The Statement of Investment Principles
(SIP) is a legally-required document, produced by the Trustee. It sets out the
principles the Trustee follows in order to provide a suitable range of
investment funds for the Plan’s members.
Members of the Defined Benefit
Section rely on the Trustee to manage the investment of the assets that
will provide benefits for them. Members of the Defined Contribution Section rely on the Trustee to offer a
suitable default investment strategy and range of funds should they wish to
choose to select their own investments.
The Trustee chooses and monitors the investments held within both
the DB and DC Sections of the Plan. It is the Trustee’s responsibility to
ensure the Plan’s funds are well managed, offer appropriate levels of risk, and
are good value.
There are two dedicated committees
(smaller groups of Trustee directors supported by advisers) who meet regularly
to review the performance of the investments, consider members’ feedback, consult
with the sponsor (the Company) and make adjustments to the investments if
necessary to ensure they follow the principles set out in the SIP.
The Trustee regularly reviews its own
performance to ensure it is following the principles set out in the Statement
and each year it reviews the principles to ensure they remain fit for purpose.
Please click the buttons below to download the Statement of Investment Principles.
