UTC (UK) Pension Scheme - Member Newsletter 2023

The Trustee's annual newsletter to members, including the Scheme's summary funding statement.


Newsletter November 2023

What’s inside?


Welcome to this year’s update from the Trustee of the UTC (UK) Pension Scheme, bringing you the latest news from the Scheme and pensions industry and highlighting those developments that may have an impact on your retirement benefits.

Changes to the Trustee Board Since the end of the Scheme year, two of our Company-selected directors have left the Trustee Board. The Company has appointed their replacements. We welcome Greg Hawes and Julie Sullivan to the Trustee Board and would like to thank Steven Hill and Joe Fazzino for their services to the Scheme and its members during their time as Trustee directors. You can find out who else is on the Investment markets since the last newsletter was issued have remained unpredictable and volatile, with gilt yields continuing to rise. The Scheme continues to follow the de-risking strategy set by the Trustee in 2021, which has ensured that our funding position remains stable and we are on track with our plans to achieve a low dependency on the Company/ self-sufficiency funding position for the Scheme by the mid-2030s. I would like to end by thanking my fellow Directors, our trusted advisers and the RTX Pensions Team for their commitment and hard work over the past year. They have all helped to ensure that the Scheme remains in a strong and resilient position. Greg Smart, Chair of the Trustee UTC (UK) Pension Scheme Trustee Board on the back page. Ongoing investment challenges

It will take only 15 minutes to read this newsletter, which contains important information for all members, so I’d encourage you all to make time for your pension. You will no doubt be aware that there was considerable investment market volatility last year, particularly in the autumn. The Trustee’s investment strategy, which aimed to ensure that the Scheme’s fully funded position was maintained even in the event of serious instability in financial markets, has therefore worked as intended, and the funding level has remained broadly stable and unchanged throughout this challenging period. While the Scheme is now smaller in asset value terms than at the beginning of the year, the Trustee can reassure you that there are no concerns regarding the Scheme’s ability to meet its obligation to pay benefits to members now and in the future. The Scheme’s funding position remains strong. Summary Funding Statement Each year, our Scheme actuary updates the previous formal valuation with an estimate of the funding position. On page 14 of this newsletter, you will find a reminder of the results of the formal valuation on 31 December 2021 and the estimated update 12 months later at 31 December 2022. This update showed very little change to the funding level and indicated that the Scheme continues to have a surplus on an ongoing basis.


Pension news Changes to pensions tax allowances The Lifetime Allowance (LTA) is a limit set by the government on the total amount of tax-free pension savings you can build up over your lifetime. In its Spring budget, the government advised that

Members should also be aware that scammers are operating as so-called claims management companies and attempting to use ‘subject access requests’ to obtain personal information and details about a saver’s pension arrangements. Please be particularly vigilant if you are approached in this context. Scam tactics include: • contacting you out of the blue • promises of high or guaranteed returns • free pension reviews • access to your pension before age 55 • pressuring you to act quickly. If you are considering transferring your benefits out of the Scheme, please be extra vigilant. While the Trustee can block a transfer if the administrator’s checks raise any red flags, staying alert to scams remains a joint effort. Find out more about scams at www.fca.org.uk/scamsmart Delays to the pensions dashboard The government has announced a further delay to the pensions dashboard project which is now not expected to launch until October 2026. The dashboard aims to provide a single point of reference for members to view information The State pension age is set to rise from 66 to 67 by 2028. The government had considered bringing forward the planned rise to 68 to 2039 (rather than 2044-46) but it confirmed recently that it would stick to the original timetable. The normal minimum pension age (NMPA), the age below which you are not permitted to take your retirement benefits, except in limited circumstances, is also due to increase, from 55 to 57, in 2028. about their pension savings, as well as potentially offer a means of reuniting people with their lost pension pots. Rising pension ages

the LTA (which is currently frozen at just over £1 million) would be abolished completely from April 2024 and the charge for exceeding it would be zero in the 2023/24 tax year. This is subject to the necessary laws being passed. If you are still paying into a pension scheme, the government has also raised the amount of pension contributions you can make in a year that get tax relief. This is called the Annual Allowance (AA), and in April 2023, it increased from £40,000 to £60,000. However, if you are a high earner with an annual income over £200,000, your AA may be reduced by a tapered amount, and it could be as low as £10,000. If you have already accessed any defined contribution pension savings flexibly, you will have a restricted AA called the Money Purchase Annual Allowance (MPAA). From April 2023, this increased from £4,000 to £10,000. Don’t let a scammer ruin your retirement Recent research by the Financial Conduct Authority and the Pensions Regulator found that half of pension savers do not believe that they are at risk of being targeted by a pension scammer. Pension scams can happen to anyone. Scammers can be articulate and financially knowledgeable, with credible websites, testimonials and materials that are hard to distinguish from the real thing. They design attractive offers to persuade you to transfer your pension to them or release funds from it. It is then invested in unusual and high-risk investments, like overseas property, renewable energy bonds, forestry and storage units, or simply stolen outright.


