A message from Pi Pension Trustees in respect of the Covid-19 Pandemic

Pi Pension Trustees includes Pi Consulting (Trustee Services) Limited, Temple Trustees Limited, Fairfield Pension Trustees Limited, and Evolutions Trustees Limited.

As a trustee business, Pi Pension Trustees is fully operational and remains focused on ensuring that the pension schemes it is responsible for continue to operate as effectively as possible.

Clearly the COVID-19 outbreak, and recent Government advice, has meant that we and our advisers have had to implement action plans to ensure that we adapt the way in which we work in relation to our pension schemes to safeguard the health and wellbeing of the teams that run the schemes. However, this has not impacted on the security or operation of the pension scheme.

Payment of Pensions

A key priority for us, as a Trustee, is that pension payments should continue to be paid on time and in full to pensioners. We have received assurances from the administrators of each of the pension schemes, that they have implemented steps to ensure that this will happen for both UK and overseas pensioners.

If you are due to retire soon, you will still receive information from the scheme administrator in good time for their pension to be set up.

As Trustees, we are monitoring these activities on an ongoing basis to ensure that there will be no disruption to pension payments.

Dealing with queries

Due to understandable concerns regarding COVID-19, many scheme administrators have advised that they have seen an increase in member communications. This means that they may not be able to respond to you as quickly as we would like in the short-term. Please be assured that you will receive a response as soon as the scheme administrators are able. We ask that our members only contact the scheme administrators if your question is essential and to be patient when awaiting a response.

Scheme Funding

We are in contact with the employers funding each of our schemes, to understand how Covid-19 is affecting their financial position. We are looking to work collaboratively with employers to ensure that, where there are difficulties, we are responding to them within the terms of guidance issued by the Pensions Regulator.

Future updates

Obviously, things are changing on a real time basis. We are keeping the situation under constant review and will update this notice if we have further important news.

On behalf of Pi Pension Trustees and advisers, we wish all our pension scheme members and their families well.

Roger Cooper – Head of Trusteeship
April 2020