In order to safeguard your benefits, all contributions are paid into a separate trust fund. All the Scheme benefits outlined in this booklet are provided through the fund. The Scheme is run by Trustees. The Trustees act in accordance with the Trust Deed and Rules governing the Scheme and they are helped by financial and legal advisers. The Trustees’ names are published in the Schemes Annual Report. The day-to-day administration of the Scheme is carried out by the WTW Administration Team.
WTW Admin post all Scheme members a Trustee Update each year. Pensioner members normally receive a copy each December and other members normally receive a copy each spring. If you do not receive a copy, please email WTW Admin to confirm your current address.
Find out about the Trustees
Changing or closing the Scheme
The RNLI is legally entitled to change or close the Scheme at any time in the future in accordance with the Trust Deed and Rules. If the Scheme is wound up and there were sufficient funds, the Trustees would use the available funds to secure your benefit entitlement at the date of winding up.
Pension Protection Fund (PPF)
In the unlikely event that the RNLI stopped its work or and it could not afford to pay for all members’ benefits in full through an insurance company, the PPF would pay certain benefits to members and pensioners. There are limits on the amounts paid by the PPF and if the Scheme had to enter the PPF, the benefits provided would not be exactly the same as those provided by the Scheme, depending on your age, the size of your pension and when your benefits are earned.
To contact the PPF, you can contact:
| Web: | www.pensionprotectionfund.org.uk |
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Using Scheme benefits for security as a loan
Your Scheme benefits are strictly personal and cannot be assigned to any other person or used as a security for a loan or mortgage.