You may have seen references in the press to comments that Workers Pension Trust is trying to prevent members moving their pensions savings. This is not true. The Trustees are required to process transfers in accordance with legislation to ensure that members are protected when transferring their pensions savings to new arrangements. Recent changes to the law mean we need to check a few additional points in some circumstances before you can transfer your money. If you have any questions in relation to the transfer process, please don’t hesitate to contact us.
The Trustees are very closely monitoring the situation in Ukraine. We have established that the Scheme’s direct exposure to Russia and Ukraine is extremely low.
You will recall that in June 2021, we wrote to advise that our Scheme Funder, Construction First Ltd, had been acquired by Cushon. Today, we would like to update you on another exciting milestone for Cushon. Cushon has acquired Creative, the manager of Creative Pension Trust, subject to FCA approval.
The company which administers Workers Pension Trust has changed its name from Construction First Limited to Cushon MT NI Limited. The good news is that you do not need to take any action to continue receiving the benefits of Direct Debit.