ELECTRONIC DATA SYSTEMS 1994 PENSION SCHEME. Scheme Booklet. E.ON Section (60ths category)

Transcription

1 ELECTRONIC DATA SYSTEMS 1994 PENSION SCHEME Scheme Booklet E.ON Section (60ths category) May 2016

2 CONTENTS Page 1. FOREWORD DEFINITIONS ELIGIBILITY AND ENTRY INTO THE SCHEME CONTRIBUTIONS RETIREMENT BENEFITS EARLY RETIREMENT LATE RETIREMENT CASH OPTION BENEFITS ON DEATH IN SERVICE IN RETIREMENT LEAVING THE SCHEME PENSIONS INCREASES ADDITIONAL VOLUNTARY CONTRIBUTIONS (AVCs) STATE PENSION BENEFITS ADDITIONAL INFORMATION ABSENCE FROM WORK WHAT ELSE SHOULD I KNOW? FURTHER INFORMATION... 17

3 1. FOREWORD This booklet describes the benefits provided by the E.ON Section (60 ths category) of the Electronic Data Systems 1994 Pension Scheme ( the Scheme ). The Scheme offers a comprehensive package of retirement and death benefits for you and your family. The Scheme provides an income for you in retirement and valuable financial security for you and your family while you are a member of it. The Scheme is set up under trust, which means that its assets are kept completely separate from those of the Company. In addition, the E.ON Section is kept entirely separate from the other sections of the Scheme. This booklet (which applies from May 2016) is intended to give an outline of the terms of the Section as laid out in the Trust Deed and Rules, together with additional information about its administration and your rights under the Scheme. We hope you find it straightforward and informative. It cannot cover everything that is in the Trust Deed and Rules. If you wish to, you can inspect the Trust Deed and Rules by contacting EDS Pensions Administration or by looking on the member website at Should there be any discrepancies between this booklet and the Trust Deed and Rules the latter will prevail. This booklet also describes the State Pension Scheme on page 14, since in planning for your retirement you should take account of State pension benefits in addition to benefits from the Scheme. You should note that special terms may apply to you because of the date you joined your previous arrangements. You should also note that because of recent legislation: (a) (b) (c) you may have to take independent advice (i) before you consider a transfer to another scheme to flexibly access any of your benefits, or (ii) take up any option (if available) to convert any benefits into flexible benefits in relation to any benefits under the Scheme that may be on a money purchase basis the value of any pension will depend on several factors including the amount of contributions paid, any cost of exercising any right to transfer the benefits, any charges payable, the age at which the benefits can be accessed, performance of investments and any cost of converting the benefit into an annuity; and if appropriate there is a free and impartial Government service that helps you understand retirement options called Pension Wise. Pension Wise does not recommend any products or tell you what to do. Tel: Individual circumstances change. To ensure that your benefit entitlement is correctly recorded, please keep EDS Pensions Administration (see page 18 for contact details) updated on any changes in your circumstances, for example, if you move house, get married or have a child. Please take time to read this booklet and keep it in a safe place in case you need to refer to it again. If you require any further information or assistance about the Plan, you are welcome to contact EDS Pensions Administration. Alternatively you may find the information you need on the member website at See Further Information section on page 18 for contact details. PLEASE KEEP THIS BOOKLET IN A SAFE PLACE FOR FUTURE REFERENCE 1