Scheme noticeboard

Cyber risk and resilience

Goodrich Section members: administration changes to be aware of

Cyber attacks can affect individuals, companies and even governments – and the pensions world is not immune. Pension schemes hold large amounts of data and assets which can make them a target for criminals and fraudsters. You may have seen media reports of recent breaches affecting the company pension schemes of a number of household names, following a cyber attack on Capita. The Trustee takes cyber security extremely seriously and includes cyber risk on its risk register, which is reviewed and updated regularly. The Scheme has internal controls in place to identify and minimise the risk of a cyber incident occurring. Working closely with the Scheme administrators, the Trustee monitors the administration and management of the Scheme to ensure that its cyber security policies and controls remain effective.

For Goodrich Section members whose pensions are administered by Mercer, please be aware that Mercer’s UK pension administration business will become part of a new company called Aptia. In time you might start to see the Aptia name and logo appear on letters you receive about your Scheme pension. However, the Trustee has also been considering for some time whether to consolidate the administration of the Scheme. The Scheme currently has two administrators, Buck and Mercer, and the Trustee has decided to appoint Buck to administer all the sections in the Scheme. The Trustee’s expectation is that consolidating the administration will improve and simplify the experience for all members and result in costs savings for the Scheme. We will contact all Goodrich Section members (those currently administered by Mercer) in due course, but please rest reassured that all parties involved in the exercise to transfer the Goodrich Section administration to Buck are working hard to ensure a smooth and seamless transition for affected members. The transfer is expected to take place in mid-2024. There will be a short period of time during which Goodrich Section members will be administered by Aptia (see above) before the administration is transferred to Buck, but these changes won’t have any impact on members’ benefits. Members of the Scheme who are already administered by Buck (non-Goodrich Sections) are unaffected by the changes.


Forfeiture of unclaimed benefits after six years

Attention: are you planning to retire late?

As with many pension schemes in the UK, the Scheme Rules contain a forfeiture provision. If you do not take your Scheme pension at your Normal Retirement Age, any pension instalments not taken within six years of them becoming due may be forfeited. This is extended to eight years in relation to any Guaranteed Minimum Pension (GMP) that you have. GMP is an element of pension that some members built up between April 1978 and April 1997, as a result of being contracted-out of the State Earnings Related Scheme (SERPS).

If you think you might want to take your benefits after your Normal Retirement Age (NRA), which is age 65 for most members, please be aware that in some cases the Trustee must be notified of this in writing before you reach your NRA. Check with your administrator before you reach NRA to establish whether you are permitted to retire late under the Scheme rules, and if so, what information needs to be provided to the Trustee in advance. If the above process is not followed, then the Trustee may not be able to honour a request to take late retirement under the Scheme.

Equalising pensions – an update on Guaranteed Minimum Pensions (GMP)

Benefits payable on death

We are continuing to work on our GMP equalisation project, which involves addressing historic gender inequality in GMPs. This is a very large and complex project, and we are pleased to have completed the stage of reviewing our member data. The next step is to analyse the data ahead of calculations being produced. We will be in touch with anyone who is affected by this work, although please remember that any adjustment due to your benefits as a result of GMP equalisation is likely to be relatively small.

In the event of your death, a spouse’s pension is usually only payable to your legal spouse or civil partner from the Scheme. However, it may not be payable to a long-term partner who is not a spouse or civil partner. Therefore, you may want to check the benefits that are payable upon your death. You can do this by contacting your Scheme administrator using the contact details on the back page.


Money matters

Each year, the Trustee arranges for a formal Report & Accounts to be prepared, showing how much money has gone into and out of the Scheme.

The information is audited so that members can be sure it accurately reflects the Scheme’s transactions over the year.

You can view the full report online at https://online. flippingbook.com/view/47529

This table summarises the key figures from the accounts for the year to 31 December 2022. Ins and outs The table below shows the money going into and coming out of the Scheme over the year:


Value of the fund at 1 January 2022


Income Company contributions

3,363 3,363

Total income

Expenditure Benefits paid

(59,332) (35,606) (3,101) (98,039)

Transfers to other plans Administrative expenses

Total expenditure


Net returns on investments

Value of the fund at 31 December 2022


Note that any figures shown in brackets are negative amounts.

Our membership The chart below shows the Scheme’s membership at 31 December 2022. As of 1 April 2020, the Scheme was closed to future benefit accrual; therefore, all active members became deferred members of the Scheme from this date.

Deferred members 3,775 Pensioners (including Dependants) 4,989

Total 8,764


Investment matters The Scheme’s investment strategy sets out how the money that has built up to pay members’ benefits is to be invested. The strategy is set by the Trustee after taking advice from their appointed investment consultants, Barnett Waddingham.

Investment objective and de-risking framework

A large proportion of the assets of the Scheme were invested in the UTC Common Investment Fund (CIF). The investments in the CIF are kept entirely separate from those of the Company. The Trustee has delegated the day-to-day decision-making about our investments in the CIF to the Investment Sub-Committee (ISC). The ISC, with help from its advisers, selects specialist investment managers to buy and sell individual investments in their area of expertise. Our current advisers and managers are listed on the back page. Investing for a better future Increasingly, trustees of pension schemes in the UK are considering environmental, social and governance (ESG) factors when they select their investments. The Scheme’s Statement of Investment Principles (available online at https://online. flippingbook.com/view/359640/10 ) sets out the Trustee’s approach to investments and includes our policy on incorporating ESG into our investment decisions. We are pleased to publish our first Task Force on Climate Related Financial Disclosures (TCFD) report, which is available online at https://online. flippingbook.com/view/667561390 . The report sets out how we assess, monitor and manage the Scheme’s exposure to climate risks and opportunities.

The long-term aim of the Scheme is to be fully funded on a ‘self-sufficient’ basis, such that the Scheme can invest in low-risk assets (e.g. gilts)

that closely match its liabilities. The Trustee regularly monitors the

funding position and has in place a ‘dynamic de-risking framework’ with a system of triggers which enables it to move swiftly to bank gains when there are improvements in the funding position. Moving to a lower target when affordable means less risk is taken and further increases the security of members’ benefits in the Scheme. During the year covered by this newsletter, the Scheme sold investments in equities and target return funds totalling almost half a billion pounds and reinvested the majority of these holdings in lower-risk assets with Insight, Aviva, BlackRock and Legal & General.


Investment performance The returns versus their respective benchmarks for the Scheme’s assets held within the CIF over the one, three and five-year periods to 31 December 2022 have been as follows: 1 year (%) 3 years (% p.a.) 5 years (% p.a.) Scheme return (35.36) (8.66) (3.90) Benchmark (34.54) (8.45) (3.42) Note that any figures shown in brackets are negative amounts. In addition, the above performance data only relates to assets held under the CIF.

Market turbulence in 2022 In last year’s newsletter, we talked about the impact of the mini budget on defined benefit pension schemes that invest in gilts (government bonds). Many schemes use gilts as part of an investment strategy called liability driven investment (LDI) that seeks to track the changes in a scheme’s liabilities to help protect the overall funding position. Furthermore, some schemes hedge their LDI assets, which enables more risk to be covered with a lower amount invested. These LDI hedges require schemes to provide collateral to counterparties as security. When the value of gilts fell, they caused the value of the LDI portfolio – but also the liabilities it is held to match – to fall. Where schemes had hedged these liabilities, they were required to provide cash to maintain these positions, and some trustees had to sell other assets in order to cover these ‘collateral calls’. After the crisis hit last year, the Pensions Regulator issued new guidance to schemes on using leveraged LDI, with a requirement to maintain a certain level of liquidity to meet collateral calls when rates change. The Investment Sub-Committee and the Scheme’s investment consultants are pleased to say that the Scheme is already substantially compliant with the guidance, so no further actions were considered necessary in order to protect the Scheme.

