The Staveley Industries Retirement Benefits Scheme (SIRBS) had been in operation since 1954. Staveley Industries plc, an engineering and support services group, was acquired by Guinness Peat in 2000.
SIRBS is a “closed scheme” meaning that there are no members still paying into it.
In 2003 GPG acquired Coats plc. SIRBS, along with The Coats Pension Plan and The Brunel Holdings Pension Scheme, was then part of the same group of companies – GPG – which was renamed Coats Group plc in 2015.
On 1 July 2018, the 3 pension schemes merged to become Coats UK Pension Scheme.