4 2. DEFINITIONS Annual Allowance (AA) The maximum value an individual s pension benefits can increase in a year. If exceeded, a tax charge will be payable. The AA is set at 40,000 for 2016/2017 but is reduced for those with higher incomes (generally 150,000 and above) by 1 for every 2 of income over 150,000 until the allowance reaches 10,000. The increase in value of benefits is established by the increase in their capital value (being calculated as 16 for each 1 increase in pension). Capital Value The value of your pension benefits for the Lifetime Allowance. To calculate the Capital Value of your benefits under the Plan you multiply the pension you will receive on retirement by 20 and add the amount of any cash you may opt to receive in lieu of pension. If you have paid any Additional Voluntary Contributions you add in the value of these. Child For Scheme purposes, a Child is a child of the member (including a stepchild or a legally adopted child dependent on you) who is under the age of 18 (or 23 and receiving full-time education or full-time vocational training). Company HP Enterprise Services UK Ltd and any subsidiary or associated company whose employees are included in the Scheme. EDS Earnings Cap The maximum earnings figure on which contributions can be paid or benefits calculated. For the tax year 2016/2017 the EDS Earnings Cap is 150,600. The EDS Earnings Cap may not apply to you if you have transferred in from a Previous Scheme or if it did not previously apply to you. E.ON Section This means the E.ON Section of the Scheme which incorporates the E.ON Section (60ths category) and the E.ON Section (80ths category) Final Pensionable Pay Final Pensionable Pay is the greater of: Pensionable Pay in the last twelve months; and The actual Pensionable Pay for any one of the last period of twelve months in the last four years. Note: When a Pensionable Pay is used that is earlier than the last year, it is adjusted by the Retail Prices Index (RPI) to that year. Guaranteed Minimum Pension (GMP) That part of your pension (and any pension paid to your Spouse) which approximates to the pension you would have earned under the State Earnings-Related Pension Scheme (SERPS) if you have been contracted-out of SERPS. See page 14 for more information on this. Lifetime Allowance (LA) The maximum value of an individual s pension benefits from all sources. If exceeded, a tax charge will be payable. The LA is set at 1 million for 2016/2017. The value of pension benefits is their Capital Value. 2

5 2. DEFINITIONS Normal Pension Date Your 63rd birthday. Partner For Scheme purposes you will be considered to have a Partner where: The Partner and the member were cohabitating as partners in an exclusive, committed long-term relationship; and The Partner and the member were not prevented from marrying (or would not have been seen so prevented apart from being of the same sex); and Either the Partner was financially dependent on the member, or the member and the Partner were financially inter-dependent; and The member and the Partner have made a joint declaration that they are Partners (although this will be necessary only if the Trustee has advised the member that a joint declaration is required). Pensionable Pay Your basic salary or wages as determined from time to time plus contractual shift allowance but excluding overtime, bonus and any other irregular payments. This is subject to the Earnings Cap where applicable. Previous Scheme The E.ON Scheme or the pension scheme which you were a contributing member of immediately prior to joining the Scheme. Reckonable Service The number of years and complete days of your contributory membership of the Scheme. Part-time service is counted proportionately on the basis of hours worked. Reckonable Service is limited to a maximum of 40 years at Normal Pension Date. If you transferred in your benefits from the Previous Scheme then your Reckonable Service will also include an appropriate added years credit. Scheme The Electronic Data Systems 1994 Pension Scheme. Spouse Means a person who is married to a member at the date of the member s death, (including a same sex spouse) or a civil partner of a member as defined by the Civil Partnership Act State Pension Age Age 65 for males born before 6 December 1953; Age 60 for females born before 6 April 1950; Phased between ages 60 and 65 for females born after 5 April 1950 and before 6 December 1953; Phased between ages 65 and 66 for people born after 5 December 1953 and before 6 October 1954; Age 66 for people born after 5 October 1954 and before 5 April 1960; Phased between ages 66 and 67 for people born after 5 April 1960; Increased to age 67 for individuals born between 6 March 1961 and 5 April Trustee A trustee company, EDS Trustee Limited. Trust Deed and Rules The legal documentation that establishes and regulates the running of the Scheme and sets out the rules for its operation. 3

