Banking Group), are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. x[mon:t|"]&MEr:g9;$zvu&jz~FSjdo2F"*W)'F4#O}G.g70_F+A) Lloyds Banking Group, Edinburgh, will effectively eliminate increases in pensionable pay of about 30,000 participants in the U.K. by revising the rate on increases in pensionable pay to zero from . hA 04f\GcC~` Our annual report provides disclosures relating to our strategic, financial, operational, environmental and social performance, along with detail on our strategy. #58:*Nzqm\U]_? x}|TU9N$3dI&af$ ; 5!"FQ(^X&jbYv]WW*s9cv|Xml3r`L)WywQ?pw!-]X|`aMV(b}Xh7g~+j^v8?bl-(>sI|soFyNq_2g,[x3)[un7xAQuEckir sao5 ?YCq#Fzv=m8-SvvfgpX` I~E6+^Q>`S&NzYg/"OO Fu G{guvO+kd7}{`WXO\?W's1S!f1YbQv1Yb,f1Yb93f1Yb,f1Ybxc,f1Yb,f1Yb,f1Yb,f1Yb,f1Yb,f1YK{O'65$RSTm,e?O{weN=P3TK}yhV_)haOa#y]/m?6reKxQ3{VMuhiSL4qqc(52X6\\?7';JvmshTZo86':8z8j^-jdq%T2x${y~o 0000002502 00000 n We ask shareholders to access our documents online wherever possible, but if you need a printed copy of the annual report (free of charge) please contact the Company Registrar, Equiniti Limited, on 0371 384 2990. <> Choosing this scheme will redirect you to the Your Retirement Plan information available on the Scottish Widows website. Youll need to set up a password via the Account Recovery link. At GOV.UK you can find out how State Pension works and how much you could get. 2. Given theincreasing impact of cost of living on our customers, in July 2022 we launched our cost of living hub across our mobile banking apps and websites. Environmental, social and governance presentation Up to the first 25% of each amount you take is tax-free and the rest is taxed at your highest tax rate by adding it to the rest of your income for that year. We also continue to create a fully inclusive organisation representative of modern-day Britain and help communities to become more inclusive too. But analysts say Lloyds' 52billion scheme, with 345,000 members, could have lost a fifth of its asset value. I am Female. we have decided to award bonus points to funds preparing Framework integrated annual reports. 12 0 obj For example you might be considering downsizing your home. SCOTTISH WIDOWS SERVICES LIMITED (SC189975) FINANCIAL STATEMENTS 6 . Independent auditor's report to the members of abrdn plc. Responsible business downloads LEI Registration Details. The Annual Report on Form 20F is available on this website and also on the SEC website at www.sec.gov. We have also announced a further share buyback of up to 2 billion, marking 2022 as a very strong year of capital return to shareholders. 0000004543 00000 n Lancing The overall charges are broken down into two, so you always have a clear picture of the costs: 1. Original GMP at date of leaving was 145.08 and excess was 539.84. Youll need the following: Youll need these to complete your application so come back when youve got them to hand. Appeal outcome: None. 0000074745 00000 n Lloyds Bank plc. You may already have an idea of how you want to take your pension benefits. How long you've been paying into your pension for. Weve proactively contacted more than 550,000 businesses to offer support and through our financial wellbeing tools, were monitoring those clients who may be at risk of falling into financial difficulty. J)VhsqA.i()|G|(! TCFD reports published so far (updated 5 October 2022): M&S Pension Scheme (31/03/2021, Early) https://www.mandspensionscheme.com/~/media/document-libraries/marksandspencer2022/documents/tcfd-report.pdf, City of London Pension Fund (30/06/2021, Early, includes other arrangements) https://www.cityoflondon.gov.uk/assets/Services-Environment/climate-action-managing-climate-risk-for-our-financial-investments-2021.pdf, Siemens Benefits Scheme (30/09/2021, Early) https://assets.new.siemens.com/siemens/assets/api/uuid:827078a2-8a46-466f-a7ae-c166949cad22/sbs-tcfd-statement-final-year-ended-30-september-2021.pdf, Telefonica UK Pension Plan (30/09/2021, Early) https://teslawebclientconfig.blob.core.windows.net/sites/telefonicapensionplan.lcp.uk.com/documents/climate-change-report-2021-09-30.pdf, BMW (UK) Operations Pension Scheme (31/12/2021) https://pensioninformation.aon.com/bmwschemes/fileviewer.aspx?FileID=13111&FileName=BOPS%20TCFD%20report%20-%20Signed.pdf, BP