The latest edition of Pensions News is being issued to all our members at the end of November 2011.
If you have already given us your email address, thank you. If you are still receiving your copy of Pensions News by post, please remember that you can save the Plan money - and enter our competition - by choosing to receive future editions of Pensions News and other general correspondence electronically. For more information, click here to read Pensions News 27.
Pension Increase Exchange Exercise
November 2011
The Pensions Office has already written to all members eligible for the Pension Increase Exchange offer. If you have not been contacted then it is almost certain that is because you did not fall into the eligible category. For those who wish to know what the eligibility conditions were, or for more information about the offer that was made, please click here.
And the Winner Is......
August 2011
Many thanks to everyone who took part in the competition by providing their email address. We will update you on the progress of our Electronic Communications project in Pensions News 27, due out in November.
The latest edition of Pensions News is being issued to all our members at the beginning of May 2011.
This edition announces some changes that we need to hear from you about. The first of these is our need to elect a new Member-Nominated Director and you can see more details about this here. The second is to help to save the Plan money by opting to have future editions of Pensions News and other general correspondence sent electronically, instead of by post. Click here to see Pensions News 26 and find out more about this.
Oh the weather outside is frightful, but our Newsletter's still insightful!
This edition of Pensions News contains further information on the Actuarial Valuation, a summary of the Trustee Report and Accounts as at 31 March 2010, and much more! Click here to view Pensions News 25.
As promised on page 2 of the newsletter, our Investment Consultants have provided a full explanation of our cash investments. You can view this document by clicking here.
The latest edition of Pensions News is being issued to all our members at the beginning of August 2010.
This edition includes an update on the progress of the Actuarial Valuation, information about Coats' Trading Position and a summary of the new and forthcoming pensions initiatives introduced by the new Government. You will notice that the newsletter, while still colourful, has less photos and images than usual. We hope you like the new, simpler look.
Please note that shortly after we went to print, HMRC changed their telephone number. The number you should use for all enquiries to HMRC is 0845 3000627.
You can view Pension News 24 online by clicking here.
The latest edition of Pensions News is being issued to all our members at the end of November 2009.
This edition includes a summary of the Trustee Report and Accounts as at 31 March 2009, information about the forthcoming changes to the Early Retirement age and a reminder of the support that the Coats Foundation Trust can provide.
You can view Pension News 23 online by clicking here.
As a result of the changes to the Pension Plan which came into effect on 1 January 2009, the Explanatory Booklet is being completely revised and will be issued to our active members with their Benefit Statements in September. In the meantime, active members who have questions about the detail of the Pension Plan can contact the Pensions Office.
Please note that the changes to the Plan affect active members only - they do not apply to pensioners and deferred members who left before 1 January 2009.
The latest edition of Pensions News is being issued to all our members at the end of April 2009.
This edition includes information about how the Trustee and its advisers have been working to protect the Plan from the worst of the recent financial problems. It also includes money saving advice and some very interesting facts about Coats thread!
You can view Pension News 22 online by clicking here.
Note: the Annual Funding Statement, which was distributed with Pensions News 22, can be viewed by clicking here.
The latest edition of Pensions News is being issued to all our members in early to mid December 2008.
This edition includes information about the Plan's current position in the uncertain financial climate. In addition, it includes a summary of the Trustee Report and Accounts as at 31 March 2008, and the results of the Photo Competition from the last issue.
You can view Pension News 21 online by clicking here.
The latest edition of Pensions News is being issued to all our members in early to mid June 2008.
This edition includes information about the Plan's investments, a change to our AVC providers and much more. Also in Pensions News 20, we are pleased to launch our Photo Competition. A full list of the competition rules can be viewed by clicking here.
You can view Pension News 20 online by clicking here.
The latest edition of Pensions News is being issued to all our members in early to mid November 2007. This edition includes a summary of the Plan's accounts, some information about our investment strategy and much more.
In addition The Summary Funding Statement is being issued to all members of the Coats Pension Plan following our Actuarial Report at 1 April 2007. This is also available online by clicking here.
