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29/03/2012 - PENSION INCREASE EXCHANGE (PIE) The Company wrote to eligible pensioners in November 2011 to offer them the option of receiving a one-off increase to their current level of pension income by giving up the right to future increases that would otherwise be applied to part of their pension. The offer was made to exchange the non-statutory increases on pension for service before 6 April 1997 in excess of Guaranteed Minimum Pension (GMP) for a higher flat pension, this part of the pension will not then increase in the future. This is known as a Pension Increase Exchange (PIE). This was a Company initiative but the Company kept the Trustee fully informed throughout the process. Approximately 40% of eligible pensioners contacted by the Company accepted the Company’s offer. The exercise will result in a reduction of the pension fund liabilities but the amount is not yet known.

20/03/2012 - PENSION INCREASES 2012 - The annual increase to eligible pensions in payment this year is 3.7%. The statutory increase to the post 88 Guaranteed Minimum Pension (GMP) is 3%. Further details can be found here

02/03/2012 - WARNING - The Pensions Regulator, Financial Services Authority (FSA) and HM Revenue and Customs (HMRC) are warning consumers to steer clear of pension offers that claim to be able to provide loans or release tax-free cash from people’s pension pots before they reach age 55. Further details can be found here.

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Welcome to the Pearl Group Staff Pension Scheme

The Pearl Group Staff Pension Scheme is a trust based occupational pension scheme designed to provide valuable pension benefits for its members. As at 30 June 2010 the pension fund had an asset value of over £1.6 billion and a membership of over 21,000 in three different Final Salary Sections (Pearl, London Life and NPI) and one Money Purchase Section.

This website is designed to provide information for the scheme’s members, Trustees and Administrators.

 
 
 
 
 
Members

This area of the site is dedicated to information applicable to members of the scheme.

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Trustees

This area of the site contains trustee documents and information.

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Administrators

This part of the site is for the Scheme Administrators to manage the site.

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Contact Us

Use the link below to contact the Scheme Administrators..

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Scheme Administrators

The Pearl Group Staff Pension Scheme is administered by First Actuarial LLP. To visit their website please click on the image below:

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The information placed on this website is for ease of reference only. Whilst every effort is made to keep this information up to date, sometimes there is necessarily a delay in posting new or revised documentation and, as such, members should only rely on the printed documentation provided in relation to the Scheme, which is available from the Scheme Administrators. Members access this website on the basis that the Company and the Trustee of the Scheme will not be liable for any action taken in reliance on the information posted on it. If you have queries please contact us.
© 2007 First Actuarial plc