Pension Fund (31/12/2021) https://pensionline.bp.com//Resources/Client/BP/MemberSite/MediaArchive/publicpdf/forms/BP%20Pension%20Fund%20Climate%20Change%20Report%202021.pdf, Civil Aviation Authority Pension Scheme (31/12/2021, From page 66) https://www.caaps.co.uk/caaps-tcfd-reporting, GSK Pension Scheme (31/12/2021, Includes other plans) https://www.gskpensions.co.uk/wp-content/uploads/Task-Force-on-Climate-related-Financial-Disclosures-TCFD.pdf, Lloyds Bank Pension Scheme No.2 (31/12/2021) https://www.lloydsbankinggrouppensions.com/assets/scheme_docs/no2/annual_climate_disclosures_report_2021_no2-c8794d3aa0ca8287fbf1b394b4726fb49e0d831c1d1887826fed69b44b15be80.pdf, Mars Associates Retirement Plan (31/12/2021) https://wrigleypensionplan.co.uk/MPTL%20TCFD%20Report%20(final)%20June%202022.pdf, Nationwide Pension Fund (31/12/2021, From page 61) https://nationwidepensionfund.co.uk/assets/uploads/documents/NPF-accs-2021-22.pdf, NatWest Group Pension Fund (31/12/2021) https://epa.towerswatson.com/accounts/NW1/public/natwest-group-pension-tcfd-report-1/, Nestl UK Pension Fund (31/12/2021) https://www.nestlepensions.co.uk/downloads/tcfd_report_2021.pdf, Railways Pension Scheme (31/12/2021) https://www.railpen.com/media/bq1cjgd1/tcfd-report-rps-2021.pdf, Shell Contributory Pension Fund (31/12/2021) https://pensions.shell.co.uk/scpf/resources/scpf-library/_jcr_content/par/toptasks_copy_copy_c.stream/1659542330340/5616b054bf25eff65b568a5f16150ae609f80f85/shell-tcfd-report-2022.pdf, The Aon MasterTrust (31/12/2021) https://aonmt.tbs.aon.com/aonmt/media/default/DisclosurePages/TCFD_AMT_All_holding.pdf, Universities Superannuation Scheme (31/12/2021) https://www.uss.co.uk/-/media/project/ussmainsite/files/how-we-invest/tcfd-2022.pdf, DHL Group Retirement Plan (31/03/2022) https://mypension.dhl.co.uk/MediaArchive/TCFD/TCFD%20Report-DB%20Version.pdf, General Electric Pension Plan (31/03/2022) https://www.mygepension.com/assets/uploads/GE-Pension-Plan-TCFD-Report.pdf, National Employment Savings Trust (31/03/2022) https://www.nestpensions.org.uk/schemeweb/dam/nestlibrary/TCFD-report-2022.pdf, Royal Mail Pension Plan (31/03/2022) https://www.royalmailpensionplan.co.uk/wp-content/uploads/2022/07/RMPP-TCFD-Report-2022-1.pdf, TfL Pension Fund (31/03/2022) https://content.tfl.gov.uk/task-force-on-climate-related-disclosures-june-2022-1.pdf. You can open a Retirement Account with Scottish Widows in just a few steps. % [# z$9}}/Pa*z6. In addition, we made significant changes to our reward approach which reflect our continued desire to support our colleagues, particularly those that are lower paid, during these extraordinary times and over the longer term. Established in 1976, the defined benefit plan provides pension benefits to employees of the Lloyds Banking Group, which provides investment management, estate, and retirement planning and tax services. Individual tax circumstances and tax rules can change. Service charge - an annual charge of 0.1-0.9% a year that decreases as the value of your pension increases. md}~nfW"6H8,liZ$dtXy8.ZXeV=2,iowxE`'uA5D! 1 0 obj The level of charges on your pension. stream What happens when I reach State Pension age? Last week, Lloyds Banking Group (LSE:LLOY) released its 2022 annual report. It means you can leave the investing up to Scottish Widows. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation . 1 (PIP Section) is a corporate pension based in London, United Kingdom. endobj Form 20F XBRL data files (zip) If you're still unsure, or if you're a dependant or representative who needs to get in touch, contact WTW (the scheme administrator) at 01737 227 522. Your pension will usually be paid monthly, into your bank or building society account, after deduction of any applicable income tax. The unprecedented drop highlights exposure to so . The first decision, published just over two years ago, established that trustees of defined benefit occupational pension schemes had a duty to equalise benefits for male and female members in relation to the unequal effect of guaranteed minimum pensions. The biggest union in Lloyds Banking Group has demanded the bank provide a written guarantee that it will keep open its final salary pension for the scheme's existing 30,000 members. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Download report. Register to receive all shareholder communications and documents in digital format. ;[P6T:TP+;:p_E\rc2&K7D_ 2065. Were helping our millions of customers individuals, families and businesses to spend, save, borrow and invest. (1) Other operating expenses for the Go-forward group (excludes Ulster Bank RoI and discontinued operations), were 201 million, or 2.9% lower than 2021, in line with our cost reduction target of around 3%. To learn more about how investments work and your options, visit the Investments page. For more details, please see our cookies policy. In other words, there was no defence under the rules of the relevant schemes or under the Limitation Act 1980 to a claim by a transferring member for an order that the trustee belatedly perform its duty. If you joined Lloyds Banking Group after 1 July 2010, you'll have been automatically enrolled in Your Tomorrow. The Foundations provide funding and other forms of support to help people overcome complex social issues such as mental health, domestic abuse, addiction and homelessness. C/O LLOYDS BANK PLC 125 LONDON WALL LONDON GB-LND GB EC2Y 5AS. We have set aspirations to increase the representation of women to 50% in senior roles and to increase the representation of Black, Asian and Minority Ethnic colleagues in senior roles to 13%, and Black heritage representation in senior roles to at least 3% by 2025. endobj 0000004711 00000 n New organisational structure and leadership team. If you have any problems accessing your statement, please contact WTW (theSchemeadministrator). The 2020 transaction, reinsured by Pacific Life Re, covered liabilities of Lloyds Bank Pension Scheme No. If you've left Lloyds Banking Group or opted out of your pension scheme. The official website for the company is www.lloydsbankinggroup.com. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.2 841.6] /Contents 14 0 R/Group<>/Tabs/S/StructParents 1>> 5 0 obj The financial services provider can be reached via phone at 442076261500, via email at investor.relations@finance.lloydsbanking.com, or via fax at 44--20-7356-1808. endobj At the end of 2019, more than 5 million customers has access to this . St. James ' s Place plc (SJP) today issues its results for the year ended 31 Dec 0.9 billion in-year incremental strategic investment weighted towards growth. For your 2022 - 2018 pension statements, we have included the assumptions used to calculate your benefit projections within your statement. The court held that where a trustee does not pay the cash equivalent to which the member is entitled (but only a lower amount), the trustee is not discharged under the legislation from its obligation to pay a correctly calculated cash equivalent to the receiving scheme. xref This type of income is called an annuity. We provided over 2 billion of financing for the social housing sector increasing access to safe, good quality homes. 2065. View and download annual report documents back to 2000. 2 is a single-employer corporate pension based in London, United Kingdom. That deal, which was reinsured by French global reinsurance company SCOR, covers 5.5 billion in liabilities of Lloyds Bank Pension Scheme No. We aimto comply with the principles of the Financial Reporting Councils UK Corporate Governance Code. 2 0 obj When you reach age 65 (men) or 60 (women), the position is different. If you're still unsure, or if you're a dependant or representative who needs to get in touch, contact WTW (the scheme administrator) at 01737 227 522. This forms the basis of our Group strategy announced in February 2022 to profitably deliver for all of our stakeholders. Published Oct 5, 2022. Annual review Bereavement notification form. Regional inequality is one of the major challenges facing the UK. Britain's biggest banks see value of staff pensions plunge by more than 65bn after rising rates and fall-out from mini-Budget decimate assets. Lloyds Banking Group announces that on 24 February 2023 it filed its Annual Report on Form 20-F for the year ended 31 December 2022 with the Securities and Exchange Commission. 