We introduced the ability for members aged 55 and above to access their benefits as a series of lump sums rather than a single lump sum. We also partnered with a national advisory firm, Origen Financial Services, to offer members access to advise on their DC pension savings for a discounted fee.

Being a responsible investor is important to us and a key factor in our investment approach. As part of that, we’ve given members who make their own investment decisions the option to invest in a suite of funds that have been ethically screened.

We’ve also continued to enhance the communications and content available to help members understand how their pension works. You’ll find a chatbot on our member website, which makes it easier to find information, an interactive video quiz to help you think about the lifestyle you might want in retirement and how much it might cost. Plus, you can try out our new pension tool to work out if your savings are on track.

You’ll also find a hub containing lots of news, articles, and useful content to help you get to grips with your pension and saving for the future.

You can read full details about all the progress we’ve made over the last scheme year in our annual Chair’s Statement, or take a look at more of our highlights here.

By law, our trustee board must prepare an Annual Chair’s Statement within seven months of the end of the scheme year. For TPT, our Chair’s Statement must be ready by the end of April (as our scheme year runs from 1st October to 30th September).

The Chair’s Statement must explain how certain legislative governance standards have been met and how it’s performed.