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Contributors
Once again we have invited
contributions from a range
of members as well as those
people who support the Fund,
including the Administrators,
Investment Advisers, Pensions
Team and Scheme Actuary
along with some of the Trustee
Directors.
Brian Atmore
Pensioner
Denise Dillworth
DC member
(employee)
Sandra Reid
DB member
(employee)
Fiona Charge
DB member
(employee)
Andrew Brock
DB member
(employee)
Mary Blunt
DB member
(former employee)
Judith Henry
DC member
(employee)
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Brian Barrow
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Chairman of the Trustee since April 2010,
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Trustee Director since June 2009,
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Fund membership type: Pensioner,
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Former role with BAT: Regional Head of Finance – Western Europe
Comments on the previous edition of FYI
Les Munday
Very informative and keeps you up to date with the current fund position as well as giving you legislation
changes. Recognised the ‘process’ that Dave Mullen went through after retirement!
Susan Evans
Very readable - good balance of technical and personal interest.
Petra Vaeth
Very interesting. Provided useful and legal up to date information.
Mr A Allen
Well presented, interesting to read and very informative. Facts and figures displayed in an ‘easy to
understand’ format. Good use of graphics. Well done!
Louise Bishop
I think FYI is excellent, clear and concise - just enough info to not be bogged down and directions to get
more if you need it!
Ken Huscroft
In view of the current international financial situation it is very important to all employees and, as in my
case, pensioners, that we receive this information so that we can be happy in the knowledge that our futures are being
well taken care of.
C
Thanks to all those who took the time to respond
The Trustee continually reviews its communication strategy and, as a result of feedback received from members, is
pleased to confirm the following:
The ‘Plan it’ tool for active and deferred members (see page 11 for more details) has been updated to take into account
the impact of tax on your pension requirements.
The frequency of the Investment Options seminar for employees has been increased from annually to six monthly.
We will be implementing new email functionality for all members in 2012 to enable us to keep you up to date more
efficiently with pensions news. (Don’t worry, this is not a replacement for your annual FYI!)
Due to the success of the Pensions Team’s employee road shows in August 2011, we are planning to hold more road
shows in 2012. We would love you to drop by with your questions and feedback for the Trustee. Watch this space for
more information....
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Brian Barrow
Welcome to this year’s FYI magazine.
In the past year there have been a number of changes affecting pensions and the Fund. In part these have been
driven by regulation, but the Trustee Directors are also constantly looking for improvements that will help safeguard
your interests. We are fully aware of our responsibilities to you as one of the 15,000 members of the Fund.
Two key pieces of work this year have been on the investment side of both the DB and DC sections. For DC
members we have introduced changes to the range of funds that we believe will benefit members through
lower costs and improved performance. For the DB section we have agreed with the Company an approach to
reducing investment risk, and the Company has agreed to increase its contributions to support this strategy.
These changes are explained inside.
Over the years, there have been a number of changes to the Fund – both Trustee-driven developments and legislative
changes. The Wikipension article taps into the expertise of our long-standing Trustee Directors, our Actuary and
members of the Pensions Team, summarising the journey that the Fund has been on. To encourage you to visit the
Fund website, we are also running our magazine quiz online. Complete the answers to four simple questions about
information in this edition by visiting
and you could win £100 of vouchers.
Enjoy the magazine!