6 3. ELIGIBILITY AND ENTRY INTO THE SCHEME Who is eligible to join the Scheme? You will be eligible for inclusion if, on the day immediately prior to commencement of employment with the Company, you were a contributing member of the Previous Scheme and are notified of your entitlement to join the Scheme by the Company. Can I transfer in benefits from another pension scheme? Benefits earned under a Previous Scheme may be transferred as a one off opportunity on special terms, and you will be advised of the additional Reckonable Service secured by such a transfer. Currently, the Scheme does not accept any individual transfers in. What happens if I want to opt-out of Scheme membership? You will not have the right to join the Scheme at a later date. You may leave the Scheme at any time. However, subject to the agreement of the Company and Trustee there is discretion to waive one or more of the eligibility conditions and allow re-entry. In such circumstances you will normally be asked to complete a health declaration form for consideration by the Medical Advisor to the Scheme before being allowed to re-join, and it will be subject to such conditions as the Trustee may require. It will not be possible to re-join the Scheme more than once. 4

7 4. CONTRIBUTIONS What do I pay? Your contributions to the Scheme will be at a rate of 5% of your Pensionable Pay. Your contributions qualify for tax relief. Based on the current basic rate of tax of 20%, each 100 you contribute actually costs you 80 (less if you are a higher rate tax payer). Tax relief is given automatically through the payroll system. Your contributions will stop when you cease to accrue future service benefit or complete 40 years of Reckonable Service. Previously the Scheme was contracted-out of the second tier of the State Pension Scheme (S2P)., This meant that you paid National Insurance contributions at a reduced rate. With effect from 6 April 2016 contracting-out has ceased. How much does the Company pay? Your contributions alone would not be enough to pay for all the benefits promised. The Company pay any balance of costs that may be necessary. The Scheme Actuary regularly assesses the funding position of the Scheme, undertaking actuarial valuations in which the assets of the Scheme (contributions and the return achieved on the Scheme investments) are measured against the present and future liabilities (payments to members and beneficiaries). The Scheme Actuary agrees the level of contributions with the Trustee and the Company. The Company is then required to pay the agreed contributions to provide the benefits payable out of the Scheme, as described in this booklet. Can I pay more? Yes, the Scheme offers you the facility to pay additional voluntary contributions (AVCs) towards providing extra tax free cash or pension on top of your Scheme benefits when you retire. Depending upon your circumstances at retirement you will be given the option of tax free cash or you can convert your AVCs into a pension on the open market. Please see page 13 for more details on AVCs. 5

8 5. RETIREMENT BENEFITS What benefits will I receive? When you request payment of your pension, you will receive an annual pension (paid monthly) for the rest of your life. You may normally exchange part of the pension for a tax-free cash sum. How is my pension calculated? Your annual pension is calculated as 1/60 th of your Final Pensionable Pay for each year of Reckonable Service (and proportionately for each additional day of service). 5.1 EARLY RETIREMENT Can I retire early? Yes, you will be able to retire early, with or without Company consent, but the level of your benefit will differ depending on the circumstances. If you are made redundant and you are over 55 then with the consent of the Company you may receive an immediate pension. The pension will be calculated in the same way as for a normal retirement, except that it will be based on your Reckonable Service and Final Pensionable Pay to your date of leaving. There will be a reduction to your pension to allow for early payment based on the number of years you have retired prior to age 60 and which will be calculated based on actuarial advice. If you retire and you are over 55 then, with or without the consent of the Company, you may receive an immediate pension. The pension will be calculated in the same way as for a normal retirement except that it will be based on your Reckonable Service and Final Pensionable Pay to your date of leaving. There will be a reduction to your pension to allow for early payment based on the number of years you have retired prior to Normal Pension Date and which will be calculated based on actuarial advice. If you retire due to ill health you may receive an unreduced immediate pension. The pension will be calculated in the same way as for a normal retirement except that it will be based on your Reckonable Service and Final Pensionable Pay to your date of leaving. This pension may be increased by the grant of additional Reckonable Service, based on the Reckonable Service you have already completed, as determined by the Company, but only if a registered medical adviser has certified that you are not able to work again. 5.2 LATE RETIREMENT What if I work after my Normal Pension Date? If you work on after your Normal Pension Date and accrue future service benefits you will have to pay contributions to the Scheme and your benefits will be based on your Final Pensionable Pay up to a maximum of 40 years Reckonable Service of the Scheme. Your contributions will stop when you cease to accrue future service benefit or complete 40 years of Reckonable Service. 6

