What is a trust-based chair statement?
The chair’s statement is an annual update by the trustee board on key areas of the scheme such as:
- Investment strategy
- Administration performance
- Costs and charges
- Value for money
It’s an opportunity for the board of trustee’s to update their members on areas that have performed well over the last 12 months and areas they have highlighted as needing improvements.
It is a regulatory requirement to produce a chair statement at least once every 12 months and for this statement to be publicly available, free of cost, to its members.
Where can I find my scheme’s chair statement?
Most scheme's will hold a copy of their chair statement on their website or ask your employer where you can find your own scheme’s chair statement.
Show me how costs and charges can affect the overall value of my pension pot over time
The chair’s statement describes the production of a number of illustrative examples of the cumulative effect of costs and charges on pension savings over a period of time.
Most scheme’s will hold a copy of their illustration on their website. We do hold a number of our scheme’s illustrations which you can find below: