Chair's welcome

In this edition, we review what’s been happening over the last 12 months as well as pointing you towards the support that’s available to help you get to grips with the Trust. 

The Savings Trust continues to grow, with the value of the investment savings almost doubling over the last three years to reach a total of £1.3bn on 5 April 2024.

Our bespoke Target Date Fund (TDF) investment solution has completed its first full year as the Savings Trust’s default investment option. 

Over eight in ten of you use the TDF, investing your money in a unique ‘vintage’ designed to invest your savings appropriately for your chosen year of retirement.

Recognising this pioneering approach to default investments, the Savings Trust scooped the award for Best Pension Scheme Innovation at the 2024 Pensions Age Awards. Along with our Pensions Quality Mark Plus award, given to the highest quality schemes by the Pensions and Lifetime Savings Association, we’re delighted to be recognised by industry professionals as a top-rated and innovative retirement savings scheme. 

Alongside our TDF solution, the Trustee continues to offer self-select investment funds to members and will begin a review of these later in 2024.

Our administration partner, Aviva, continues to develop and improve its service to members, both online through the MyWorkplace app and website, as well as through their dedicated administration team. A number of updates to MyWorkplace have taken place throughout the last 12 months, and you can read more about these in this update.

Rebecca Hodgson, a company-appointed Trustee Board member, left the Company and the Trustee Board in March 2024. I would like to thank Rebecca for her service and dedication to the Trustee Board over the last five years and extend my best wishes for the future. A replacement for Rebecca will join the Board in the near future following completion of our external Board Effectiveness exercise, and I look forward to working with them and the other Trustee Directors.

As always, I’d like to thank the Trustee Directors who work hard alongside their day jobs to make sure that the Trust continues to improve and serve you as a member. You can find out more about the Trustee Directors and their work throughout this update.