9 5. RETIREMENT BENEFITS 5.3 CASH OPTION Can I exchange part of my pension for a tax-free cash sum? Yes, when you request payment of your pension you may choose to give up part of your pension for a tax free cash sum. You may take a maximum of 25% of the value of your pension benefits up to the Lifetime Allowance (LA). Any cash from your AVC fund will be separate to this. The rate at which pension is converted to cash varies according to your age at the commencement date of your pension and these factors are reviewed from time to time. If you decide to take a tax-free cash lump sum then your pension will be reduced by the pension equivalent of the lump sum using the current factors. It is also possible to take your pension benefit fully in cash where the value of your pension from the Plan is less than 10,000 or the total of your accumulated benefits from all pension arrangements is less than 30,000. This is available if you retire between the ages of 55 and 75. 7

10 6. BENEFITS ON DEATH 6.1 IN SERVICE What benefits will be paid if I die before retirement? If you should die while still a contributing member then the Scheme pays the following: (a) (b) (c) if you are married an immediate Spouse s pension, payable until their death, of 50% of the pension you would have received at your Normal Pension Date but based on your Final Pensionable Pay at the date you die. If death occurs after your Normal Pension Date, the Spouse s pension will be 50% of the pension you would have received if you had retired on the date of your death; a lump sum equal to four times your Final Pensionable Pay, payable from a separate Trust; a Children s pension of 25% of the member s pension for each Child, subject to a maximum of two Children. If there are more than two Children the total pension, equal to 50% of the member s pension, will be shared equally by the Children. If there is no Spouse s pension payable the amount of the Children s pension is increased from 25% to 33% of the member s pension for up to two children. If there are more than two Children the total pension, equal to 66% of the member s pension, will be shared equally by the Children. 6.2 IN RETIREMENT What benefits will be paid if I die after I retire? If your death occurs after you have retired then the Scheme pays the following: (a) (b) (c) if you leave a Spouse then they will get a pension for the rest of their life of half of your full Scheme pension (before any part of it was given up for cash). If you are more than 10 years older than your Spouse the amount of the pension may be reduced. If you have a Child or Children a pension payable on the same basis as those payable on death before retiring (see above). If you die within five years of retiring then a lump sum is payable. The amount is equal to the pension that you were being paid at the date you died, multiplied by the balance left of the five years from retirement. If I have lump sums how are they treated? Nomination Form The Trustee has the discretion to decide who should receive any cash sums payable upon your death. The Directors of the Trustee will take into account your wishes, which is why it is imperative that you complete a Nomination Form, but ultimately they are not bound by this form. Payment is made in this way to avoid any liability for inheritance tax on benefits. It should also be possible for the money to be transferred to the chosen beneficiaries without having to wait for probate on your estate. To ensure that the Directors of the Trustee are aware of your wishes, you should make sure that you have completed a Nomination form which reflects your current personal circumstances. You can get a Nomination form from EDS Pensions Administration or the member website (see page 18). You can make a new nomination at any time and you should ensure that it is kept up to date. 8

11 6. BENEFITS ON DEATH What if I am not married? The Trustee has the discretion to pay a pension to a Partner or dependant nominated by the member. There are three general conditions, which must apply before the Trustee will consider the payment of a pension. These conditions are: 1) the member is not legally married; and 2) the person is financially dependent on the member, and 3) the person is normally resident with the member. The amount of pension will be decided by the Trustee and will not be more than the Spouse s pension. 9

