Noticeboard

The Plan’s Privacy Notice has been updated to reflect the new requirements under the Data (Use and Access) Act 2025.  The changes include revised information on how the Trustee shares and processes your personal data and a new section setting out how you can complain to the Trustee if you have any concerns over how your personal data is processed.

 

The updated Privacy Notice can be accessed here Plan Privacy Notice.

CRISP invests defined contribution assets in a range of funds that are available on the investment platform provided by Aviva.  The platform is accessed via a long-term insurance policy between the Trustees and Aviva.  Aviva is regulated by the Financial Conduct Authority.  In the event that Aviva becomes insolvent, the Trustees are eligible for protection under the Financial Services Compensation Scheme (‘FSCS’).  This means that the Trustees may be able to make a claim (on behalf of members) for 100% of its policy value with Aviva in the event of a default by Aviva.

 

The Trustees have agreements in place with Aviva, who in turn has agreements with the individual fund managers that set out guidelines for the underlying investments held by each fund.  Day-to-day management of the investment arrangements, including the indirect management of credit and market risks, is the responsibility of the underlying fund managers.  The Trustees monitor the underlying risks by reviewing investment performance and risk through ongoing governance and quarterly investment reports.

 

At their last assessment, the Trustees were satisfied with the level of protection available to members’ assets and believe that risks to the security of assets are being minimised where possible.  The Trustees continue to monitor the situation regularly.

The default retirement age on your CRISP account is 65.  The State Pension age is now 66 and will be 67 by 2028.  Does your selected retirement age on your CRISP account reflect when you’re planning to retire?

 

If you’re invested in the default fund 
Your investments will automatically start de-risking eight years before your selected retirement date.  Choosing a retirement date that is too early could mean your pension starts de-risking too soon and you could miss out on higher investment returns.  Choosing a selected retirement date that is too late might leave your savings overly exposed to a sudden market fall just before you retire.

If you’re invested in self-select funds  
Remember, self-select funds do not automatically de-risk as they are not lifestyle funds, so you may not be invested appropriately as you get closer to retirement.  Your savings could fall in value at the worst time.  How would you feel if your savings fell in value by 10% or 20% immediately before your retirement date?  How would this affect your retirement plans?  It’s important to regularly keep an eye on your investments.

 

You can change your selected retirement date or change where your funds are invested by logging onto your CRISP account online or via the MyAviva app.

Scams can be hard to spot and are often disguised with credible websites, recommendations and professional looking documents.

 

Follow these simple steps to help protect from scammers:

 

1.       Reject ‘too good to be true’ offers that come out of the blue.  Cold calling is illegal and an offer of a free pension review is almost certainly a scam.

 

2.       Check that who you are dealing with is on the FCA register at register.fca.org.uk and contact the firm directly.  Call 0800 111 6768 to check they are authorised to give pension advice and check www.fca.org.uk/scamsmart for known scams.  If you don’t use an FCA-authorised firm, you’re unlikely to be able to access compensation schemes if anything goes wrong.

 

3.       Don’t be rushed or pressured to act quickly; time-limited offers are likely to be a scam.

 

4.       Get free independent, impartial information and guidance from www.pensionsadvisoryservice.org.uk or contact an independent financial adviser; you can find one at www.moneyhelper.org.uk.

 

Use the online reporting form on the ScamSmart site or on 0800 111 6768. 

You can also report it to Action Fraudon 0300 123 2040 or at www.actionfraud.police.uk.

 

Be ScamSmart with your pension.  To find out more, visit www.fca.org.uk/scamsmart.