The Plan is a pension scheme established under trust and is governed by a set of Rules. A copy of these Rules can be downloaded from the Document library on the Plan website (https://hprbp.com/library), or is available on request from the Administration Team.
Our Plan is what’s known as a Defined Benefit Plan. This type of Plan is sometimes referred to as a Final Salary Scheme. This is because the benefits payable will depend on:
The Trustee is responsible for running the Plan and is supported by a secretariat team and a range of professional advisers. The Trustee board meets at least quarterly and receives reports from its Sub-Committees. The responsibilities of the Trustee are extensive. We’ve provided more information on what being a Trustee will entail in the ‘Role of the Trustee’ section
The size of the assets and membership of the Plan requires considerable time and careful governance to ensure that member benefits are safeguarded.