The Trustee continues to monitor the Scheme’s investments and market developments and will take any further actions which may be required to ensure the integrity of the Scheme. It is important to remember that, as a member of a defined benefit (DB) pension scheme, market values do not affect the value of your benefits, and it is the Trustee’s responsibility to ensure that all benefits due to Scheme members are paid in full. Investment split The investment strategy includes allocating some of the Scheme’s assets to investments which aim for long-term growth. They make up the growth portfolio. The rest of the Scheme’s assets are allocated to investments which aim to protect the Scheme from changes in interest rates and inflation. These include secure income assets (bonds) and liability driven investments (LDI), which make up the protection portfolio. A copy of the Scheme’s Statement of Investment Principles (SIP) that was in place at the Scheme’s year-end of 31 December 2022 can be found online here: https://online.flippingbook.com/ view/359640/4/ The Trustee has recently reviewed the allocation of assets across these portfolios and has updated the Scheme’s SIP, as at August 2023, to reflect the outcome of their review and the de-risking strategy mentioned earlier on in this newsletter. A copy of the revised SIP can be found online here: https://online.flippingbook. com/view/754805965/




Target Return Secure Income

13.00% 11.57% 33.27% 30.04%

Buy and Maintain Bonds


Cash Total

3.02% 100%

• The insurance policy in respect of ex-Sutrak members of £1.012m • Members’ additional voluntary contribution (AVC) investments of £23.2m held in the Scheme’s various AVC policies.

The chart shows how the assets in the Scheme were allocated to these portfolios as at 31 December 2022. The above table does not include the value of the following assets held by the Scheme outside of the CIF: • The income-producing asset backed funding arrangements of £212.6m If you paid AVCs AVCs are extra contributions you may have paid into the Scheme while you were a contributing member. This pot of money is invested, so the value of your AVC account can go up or down in line with market changes. • If your AVCs are with Scottish Widows The lifestyle investment strategy is the default investment for your AVC funds, unless you decided to move your funds elsewhere. A lifestyle investment strategy will gradually adjust and move your funds into lower-risk investments, as you get closer to retirement. The lifestyle investment strategy assumes you will want to take this money as cash at retirement, and your AVC fund will therefore be fully invested in cash at your selected retirement date. This is probably suitable for most members, who might want to put their AVC account towards their tax-free cash allowance at retirement, but you may have something else in mind, in which case this approach might be too cautious. It’s important to review your investment choices regularly, particularly as you approach retirement, to make sure they remain appropriate to your individual circumstances. You can find out

more about your investment options in this document prepared by Scottish Widows: bit.ly/3ZqW6na or visit the Scheme’s Scottish Widows infosite: bit.ly/45HcKjL • If your AVCs are in a Standard Life with-profits fund Some members have AVCs in a with-profits fund managed by Standard Life. Standard Life informed the Trustee of its intention to transfer its insurance business (including these with-profits funds) to Phoenix Life Limited (PLL). The transfer received court approval on 3 October, so at the time of going to print, the transfer of your with- profits AVCs investment was expected to take place on 27 October. The only change you will notice is that your next benefit statement will be issued by PLL rather than Standard Life. If you have any questions about the transfer, you can explore the dedicated area of Standard Life’s website at www.standardlife.co.uk/businesstransfer or call the freephone helpline on 0808 196 6804, 9am to 5pm Monday to Friday, excluding bank holidays. If you live abroad, please call +44 (0) 1234 298 298 (there will be a charge for this number).


Join the dots to retirement For many people, retirement is no longer a finite

date, but instead marks a progression to a new way of life that for some can include part-time working or even a complete career change in later life. Review how much money you’ll need If you’re not sure how much you’ll need, you’re not alone. Happily, the Pensions and Lifetime Savings Association has researched how much income people need each year in retirement to have a minimum, moderate or comfortable standard of living. These are today’s amounts (and were updated recently to take account of the current high cost of living), but to have the same spending power when you retire, you’ll also need to allow extra for future inflation. You can use this as a guide to see if you’re on track.

For a single person

For a couple

minimum covers all your needs with some left over for fun moderate more financial security and flexibility comfortable more financial freedom and some luxuries







To find out more, visit www.retirementlivingstandards.org.uk

Don’t forget your State Pension Most people will be eligible for some State Pension, based on their National Insurance record. You need at least 10 years of credit to receive the basic level – and, if your retirement income is very low, you might also be able to apply for a top-up called Pension Credit. Pension Credit is useful because it helps unlock many other benefits – for example, a free TV licence. The State Pension Age has been under review in recent years, so the earliest you can claim yours will depend on the year you were born. You can find out what your State Pension Age is at: www.gov.uk/state-pension-age or call the Future Pensions Centre on 0800 731 0175.

Where can you save money? If you’re on a fixed income, it makes sense to save cash where you can. If you’re married or in a civil partnership, you might want to check if the marriage allowance would reduce your (or your partner’s) tax bill. This is where the non-taxpayer can transfer 10% of their personal tax-free allowance every year to their partner or spouse. This can be backdated, up to four years if applicable. Find out more on the government website www.gov.uk and search for ‘marriage allowance’.