12 7. LEAVING THE SCHEME When can I leave the Scheme? You will cease membership of the Scheme automatically if you leave the Company and do not immediately join another company, which also permits its employees to be members of the Scheme. You may leave the Scheme at any time while continuing to work for the Company. On leaving the Scheme either by choice, or by leaving the Company, before you reach Normal Pension Date then you may be able to choose a deferred pension or a transfer value payment. The deferred pension is payable from your Normal Pension Date. What are deferred benefits? The deferred pension is calculated in the same way as for normal retirement but based on your Final Pensionable Pay and Reckonable Service at your date of leaving. During the period between leaving and when your deferred benefits become payable the part of your deferred pension in excess of GMP and the whole of your deferred lump sum, will be increased by the rise in the RPI up to a maximum of 5% per annum over the period. The part of any of your pension representing GMP will increase for each complete tax year between the date of leaving and age 60 for females and age 65 for males, in accordance with statutory requirements. If you die before receiving a pension a Spouse s pension is payable equal to 50% of the amount of your deferred pension (including increases for revaluation). Options to apply this pension to a Partner or dependants will also apply. Children s pensions are payable on the same basis as those payable on death before retirement. Your contributions to the Scheme will also be returned with interest added at 2.5% per annum. You will be able to take your benefits before Normal Pension Date if you are of a minimum pension age i.e. your 55 th birthday. You can retire earlier than this, subject to Company and Trustee approval, if you are in ill-health. The benefits may be reduced to take account of their early payment. What is a transfer value payment? As an alternative to a deferred pension it may be possible to make a payment to your new pension arrangement whether it is an approved personal pension, an insurance policy or a new employer s registered pension scheme. The transfer value payment can be made any time after you leave the Scheme. The transfer value is the capital value of your deferred pension in the Scheme and is calculated on actuarial advice. You should remember that the amount of any transfer value quoted is subject to change and guaranteed to be held at that amount for only a limited time. 10

13 8. PENSIONS INCREASES Do my benefits increase? The Scheme provides for your pension, the Spouse s pension and the Children s pensions to be increased by the change in the RPI. When the RPI increases by more than 5% a year the Company can review the situation and pay a lower increase but not less than 5%. After you reach State Pension Age, any GMP you have earned between April 1988 and March 1997 will be increased by up to 3%. The State no longer pays any increases to GMP after 6 April Pension increases will take effect on 1 st April each year. A proportionate increase will be granted in the case of pensions that came into payment during the proceeding year. PAYMENT OF BENEFITS How are my benefits paid? Your pension, your Spouse s/dependant s pension and any Child s pension will be paid monthly in advance. Payment is made direct to your bank/building society account by EDS Pensions Administration, acting as the agent of the Trustee. Pensions are taxable as earned income and tax is deducted under the PAYE system. 11

14 9. ADDITIONAL VOLUNTARY CONTRIBUTIONS (AVCs) Can I pay more to improve my benefits? Yes, you can pay AVCs towards providing extra pension on top of your Scheme benefits when you retire. You can now pay up to 100% of your gross taxable earnings into the Scheme each year. Subject to the AA you will receive tax relief on your contributions. The Trustee offers a number of AVC investment options, details of which can be obtained on the EDS 1994 Pension Scheme section on the hp portal or from EDS Pensions Administration. Under current tax legislation, the maximum contribution (with full tax relief) you may pay into the Scheme is 100% of your earnings in any year (including your normal contributions to the Scheme). If you pay through the Scheme you will receive tax relief through the PAYE system. If, however, you arrange contributions to an alternative provider, you will pay a net amount and the pension provider will recoup a basic rate of tax allowance from Her Majesty s Revenue and Customs (HMRC). If appropriate, you will have to claim an allowance for relief from higher rate tax from HMRC. Payments do not have to be made on a regular or continuous basis. Apart from the restriction on the maximum contribution, the only proviso is that if your total retirement benefits exceed certain maxima laid down by HMRC, additional tax will be payable. AVCs may be used to increase any of the Scheme benefits or to provide benefits for other dependants. Alternatively you may take up to 25% of your AVCs as cash, currently tax-free. AVC benefits must be taken at the same time as the main benefits under the Scheme. In certain circumstances, it is possible for your AVCs to be transferred separate from your main benefits. Further information on this can be obtained from EDS Pensions Administration. In the event of your death before an AVC-type benefit becomes available, your contributions, with investment returns, will normally be returned. In the event of you leaving the Scheme then your AVC fund will be made paid-up, meaning that no further contributions can be made, although the fund will continue to receive investment returns. Full details of the AVC arrangements are available from EDS Pensions Administration. 12

