New Scheme Administrator
With effect from 1 February 2018, the Scheme Administrator has changed from Aon Hewitt to PS Administration Limited (PSAL).
PS Administration LimitedQueen's Quay33-35 Queen SquareBristol BS1 4LULHPS@psadmin.com 0117 4402493
What does the pension scheme administrator do?
The role of the administrator includes paying benefits when due, dealing with requests to transfer benefits out of the Scheme, receiving your contributions and then investing them, and providing members with information about their benefits. The Trustee is responsible for the overall running of the Scheme in accordance with the Scheme’s Rules and relevant legislation.
Do members need to do anything?
Members do not need to take any action but please keep the various communications you will be receiving from the Trustee and PSAL safe as these set out PSAL’s contact details and you can refer back to them when necessary. Please also ensure you keep PSAL up to date if you change your address.
How will the change of administrator affect members?
This change will not affect your benefits under the Scheme. It means PSAL will hold all of the member records and you should contact PSAL from 1 February 2018 onwards if you have any queries regarding your Leonardo Electronics pension.
Whilst we have been working closely with Aon Hewitt and PSAL to make this transition as smooth as possible, there may be some implications for our usual service provision and we appreciate your patience during this period.
Will PSAL have any online tools for members?
Yes. You will be able to access pension information online as well as have the functionality to view & update your personal information and request quotations via PSAL’s member access website. There will be functionality for members with AVC benefits with Old Mutual Wealth to view transaction history and current fund values, and request investment switches. Initial online access for active and pensioner members is expected to be available in February 2018. We are also working to provide online access for deferred members later in 2018.
In addition, online modelling tools and member calculations for active members of the Scheme are being developed and are due later in 2018. We will write to you with details when they are ready for launch.