NHBC Pension Scheme
Annual report for the year ended 31 March 2020
Please note that this Governance Statement only relates to members with an AVC Account or a Transfer Account in the NHBC Pension Scheme. This scheme closed to new members on 31 December 2002 and to future benefits on 31 March 2014.
This statement has been prepared by the Trustee of the NHBC Pension Scheme ("the Scheme") in accordance with the Occupational Pension Schemes (Scheme Administration) Regulations 1996. It describes how, in relation to the Defined Contribution (DC) arrangements under the Scheme, being the AVC Accounts with Aviva and Transfer Accounts with Prudential (collectively referred to as the 'DC accounts'), it has complied with the applicable statutory governance standards that cover the following key aspects affecting the operation of the DC accounts:
- The level of charges and the extent to which they represent good value to members
- The monitoring of core financial transactions
- How the Trustee ensures it has sufficient knowledge so that the DC accounts are well run.
This statement covers the period from 1 April 2019 to 31 March 2020, the Scheme's financial year.