Communication and consultation

Over the three months from 3 June until 2 September the company consulted with you and the Pensions Consultative Council about the proposed changes. We prepared a full programme of communication materials to help you understand the proposal and take part in the consultation process; the most important items are set out below:

  1. Pension consultation guide – The guide outlined the proposed changes and explains how they would affect your pension.
  2. Road shows – Road shows were held across the country, to explain the proposed changes in more detail and give you a chance to ask questions.
  3. Personal Illustration – At the end of June, we issued a personal illustration, which showed you the pension you have built up in the Final Pay Section to 31 October 2011, and the PensionBuilderplus pension you could build up in the Plan, going forward.
  4. Feedback – your views and feedback were important to the consultation process.