PENSION NEWS Airbus Group UK Pension Scheme
Newsletter for active and deferred members of Schedules 1, 2 and 3. Issued February 2021 Chairman’s Update
Welcome to the latest edition of Pension News which includes a summary of the Trustee Report and Accounts as at 5 April 2020.
This has been a challenging year, with the COVID-19 pandemic having a potential impact on pension scheme funding and unusual demands being placed on the Scheme’s operational activity. We have also seen some changes to the Trustee and management team responsible for the Scheme and we introduce the new contacts to you in this Newsletter.
The triennial actuarial valuation of the Scheme is currently ongoing and progress will be reported in a Newsletter later in 2021. We have made a number of changes to the asset allocation as the Trustee seeks to continue to capture good returns on the assets but with an appropriate focus on risk.
The Scheme continuously monitors its approach to governance and this year we assessed the DC Code of Practice to ensure that we meet with standards set by the Pensions Regulator. This newsletter will outline some of the key objectives that the Scheme is working towards in order to remain compliant and create an excellent member experience.
If you have any feedback on Pension News we welcome your comments alongside any ideas for future topics that you would like to see covered.
Bill Newman, Chairman of Trustees Pension News 2021 - Active and Deferred 2
Scheme Report Scheme Finances
Income and Expenditure The Scheme’s auditor Ernst and Young LLP, has Membership by Type given an unqualified audit opinion on the financial (not including Schedules 4 and 5) Net assets of the Scheme at 6 April 2019 £1,131.8m statements for year ending 5 April 2020, confirming that the financial statements give a true and fair Active Members @ 5 April 2020 – Total Income £74.3m view of the Scheme’s financial transactions during Schedule 1 3302 the year and the net assets at the year end. Schedule 2 365 + Total Outgoings £25.7m Schedule 3 231 The auditor has also given an unqualified Total 3898 + Change in market value of investments £66.3m statement on the contributions, confirming that the contributions payable to the Scheme for Deferred Pensioners 2222 = Net assets of the Scheme at 5 April 2017 £1,114.1m the year ended 5 April 2020 have been paid in Pensioners & Dependants 1017 accordance with the Schedule of Contributions. Total Membership 7137 You can request a copy of the full Annual Report Contributions by Employer and Accounts from the Secretary to the Trustee. @ 5 April 2020
5.59
3.02
37.62 53.40
0.37