JHPS – Chair’s Statement.pdf

The John Heathcoat Pension Scheme's Governance Statement covers the period from 1 April 2022 to 31 March 2023, demonstrating how the Scheme's defined contribution (DC) benefits meet governance standards. The Trustee has appropriate levels of knowledge and understanding, achieved through regular reviews, expert updates, and training. The Scheme's DC protected rights assets are notionally invested alongside the Defined Benefit (DB) assets, constituting the "default" fund, with no life-styling strategy in place. The Trustee has appointed a Fiduciary Manager, Legal & General Investment Management, to manage the Scheme's DB investments. The Statement of Investment Principles (SIP) addresses key governance issues, and the Trustee's main objectives are to invest assets in the best interest of members, generating income and capital growth to meet benefit costs while limiting risk. The Trustee considers various risks, including solvency, mismatching, liquidity, concentration, sponsor, leverage, and manager risk, and believes social, environmental, and ethical issues are financially material, reviewing the Fiduciary Manager's ESG approach and sustainability preferences.