News for members of the DC Retirement Plan
Following a change to the Company's payroll administration system, the Company has experienced some pension contribution processing issues. All pension contributions up to and including May pay data have been received by Standard Life (the pension scheme Investment Manager), with investment units being purchased on the day of receipt. Unfortunately there is a time delay in the investments appearing on an individual's personal Standard Life account. We are working closely with the relevant parties to address this.
The Trustees regularly monitor the speed of investment once the Company has deposited contributions in the Trustees bank account.
The Company is committed to ensuring employees' pension funds are not adversely impacted and are currently reviewing the impact of the delay to determine whether any members may have been financially impacted.Back to all stories