Defined Benefit Scheme

What is The Defined Benefit Scheme?

The Defined Benefit pension is linked to members final salaries during the latter years of their working lives and the level of contributions made by both the member and the Company. The Defined Benefit scheme is now closed to new members and to further accrual for existing members. The scheme continues to provide benefits for existing members and their dependents.  

 

The trust is constituted under a Trust Deed and is governed by formal rules.

Your questions on GMP equalisation answered

Defined benefit members of the Star Group Pension Scheme can find out more about the impact of GMP equalisation. 

 

A court ruling was announced on 26 October 2018 to determine whether members’ benefits should be adjusted to reflect gender inequalities in Guaranteed Minimum Pensions (GMPs), and if so, how.  A GMP is a minimum level of pension for members who were in a pension scheme which was contracted out of the State Earnings Related Pension Scheme (SERPS), on a salary-related basis. Over recent years the Star Group Pension Scheme office team have been working on the impact of GMP reconciliation project. The scheme actuaries Willis Towers Watson have a web page with information including frequently asked questions (FAQs) on its impact. 

To find out more click here: Willis Towers Watston GMP Information 

How can I get details of my Defined Benefit Pension?

If you are a member of the Star Group Pension Defined Benefit scheme, you can receive scheme information or pensions forecast by contacting the Pensions office at pensioners@claverleygroup.co.uk

Expression of Wish

Download a copy of the expression of wish form and send it back to us.

FAQs

A defined benefit pension (also called a ‘final salary’ pension) is a type of workplace pension that pays you a retirement income based on your salary and the number of years you’ve worked for the employer, 

The Star Group Pension scheme will contact its active dual members regarding their personal pension arrangements annually in the form of a Benefits Statement. The Pension scheme Administrators or the board of Trustees may also send further communications throughout the year regarding any changes or updates within the scheme. Communications will usually be sent via post. Further updates may also be detailed on this website.  

To update your personal details with the pension scheme please email pensioners@claverleygroup.co.uk or call 01902 319247/48. Alternatively, you can post your details to; The Pensions Department, Claverley Group, 51-53 Queen Street, Wolverhampton, WV1 1ES. 

If you have any problem or concern regarding the scheme or your benefits which you are unable to resolve, you can raise the matter formally using the internal dispute procedure which the Trustees have established.

 

You will receive a formal response to your complaint from the Pensions Manager. If you are not satisfied, the matter will be considered by the Trustees. Full details of the procedure are available on request from the Pensions Office on 01902 319247/48 or by email at pensioners@claverleygroup.co.uk 

 

At any time you can approach the Pensions Advisory Service for help on 0845 601 2923 or www.pensionsadvisoryservice.org.uk 

 

You may in turn refer any complaint or dispute of fact or law to the Pensions Ombudsman to investigate and determine on 0207 630 220 or www.pensions-ombudsman.org.uk 

 

The Pensions Regulator can intervene in the running of schemes where Trustees, Employers or professional advisors have failed in their duties. If you have concerns of this nature you should contact; The Pensions Regulator, Trafalgar Place, Brighton, BN1 4DW 

 

The Pensions Tracing service is for members of the scheme who have lost touch with their former employers or providers of previous schemes. Details to contact this service are by phone on 0845 600 2537 or visit their website at www.hmrc.gov.uk/pensionschemes/contacts.htm

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