You can view Pension News 19 online by clicking here.
Nov 2007
Nov 2007
Nov 2007
There have recently been technical changes to the way in which transfer values are calculated, due to the changes imposed by legislation on pension funds in the UK. As a result, our Actuary has reviewed the basis for transfer values for people who wish to transfer their pensions out of the Coats Plan.
A new basis will take effect for all transfers requested from 1 January 2008. In the meantime, anyone who requests a transfer value before 1 January will be asked to wait until after the new terms come into force, as changes have to be made to our systems.
If you wish to receive details of your transfer value, please contact us after 1 January 2008. Please accept our apologies for any inconvenience this delay may cause.
The latest edition of Pensions News has been issued. This edition covers our procedure for electing Member-Nominated Directors to our Trustee Board and contains some important information regarding changes to our Pensions Administration system, plus so much more!
Members of the Plan should receive their copy before the end of May. You can also view it online here.
The Summary Funding Statement has been issued to all members of the Coats Pension Plan following completion of Actuarial Valuation. Click here for more details and to view the revised Cash Commutation Factors.
The latest edition of Pensions News has been issued, around the same time as all those Christmas catalogues. We hope you'll find it even more stimulating than adverts for fibre optic Christmas trees, electric razors and foot spas!
Members of the Plan should receive their copy in late November, and you can also view it online here.
The Coats Pension Plan Trustee Report and Accounts for the year ended 31 March 2006 are now available and can be viewed by clicking here. You can also view them from the Forms & Factsheets section.
A summary of the the report and accounts will be the main focus of Pensions News 17, which we anticipate issuing to all our members in October/November 2006.
Spring is on its way, though the Scottish weather appears to think otherwise! In addition to trying to keep warm, the Pensions Office have been working hard on Pensions News 16. This is an important edition of Pensions News as it contains information about the major changes to pensions legislation coming into force on 6 April, known as 'A' Day. In addition to the newsletter, we have produced a factsheet for our active, deferred and pensioner members, setting out the changes relevant to them. This was necessary as the legislation is incredibly detailed, and could not be covered adequately in the newsletter format.
Members of the Plan should receive their copy in early to mid March, and you can also view it online here. You can view the accompanying factsheets by clicking on our Forms & Factsheets section.
For more information about 'A' Day, please click here.
The Civil Partnership Act 2004 came into effect on 5 December 2005 and allows same-sex couples to enter into a formal arrangement which gives legal rights similar to marriage. As a result, there are changes to pensions law, so that pension schemes must provide the same benefits for civil partners as they provide for spouses. Members who enter into civil partnerships will now be legally entitled to pension rights in relation to their partners. (Previously under the Coats Plan, where there was no spouse, a decision to award a 'dependant's pension' was at the discretion of the Trustee, and this decision had to be based on the degree of proven financial inter-dependence between the partners.)
Note too that where a civil partnership exists, and is dissolved, the
partner will acquire the same rights to a share of the member's pension
as applies on the divorce of a married couple.
Any member who has entered into a civil partnership within the terms of the new legislation should write to the Pensions Office with an original copy of the civil partnership document. We also need evidence of both partners' dates of birth, if this has not already been noted on the member's record. Original copies of birth certificates should also be sent, and for anyone whose name now is different from the name on his or her birth certificate, we will also need evidence of the name change (marriage certificate or deed poll giving effect to the change).
The Pensions Office should be promptly advised if any member has a change in formal relationship, name or address, or if a new Expression of Wish is needed. Change of Address and Expression of Wish forms can be downloaded from the Forms section, and any other changes should be notified in writing - please click here for our address.
We will amend the Plan rules to take the new laws into account in due course, and we will update you on any changes.
It's 400 years since the Gunpowder Plot, and this November a new issue of Pensions News will arrive at your home in an explosion of colour! This issue contains information about our new Chairman and a comprehensive Summary of the Plan's Accounts. In addition, a handy contact details card is attached. Members of the Plan should receive their copy in early to mid November, and you can also view it online here.