15 10. STATE PENSION BENEFITS The State Pension Scheme prior to 6 April 2016 comprised a number of elements. Basic State pension, which provides a flat rate pension to everyone who has paid sufficient National Insurance contributions. State Earnings-Related Pension Scheme (SERPS) which provides a pension based on an employee s earnings between certain limits but which ceased to accrue after 5 April State Second Pension (S2P). This replaced SERPS with effect from 6 April The pension is earnings-related but it accrued differently compared to SERPS. Up to 6 April 2016 the Plan contracted-out of SERPS and S2P, providing up to 6 April 1997 a minimum amount of benefit (Guaranteed Minimum Pension (GMP)) and after that date a benefit meeting at least a reference scheme test minimum. With effect from 6 April 2016 the State Pension Scheme simply comprises a flat rate pension and contracting-out is no longer available from that date, although GMP and the reference scheme test minimum continue to apply to accrual to 6 April As a consequence your National Insurance contributions are payable at the full rate. Further information about State Pension Scheme benefits is available on the Internet: 13

16 11. ADDITIONAL INFORMATION 11.1 ABSENCE FROM WORK What happens if I am away from work because of illness or injury? Absence owing to illness or injury will count as Reckonable Service for up to three years (or such longer period as the Company may determine) so long as you continue to be paid by the Company (other than pension pay rate). What happens if I go on maternity, paternity or adoption leave? If you are on maternity, paternity or adoption leave from the Company, any period during which you receive statutory pay or earnings from the Company will count as Reckonable Service. During this time you must continue to pay contributions but these will be based on your actual earnings received during the period. During any period of unpaid maternity, paternity or adoption leave, you may on your return to work (and with the agreement of the Trustee and the Company) agree to make up any unpaid contributions and the period of absence will count towards your Reckonable Service. What happens if I am away from work for any other reason? Absence for any other reason, is up to three years (or such longer period as the Company may determine) but will count as Reckonable Service for a maximum of six months so long as you continue to be paid by the Company (other than pension pay rate). Unpaid leave will not count for Reckonable Service WHAT ELSE SHOULD I KNOW? Who looks after the Scheme? The Scheme is managed by a corporate Trustee, EDS Trustee Limited. The main management duties of the Trustee are: To ensure the Scheme is managed in accordance with the Trust Deed and Rules and the relevant legislation. To arrange and monitor the administration of the Scheme. To supervise the investments of the Scheme. 14

17 11. ADDITIONAL INFORMATION Is the Scheme tax approved? The Scheme is registered giving the following benefits: Full tax relief on members contributions. The Scheme s investments receive favourable tax treatment. Cash taken at retirement is tax-free (subject to limits). The Scheme will be subject to the LA and the AA to determine levels of tax payable. The rates of LA and AA are set out on pages 2 and 3, and these can change over time. Where they are exceeded additional tax is payable; currently between 0% and 45% (depending on total taxable income) on pension built up in excess of the AA and 25% on the excess over the LA if such benefit is taken as pension (55% if taken as cash). In order to give protection to those members above or near to the LA at 6 April 2006 certain members will have registered and protected their accrued rights to that date. Certain members may also have other fixed protections relevant to them. Any member affected should refer to the literature already provided to them. If you are affected by additional tax because you exceed the AA, a facility called Scheme Pays may be available to you. In this instance you could ask the Scheme to pay any tax on your behalf. Your pension benefits would be reduced as a result. Further details on Scheme Pays are available from EDS Pensions Administration. How are my benefits funded for? All the benefits payable under the Scheme are funded on a basis agreed with an Actuary appointed by the Scheme. Company and employee contributions to the Scheme are invested by professional investment managers appointed by the Trustee. Can I use my benefits as security for a loan? The benefits under the Scheme may not be assigned, nor can they be charged or mortgaged in any way. Any attempt to do so may result in forfeiture of the benefits. The only exception to this rule would be a division of your benefits under the Earmarking divorce provisions introduced by the Pensions Act 1995 or the Pensions Sharing provisions of the Welfare Reform and Pensions Act What happens if I have a Pension Sharing Order? Your pension benefits can be shared with an ex-spouse in the event of divorce. This provision is also extended to those who have entered a civil partnership or same sex marriage. This will usually involve a lump sum payment from the Scheme to a pension arrangement established by the ex-spouse or civil partner, with a corresponding reduction in your benefit. The cost of administering a Pension Sharing Order will be borne by you and/or your ex-spouse or civil partner, by a direct charge. Can the Scheme be amended or discontinued? The Company expects the Scheme to continue but reserves the right to amend or discontinue it at any time. Amendments must be approved by the Trustee, which also has the power to discontinue the Scheme in certain circumstances where this would be in the best interests of the members. 15

