How the Plan is run
The Plan is sponsored by Morgan Sindall Group plc and its subsidiary companies (the Company). All the money in the Plan is held within a Trust managed by a Trustee Board.
What is The Morgan Sindall Retirement Savings Plan?
The Plan is a qualifying workplace pension scheme, which means that it meets or exceeds legal standards required by the Pensions Act 2008 and can be used for Automatic Enrolment.
Although the Company has every intention of keeping the Plan as it currently stands, it does reserve the right to change or to discontinue it. However, the law requires all companies to provide a qualifying workplace pension scheme so even if the Company was to discontinue the Plan you would continue to be a member of a pension arrangement that meets the legal requirements.
You should also be aware that even if the current Plan were to change, none of the benefits you have within the Plan up to the date of change can be reduced without your agreement.
Divorce or dissolution of Civil Partnership
The Trustee reserves the right to pay retirement or death benefits under the Plan to your former spouse or civil partner in order to comply with any court order that requires this.
All the money within the Plan is held in a Trust, which is managed by a Trustee Board. The Trustee Directors who sit on the Board have a duty to act in the interests of all the members of the Plan. They work alongside specialist advisers to help them manage the day to day running of the Plan and arrange the investment of the contributions paid into the Plan as well as ensuring the Plan is up to date with all current legislation.
One-third of your Trustee Directors are elected by the members of the Plan. The other two-thirds are appointed by the Company.
Trust Deed and Rules
Your rights to benefits under the Plan are set out in the Trust Deed and Rules. This is a formal, legal document that sets out all the rules of the Plan and meets the requirements of HMRC and other Government bodies. It is much more comprehensive than the information provided on this website about the Plan.
If anything about your benefits or the Plan isn’t clear to you or you have any questions then you can get in touch with the Plan Administrator.
If there is any discrepancy between the information on this website and the Trust Deed and Rules then the Trust Deed and Rules will prevail.
If you wish to see a copy of the Trust Deed and Rules you’ll need to login to the secure area of the site and access the document library.
Giving up your benefits
You are not allowed to give up or cash in your benefits or use them as security for a loan except in limited circumstances allowed by law and by the Trust Deed and Rules.
At the moment the life assurance benefit offered through the Plan is free of inheritance tax.
If you have sent the Trustee an up to date Expression of Wish form outlining who you want the life assurance payments to go to if you die, then this helps the Trustee to avoid some of the delays that can occur when making payments out of someone’s estate once they have died.
The Expression of Wish form isn’t a binding document but does give the Trustee discretion to decide who the payments should be made to.
We are currently updating our approach to data protection in light of the new GDPR regulations. You can find out more information by contacting the Plan's administrators.