Marmon Group Limited Retirement Benefits Plan

Amendments to Pension Scheme Regulations in 2018 mean that the Trustee of the Marmon Group Limited Retirement Benefits Plan is legally obliged to release certain information about the Scheme on a publicly available website.

From 31 July 2019, the Trustee will publish the charges and transaction cost information for all investment options annually, via the Chair’s Statement. These disclosures will also include illustrations of the compounding effect of the costs and charges.

Transaction costs result from the trading necessary to invest or switch the assets paid into a pension scheme.

From 1 October 2019, the Trustee must update and publish its Statement of Investment Principles (SIP) taking into account financially material considerations, including how those considerations are taken into account in the selection, retention and realisation of investments. ‘Financially material considerations’ are formally defined as including, but not limited to, matters such as environmental, social and governance (ESG) considerations, including but not limited to climate change. The revised SIP must also state the extent, if at all, non-financial matters are taken into account in the selection, retention and realisation of investments and also reflect more specifically on their stewardship activities.

Furthermore, from 1 October 2020, the Trustee will be required to produce, and publish online, an implementation statement setting out how they acted on the principles set out in the SIP and describing any review of it during the year, explaining any changes that have been made. The implementation statement will be published on this site annually, from 2020 onwards.