News

Normally, towards the end of the year, we send out an issue of Pensions News. The Trustee has decided to postpone the distribution of Issue 37 and has issued an explanatory communication to members.

The autumn newsletter would normally advise the pension payment date for January. This date has been included in the Trustee’s communication, but for ease of reference we will also give it here: January’s pension instalment will be paid on 20 December 2016.

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

You can also view it online here (you will need the secure area password): click here

The 2016 Trustee Report and Accounts for the Coats Pension Plan is now available. View it online at our new My Coats Pension site (you will need to register if it’s your first visit): https://secure.coatspensions.co.uk

Following an employee consultation with its Coats Crafts UK employees, the company has decided to wind down and close Coats Crafts UK. This decision does not affect deferred or pensioner members of the Coats Pension Plan.

Normally we send you your annual AVC statement around the end of June, however, Friends Life have a new computer system which is causing a delay printing the statements. At the moment they are unable to provide us with a timescale of when these will be issued. If you would like to see how your AVC fund is performing you can log on to the Friends Life website at www.friendslife.co.uk/membersite.

As of 30 June 2016, the Coats Pension Plan is closed to existing employees following the closure to new members in 2014. From 1 July 2016, Coats employees will be able to join the defined contribution (DC) scheme, operated on the Company’s behalf by Standard Life. More information about the new Coats DC Pension Scheme can be found by clicking here.

This will have no impact on deferred members or those whose pension is already in payment.