18 11. ADDITIONAL INFORMATION Data Protection Act 1998 The Trustee and the Company have both a legal obligation and a legitimate commercial need to process data relating to you for the purpose of administering and operating the Scheme and paying benefits under it. This may include passing on data about you to the Scheme s Actuary, auditor, administrator and such other third parties as may be necessary for the administration and operation of the Scheme. The Trustee and the Company are both regarded as Data Controllers for the purposes of the Data Protection Act You are entitled to see any data that is held on you, unless in providing this data other parties data would be disclosed. You can arrange this either by contacting EDS Pensions Administration or by writing to the Secretary to the Trustee, EDS Trustee Limited, Xafinity, Phoenix House, 1 Station Hill, Reading, RG1 1NB. What information is provided to me as a contributory member of the Scheme? Whilst you are employed by the Company, you will receive an annual statement, as at 31 st December, setting out your current entitlement based on your current earnings. In addition, each year the Trustee will issue a report on the Scheme. This report will also include any other information that the Trustee considers to be relevant. A more formal Trustee s Report including audited accounts is also produced each year and is available to members on request, either through EDS Pensions Administration or via the member website, see details on page 19 along with the Trust Deed and Rules. On retirement, leaving service or death, details of the benefits arising will be provided to you or your dependants, as appropriate. What information do I have to provide? Every member and beneficiary under the Scheme must give such evidence and information as may reasonably be required by the Trustee for the purposes of the Scheme. The Trustee may withhold any benefit affected until the required evidence of information is given. 16

19 11. ADDITIONAL INFORMATION 11.3 FURTHER INFORMATION EDS Pensions Administration If you have a general query about the Scheme or a specific question about your Scheme membership, please contact: EDS Pensions Administration Freephone: Equiniti Paymaster Landline: Sutherland House Fax: Russell Way edspens@equiniti.com Crawley West Sussex RH10 1UH or Visit the member website where you can access key information including the Trust Deed and Rules, latest news, member guides, forms, newsletters and contact information. The website address is: Independent Financial Advice You can find an independent financial advisor by contacting IFA Promotion on: Website: You will need to discuss with the independent financial advisor how they will be paid for any services they provide to you. The DWP s Pension Tracing Service If you have lost the details of your deferred benefits under a previous scheme you can contact the Pension Tracing Service who will provide you with an up-to-date address for the trustees of that scheme. You can contact the Pension Tracing Service at: Pension Tracing Service The Pension Service 9 Mail Handling Site A Wolverhampton WV98 1LU Telephone: Website: 17