Please note: the telephone number for the Inland Revenue displayed on the contact details card should read 0845 070 3703. Please amend your card to show the correct number.
Sam Dow has steered the Trustee Board through a period of considerable change, both of ownership of the Company and investment and legislative change. Sam will provide consultancy advice to the Board for the next three months to ensure a smooth transition and we thank him for his valuable contribution during his Chairmanship of the Board.
In addition the following changes will be made to the Board of Coats Pensions Trustee Ltd with immediate effect. Sir Ron Brierley will resign from the Board and be replaced by Chris Healy of Guinness Peat Group and his alternate will be Roger Bevan of Coats.
The Directors of the Board of Coats Pensions Trustee Ltd are therefore:
Company appointed Directors:
· Laurie Todd, Guinness Peat Group
· Blake Nixon, Coats (alternate: Gary Weiss, Coats)
· Chris Healy, Guinness Peat Group (alternate: Roger Bevan, Coats)
· Didier Charreton, Coats (alternate: Mike Smithyman, Coats)
Member elected Directors:
· Alistair Macdiarmid
· Douglas Lawson
· Brian Notarianni
Independent Director:
· Mike Anthony, Capital Cranfield Ltd.
Further information will be provided in the next edition of Pensions News, which will be produced in the Autumn.
Everyone seems to be having a facelift these days and Harley is no exception. We've given the website a new look and feel and we've added some new features and sections. Check out our new Fun Section, which will be updated monthly. In response to your comments and feedback we've added an easy to find 'contact us' link from every page, and a helpful Jargon Buster section. We've also introduced a Meet The Team section so you can see what a good-looking bunch we are!
We hope you like the improvements we've made to our site - we'd like to hear your comments so please give us your feedback.
Spring has sprung and Pensions News 14 has been issued! This edition has lots of info on the new pensions legislation that's coming into effect, an update on what the pensions office is up to, pension pay dates for 2005 and lots more besides. Your copy should be with you in a day or few, but if you can't wait you can also view it online here.
The website will also be getting a bit of a spring clean and makeover - just as soon as we've finished dancing around the office maypole. Click back in a week or two to check out the new site!
Pensions News 13 has been issued! This edition includes a summary of the Plan's accounts, an update on recent pension legislation and much more. Pensions News is distributed to Active members by their Unit Pension Officer, and is mailed directly to all our Deferred and Pensioner members and should be with you by 15 October. You can also view it online here. If you haven't received your copy by 15 October, please contact us.
The Trustee has been advised by the Plan's Actuary to use new AVC factors to convert AVC funds to pension from July 2004. This reflects movements in the market generally, as well as the fact that life expectancy has improved, with the result that the pension that can be provided for the same amount of AVC fund built up has reduced.
Despite
the change in rates, they remain better than the comparable standard annuity
rates available from insurance companies.
Blake Nixon (alternate Gary Weiss, Coats Chairman)
Didier Charreton (alternate Mike Smithyman, Coats CEO).
Additionally,
Laurie Todd (CEO, Staveley Industries, a subsidiary of GPG) is appointed
alternate to Sir Ron Brierley. The changes are effective from 15 July
2004.
With effect from 1 July 2004, Coats Holdings plc (formerly known as Avenue Acquisition plc) will change its name to Coats plc and move its registered office to Stockley Park.
Coats plc will become the top company in the group structure operating out of Head Office.
On this same day, Coats Ltd (formerly known as Coats plc) will change its name to Coats Holdings Ltd.
The charts below summarise the changes to the corporate structure over the last few months:
April 2003: after the offer for the acquisition of Coats plc by Avenue Acquisition plc
November 2003: Avenue Acquisition plc changed its name to Coats Holdings plc in May 2003 and Coats plc was re-registered as a private company under the new name of Coats Ltd
July 2004: now a fully owned subsidiary of Guinness Peat Group plc, Coats Holdings plc is renamed Coats plc; on the same date, Coats Ltd is renamed Coats Holdings Ltd
