About the scheme
Main Points
- Reuters Supplementary Pension Scheme (SPS) was registered in 1999 as a defined benefit scheme.
- The Scheme is managed by a Corporate Trustee with the help of professional advisers and a sub-committee made up of Directors of the Trustee (Trustee Directors).
- A newsletter is circulated to all members annually.
Reuters Supplementary Pension Scheme (SPS) was registered in 1999 as a defined benefit scheme. It is managed by a Corporate Trustee with the help of professional advisers and a sub-committee made up of Directors of the Trustee (Trustee Directors). A newsletter is circulated to all members annually.
The Scheme is a defined benefit (DB) scheme meaning that its rules define the benefits payable by the Scheme independent of the contributions paid into it. The benefits are also not directly related to the investments of the Scheme. SPS is managed by a Corporate Trustee who ensure that the Scheme is administered according to its Rules so as to provide benefits to its members as intended. The Trustee is advised by and helped by a number of professional advisers who also attend the Board meetings which are held quarterly.
The Trustee has one sub-committee which reports to the Board and is responsible for reviewing and proposing member communications. The sub-committee is made up of Directors of the Trustee (Trustee Directors) with the help of advisers where required.
The Scheme produces a newsletter each year which is circulated to all members together with financial statements. Every three years a formal valuation of the SPS is carried out.