Track down your old pensions The government was hoping to launch pensions dashboards this year, which would make it easier for you to see all your old pensions in one place. Unfortunately it’s been delayed, but you can continue to use the government’s Pension Tracing Service to track down any old or lost pensions without charge. You can phone the service directly on 0800 731 0193, or visit www.gov.uk/find- pension-contact-details for more information. Time to take advice? If you’d like to get some help making this life-changing decision, you can find a regulated financial adviser local to you on the government’s MoneyHelper website ( www.moneyhelper.org.uk ) and search ‘Find a retirement adviser’. If you have AVCs or some other defined contribution pension pot you can use the free Pension Wise guidance service, also available through the MoneyHelper website. The Financial Conduct Authority regulates financial markets and the companies which provide financial services in the UK. You can use its register to check that the company or person you’re dealing with is listed and authorised to provide specific financial services. www.fca.org.uk

Wellbeing in retirement It’s important to keep your mind and your body active during retirement. Here are some details of organisations that promote health and wellbeing in retirement. Age UK www.ageuk.org.uk Advice line: 0800 169 6565 Care UK www.careuk.com ‘Do-it’ – Volunteering Made Easy! www.doit.life Expats Guide to Moving Abroad www.expatforum.com Homesitters Ltd

www.homesitters.co.uk Tax Help for Older People www.taxvol.org.uk The Conservation Volunteers www.tcv.org.uk University of the Third Age (U3A) www.u3a.org.uk


Your retirement choices If you have not started taking your pension from the Scheme yet, are you aware of your options? When can I start taking my pension benefits?

If you choose to transfer out You can typically choose from the following options if you have reached NMPA: • Take your retirement savings as a cash lump sum, or a number of cash lump sums; • Invest in a defined contribution (DC) income drawdown arrangement – leave your money invested and draw as much as you want when you need it until it has gone; • Purchase an annuity (pension for life) with an insurance company, to suit your circumstances (such as providing benefits to your dependents, or having annual increases). You can usually choose one of the above options, or a combination. Typically 25% can be taken tax free, with the remainder taxed as income. If you’re under NMPA, or over and don’t want to start accessing your retirement savings straight away, you can transfer your benefits into a DC arrangement of your choice and then choose from the options above once you’re at or over NMPA.

The Scheme, which is a defined benefit (DB) arrangement, has a Normal Retirement Age (NRA) of 65 for most members – the age you are expected to start taking your pension benefits. However, you may be able to start taking your pension benefits earlier, from the Normal Minimum Pension Age (NMPA), currently age 55, subject to Trustee approval. What are my options for taking my benefits? Take your pension benefits from the Scheme once you reach your NRA which may include: • A monthly pension which increases annually in line with the Scheme Rules (broadly in line with inflation)* • The option to take up to 25% of the value as tax-free cash* • Benefits for your dependents upon your death. OR If your pension benefits are classed as ‘small’ (£10,000 or less, or £30,000 or less if all pension savings that you have don’t exceed this amount) you can request to take these as a cash lump sum (25% would be tax free with the remainder taxed as income). OR Transfer your pension benefits out of the Scheme into a pension arrangement of your choice, any time up to one year prior to your NRA, and take them in a way that suits you. *Your pension is likely to be reduced if 1) you take it before your NRA, to allow for the fact that it would likely be paid for longer, and/or 2) if you choose to take tax-free cash.


Make sure you make the right decision for you! If your defined benefit (DB) transfer value (as calculated by the Trustee) is more than £30,000, you are required by law to take professional financial advice before you are able to transfer your pension benefits out of the Scheme. However, we recommend that you seek financial advice even if your transfer value is lower. If you are considering transferring your pension benefits out of the Scheme, please read the article on page 3 which advises on pension scams and what to look out for.


Summary Funding Statement 2022

The actuary does a formal valuation of the Scheme every three years and, for the years in between, provides the Trustee with an estimate of how the funding position has changed. The latest formal valuation was carried out as at 31 December 2021 and an update was carried out as at 31 December 2022. The next formal valuation is due as at 31 December 2024 and the Trustee will share the results of this valuation in 2025. Results of the actuarial update as at 31 December 2022 The table below summarises how the Scheme’s assets compared with its liabilities as at 31 December 2022, the date of the actuary’s latest estimate. The results of the previous actuarial valuation as at 31 December 2021 are also shown. For the purpose of comparing assets and liabilities in the table below, Additional Voluntary Contributions (AVCs) have been excluded from both the assets and liabilities. The ‘funding level’ is the measure by which the value of the assets cover the value of the liabilities. So if, at the valuation date, the Scheme is expected to have enough money to meet the full cost of all members’ benefits, the funding level is 100% or above. Each year the Trustee provides you with a statement of the Scheme’s financial position to help you understand the state of the Scheme’s finances.