20 11. ADDITIONAL INFORMATION Internal Dispute Resolution Procedure The Pensions Advisory Service is available to help at anytime. See page 20 for their contact details. Stage 1 If you have a complaint about any aspect of the Scheme, you (or your representative) should contact the Secretary to the Trustee, preferably in writing at EDS Trustee Limited, Xafinity, Phoenix House, 1 Station Hill, Reading, RG1 1NB. Whenever you write you should give your name, address, date of birth, National Insurance number, the Scheme you are in, the full nature of your complaint along with as much information as you possibly can about why you are aggrieved. Complaints can be brought by members, any surviving beneficiary, non-dependent beneficiaries of deceased members or prospective members. Complaints should ordinarily be made within six months. If you are or will no longer be a member or beneficiary of the Scheme, you must raise the complaint within six months of ceasing to be so. The Secretary to the Trustee will endeavour to ensure that you receive a written reply within two months following receipt of your complaint. In any case he will make a decision within four months. In all cases communication of any decision will be sent to you no later than 15 days after the decision is taken, except in exceptional circumstances where they are unable to do so. The reply will state clearly the decision that has been made about your complaint and must refer to the Scheme s Trust Deed and Rules or legislation, or the exercise of any discretion, which forms the basis of the decision. If the Secretary to the Trustee is unable to give you a full written reply within the initial two month period you will be provided with an interim response stating the reason for any delay and confirming a revised date when a full reply will be available. Stage 2 If you do not agree with this decision you should contact the Trustee, preferably in writing at the same address as above, asking them to reconsider the decision. Whenever you write you must send a copy of the decision, along with your name, address, date of birth, National Insurance number and state your reasons for disagreeing with the decision. If you have ceased to be a member or are a beneficiary or prospective member you must do this within six months of receiving the decision under Stage 1. After considering your disagreement the Trustee must either confirm the earlier decision or make a new decision in its place. They will endeavour to do this within two months of receiving your complaint. In any case they will make a decision within four months. In all cases communication of any decision will be sent to you no later than 15 days after the decision is taken, except in exceptional circumstances where they are unable to do so. If they are unable to respond within two months they will provide you with an interim response stating the reason for the delay. This written reply from the Trustee will remind you of your right to take up your complaint with the Pensions Advisory Service (TPAS) and the Pensions Ombudsman, together with appropriate addresses at which they can be contacted if you disagree with the Trustee decision. Note. The above resolution procedure will cease if a complaint becomes exempt, if Court or tribunal proceedings commence or the Pensions Ombudsman begins investigation. The Pensions Advisory Service is available at any time of this process. This written reply from the Trustee will also provide details of your right to take up your complaint with the Pensions Ombudsman, together with appropriate addresses at which they can be contacted if you disagree with the Trustee decision. 18

21 11. ADDITIONAL INFORMATION The Pensions Advisory Service (TPAS) If you are not satisfied with the outcome of the IDR procedure, you may then refer the matter to TPAS. TPAS is available to assist members and beneficiaries of occupational pension schemes in connection with any pension queries they may have, or to resolve any difficulties they have encountered and that they have failed to resolve with the Trustee or administrators of the Scheme. TPAS can be contacted at: 11 Belgrave Road Telephone: London Website: SW1V 1RB Pensions Ombudsman In cases where a complaint or dispute cannot be resolved, normally after the intervention of TPAS, an application can be made to the Pensions Ombudsman for adjudication. The Ombudsman can investigate and determine any complaint or dispute of fact or law involving occupational pension schemes. The services of the Ombudsman are available to assist members, beneficiaries and prospective members. The Pensions Ombudsman can be contacted at the same address as TPAS. Telephone: Website: The Pensions Regulator The Pensions Regulator is able to intervene in the running of schemes where trustees, employers or professional advisers have failed in their duties, to minimise any adverse impact on the sustainable growth of an employer, and in certain other circumstances. The address is: Napier House Telephone: or Trafalgar Place Website: Brighton East Sussex BN1 4DW Pension Protection Fund The Pension Protection Fund (PPF) has been established in order to protect a significant proportion of the accrued benefits in defined benefit arrangements in the event that the employer becomes insolvent and the pension arrangement is underfunded. The PPF is funded by a levy imposed on defined benefit pension arrangements. 19