News

We are pleased to advise that the Summary Funding Statement following the actuarial valuation as 31 March 2021 is now available.

Members of the Scheme can view this communication online in the members-only section (you will need the secure area password): click here

The Funding Statement is located in the Factsheets section towards the bottom of the screen

New transfer out pension legislation was introduced on 30 November 2021.  As with a number of schemes, the Trustees made the decision to implement a temporary hold (called a moratorium) on all transfer requests received on or after this date. The moratorium is in place for at least 6 weeks and means that we will be unable to process any transfer requests in this time. This will allow the Scheme time to update our communications, processes and procedures and ensure the Trustees are compliant with the changes.  Should you wish to request a transfer, please contact us after mid-January 2022.  Please also note that most members are entitled to one transfer value quotation free of charge per 12 month period. Please click on link below for more information about the new legislation.

https://www.thepensionsregulator.gov.uk/en/pension-scams/dealing-with-transfer-requests#72a072316d1246acaffdb536980e1322

Issue 4 of the Coats UK Pension Scheme newsletter – The Link- is now available. In this issue: Scheme Report and Accounts, Pensioner Paydates, Pension Scams and much more.

Members of the Scheme can view this communication, along with the covering letter relevant to their former scheme, online in the members-only section (you will need the secure area password): click here

We are pleased to advise our members with AVCs that AVC Statements for the year ended 31 March 2020 are now available to view on My Coats Pension. We apologise that, as a result of the pandemic, these statements are available later than usual.

As previously advised, AVC statements are not posted out unless members specifically request a paper copy. Instead, they are uploaded to our secure site My Coats Pension. This change helps us to reduce postage costs and reduces our environmental impact by minimising the amount of paper we use.
 
To view your AVC statement, please go to https://secure.coatspensions.co.uk. If you haven’t already done so, you will need to follow the registration process.
 
If you don’t have access to the internet, we need you to tell us in writing that you want us to send you paper statements. Please write to the Pensions Office, include your name, address, pension reference number and date of birth and state that you wish to receive your communications by post.

In accordance with requirements to provide information to members who have money purchase benefits, including Additional Voluntary Contributions (AVC) funds, the Trustee has made information regarding charges and transaction costs associated with these funds available on the Coats Pensions website at:https://www.coatspensions.co.uk/dc-governance-statement

Issue 3 of the Coats UK Pension Scheme newsletter – The Link – is now available. In this issue: Scheme Report and Accounts, Fraud Prevention, Trustee Changes and much more. An Annual Funding Statement, showing the funding position of the Scheme as at 31 March 2020, is also available.

View these documents online at our My Coats Pension site (you will need to register if it’s your first visit): https://secure.coatspensions.co.uk

You can also view them online in the members-only section of this website (you will need the secure area password): click here. The link to the funding statement is in the Factsheets area of this section.