Actuarial report (estimate) 31 December 2022

Actuarial valuation 31 December 2021


£1,605m £1,446m

£2,535m £2,288m





Funding level



As you can see, the value of the Scheme’s liabilities reduced over the year, which was caused by changes in market conditions, but this reduction was broadly matched by a fall in the value of the Scheme’s assets. The end result is that the funding level has remained unchanged.

For your information, there have been no payments out of the Scheme’s surplus funds to the Company since the last Summary Funding Statement.


If the Scheme had discontinued and had been wound up As part of the 2021 valuation exercise, the actuary was required to calculate a wind-up cost. This does not, however, mean that the Company is thinking of winding up the Scheme. It was estimated that if the Scheme had been wound up, the Scheme’s assets would have been sufficient to cover 81% of the amount needed to buy insurance policies to provide all members’ benefits earned up to 31 December 2021. If the Scheme were to start winding up, the Company would be required to pay enough money into the Scheme to enable the Trustee to buy insurance or annuity policies. If the Company is unable to pay the full amount to secure benefits because it is insolvent, the Pension Protection Fund (PPF) might offer the Scheme’s members compensation instead of their benefits. This means that if the Scheme is discontinued and wound up, you might not get your full pension if the funding position is less than 100% on the winding-up basis. Find out more about the PPF at: www.ppf.co.uk or by emailing them at: information@ppf.co.uk Pensions Regulator’s powers – section 231 of the Pensions Act 2004 The Pensions Regulator has not subjected the Scheme to any use of its powers under section 231. These powers include the power to modify the Scheme for future accrual of benefits, subject it to directions about how its technical provisions are to be calculated or how quickly any deficit has to be cleared, or to impose a schedule of contributions.


Your pensions team The Scheme is run by a trustee company called UTC Pension Trust Limited (the Trustee), whose Board of Directors appoint specialist advisers to help them in this task. Some of the directors are selected by the Company and some are nominated by the members of the Scheme. The current Trustee Board comprises:

Our advisers Administrator Buck Consultants Limited for non-Goodrich Sections Mercer Limited for the Goodrich Section Joe Fazzino – Vice President, Deputy Chief Investment Officer, Pension Investments, RTX (resigned 17/5/2023) *Raytheon Technologies Corporation changed its name to RTX in July 2023. Member nominated Robin Smith – member of the Kidde Section Ian Hayward – former member of the Goodrich Section Company selected Greg Smart (Chairman) – member of the Otis Section Ken Levine – Executive Director, Global Retirement Strategy, RTX* Greg Hawes – Associate Director, Benefits Finance, RTX (appointed 8/3/2023) Julie Sullivan – Senior Director, Pension Investments, RTX (appointed 17/5/2023) Steven Hill – member of the Kidde Section (resigned 31/12/2022)

Actuary Oliver McCulloch FIA, Barnett Waddingham LLP Investment adviser Barnett Waddingham LLP – investment advisers to the UTC Common Investment Fund Investment managers UTC Pension Trust Limited – Administrator to the UTC Common Investment Fund Aviva Investors BlackRock Investment Management (UK) Ltd First Eagle Investment Management LLC Insight Investment Management Legal & General Assurance (Pensions Management) Limited M&G Investment Management Phoenix Life Ruffer LLP Auditor PricewaterhouseCoopers LLP Legal adviser Shoosmiths LLP Secretary to the Trustee Julie Beake, RTX Pensions Manager

Who to contact If you have a question about the Scheme or your benefits, please get in touch with the relevant administrator for your section.

UTC (UK) Pension Scheme (non-Goodrich Sections) Buck PO Box 322 Mitcheldean Gloucestershire GL14 9BH Tel: 0330 123 9563 Email: utcpensions@buck.com

UTC (UK) Pension Scheme (Goodrich Section)

Mercer Limited Maclaren House Talbot Road Stretford Manchester M32 0FP Tel: 0330 808 9576 https://contact.mercer.com/blue

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16

Made with FlippingBook - professional solution for displaying marketing and sales documents online