Volex Executive Pension Scheme
Volex Executive Pension Scheme (“the Scheme”)
Governance statement for the Scheme’s defined contribution arrangements
This statement has been prepared by the Scheme’s Trustee to report on compliance with governance standards introduced under The Occupational Pension Schemes (Charges and Governance) Regulations 2015.
These governance standards relate to defined contribution (“DC”) benefits, also commonly referred to as money purchase benefits.
The statement includes:
- details of the costs and charges incurred by members in respect of the defined contribution arrangements under the Scheme
- an example illustration of the impact on pension pots of these costs and charges (the illustration has been produced in line with February 2018 guidance from the Department for Work & Pensions entitled “Cost and charge reporting: guidance for trustees and managers of occupational schemes”), and
- details of the Trustee’s assessment of the extent these costs and charges represent value to members.