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If you're still unsure, or if you're a dependant or representative who needs to get in touch, contact WTW (the scheme administrator) at 01737 227 522. Scottish Widows was set up in 1815 to take care of women and children who lost their fathers, brothers and husbands in the Napoleonic Wars, taking its name after the people it was founded to look after. We reached out to over 200,000 mortgage customers most affected by rising interest rates and 550,000 business customers, to help those most in need. The latest ESG updates and opinions from across the Group. Mr Justice Morgans ruling provides some straightforward and consistent principles although the implementation of these may be more complex than first appears. The annual increase will be in accordance with the provisions of the formal Scheme rules and any relevant statutory requirements, but will broadly be in line with price inflation to a maximum of 5%. This, in turn, drives innovation and growth. Strong ESG performance is core to delivering our purpose and strategy. We ask shareholders to access our documents online wherever possible, but if you need a printed copy of any annual report documents (free of charge) please contact the Company Registrar, Equiniti Limited: Equiniti Limited The scheme entered into the agreement to further protect itself from the cost of unexpected increases in the life expectancy of its members, it said. We continue to offer help to children and young adults across the UK to better understand the value of money and manage their finances day-to-day as they transition to financial independence. It follows the Task Force on Climate-Related Financial Disclosures (TCFD) framework and has been prepared in compliance with the Occupational Pension Schemes (Climate Change Governance and Reporting . A proportionate increase will be paid if the retirement date is in the year prior to the annual review date. It is referred to as a Graduated Pension/Equivalent Pension benefit and amounts to 10.23 lump sum or 72p p.year. The context of these past transfers may vary widely members may have transferred into different types of occupational scheme or into a personal pension scheme; they may subsequently have transferred benefits on one or more times to other schemes, so that the original receiving scheme no longer retains the transferred-in benefit. ::VO%=IA55"zU|0`a?=6Xf?J7bA@S*vuw=_YrgCp~Pk[_s)D8m%:R=Z_p#tkjj1aC*H9{8M&IL/ [hK9lcM u^Kmazc*0;+-(hfj_):dDv8>{lnTDV6 hF1r+!V!~b1.TVq#/SJvx+R*:Ix(8>>oC(.Ob= Performance summary 09 September 2020. To find out what you can do in times of uncertainty, visit investments in uncertain times. The Times and Financial Times have reported that the Trustee responsible for managing Lloyds Banking Group Pension Schemes with assets worth 50 billion was forced into a fire sale of equities and faced collateral calls of billions of pounds at the height of the . Legal Address. If you joined Lloyds Banking Group after 1 July 2010, youll have been automatically enrolled in Your Tomorrow. Trustees could also perform this duty without a court order. It held that trustees would not be able to require a member to accept a residual benefit (nor could a member require a trustee to provide a residual benefit rather than a top-up payment). Your adviser will appraise your existing savings . This is in the best interests of all our stakeholders. Respondent: Lloyds Banking Group Pension Scheme Trustees Limited Lloyds Banking Group Willis Towers Watson. x}Lh#dd .tPD^Y`g"bE^_|hGbl:qh`UmGUE-1M\pl4$njV|nF TxLL]U:gF>A">;:aV0+]B7tV Share on Twitter. Now more than 200 years on, they look after over 6 million customers across the UK. Youll also need the password you chose when you registered for Your Pension, unless youve updated it since. Articles. Are trustees under an obligation to take proactive steps to identify and calculate any shortfalls in previous transfers-out and to equalise them, or can they wait until a request is made by the receiving scheme or by the transferred-out member?

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