News

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.

Coats Pensions Office remains closed to staff and visitors until further notice.

Please note that in these exceptional circumstances, we may not be able to meet our normal timescales and processing may take longer than the service levels indicated on our website.

We are working hard to minimise the impact of the office closure and we would be grateful for your patience at this time. Our main priority is that we continue to pay our pensioners on time.

Given the constantly changing circumstances and the uncertainty around Coronavirus, this information is subject to change and may be updated as appropriate when more information becomes available. The information provided is correct at the time of publishing. It is not intended to be and should not be construed as advice.

As advised in our newsletter – The Link – issued in December 2019, the Trustee has agreed to harmonise the pension payment dates for the Coats UK Pension Scheme.

If you were a member of the former Coats Pension Plan or former Staveley Industries Retirement Benefits Scheme, starting from the February 2020 payment your pension will be paid to you a few days earlier than before – on the 28th of the preceding month; the February payments will be made on 28th January. If you were a member of the former Brunel Holdings Pension Scheme, there will be no change to your pay date.

Pensions continue to be paid in advance. When the 28th falls on a bank holiday or weekend, your pension will be paid on the working day prior to the 28th.

Please refer to your covering letter for further information about pay dates in 2020.