UNITED TECHNOLOGIES CORPORATION (UK) PENSION SCHEME YEAR ENDED 31 DECEMBER 2024
STATEMENT REGARDING DC GOVERNANCE
Taking account of actions taken individually and as a trustee body, and the professional advice available to them, the Trustee considers that it is enabled properly to exercise its functions as Trustee.
DC Scheme governance
As Trustee Directors of the United Technologies Corporation (UK) Pension Scheme, we have reviewed and assessed that our systems, processes and controls across key governance functions are consistent with those
General Code of Practice which applied to governing bodies of occupational, personal and public- service pension schemes during the Scheme Year.
Technical appendix to the quick guide. Regulatory guidance for DC schemes.
These are underpinned by the DC quality features. The Trustee Directors reviewed the following Scheme documents with regards to the DC arrangements:
Policy on Benefit Corrections the DC Governance Statement the Implementation Statement
the Scheme Continuity Plan the Effectiveness of Trustee Decision Making Questionnaire
the Conflicts of Interest Policy the Transfer-Out Dashboard the Trustee Calendar the Internal Dispute Resolution Procedure The Trustee has also received advice on the following areas: Employer Restructure Deed of Amendment for Late Retirement Deed of Amendment for permitting UFPLS payments at retirement for members with additional DC/AVC benefits Permitting Pension Commencement Excess Lump Sum payments at retirement
Transfer of administration services from Mercer to Buck Value for Members Assessment in respect of DC benefits
Based on our assessment we believe that we have adopted the standards of practice set out in the General Code of Practice and DC regulatory guidance. These help demonstrate the presence of DC quality features, which we believe will help deliver better outcomes for members at retirement.
This statement was approved by the Trustee on the date below and signed on its behalf by the Chairman.
Gregory Smart
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