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Latest news
26/04/2024 - CHANGE OF BANKING ARRANGEMENTS - Please note that with effect from the April 2024 pension payment, due to a change of scheme banking arrangements, the name that will appear on your bank statement will change from Pearl Group Services to P.A.T (Pensions) Ltd. This will have no effect on your regular monthly pension payments.

20/03/2024 - PENSION INCREASES 2024 - The increase to Final Salary, Hybrid and Pre 2019 Money Purchase pensions in payment from April 2024 is 4.5%. The statutory increase to the Post 88 GMP this year will be 3%. The Increases to post 2019 Money Purchase pensions in payment from April 2024 are 2.5% for post 2005 pension and 3.4% for pre 2005 and AVC pensions. The increase confirmation letters are planned to be posted by 15th April but we will update the web site if this is likely to change. If you have any queries on pension increases there is a Questions and Answers document available on the website here.
19/12/2023 - Pensioners pay for December will be paid on the 22nd December.


Latest News

26/04/2024 - CHANGE OF BANKING ARRANGEMENTS - Please note that with effect from the April 2024 pension payment, due to a change of scheme banking arrangements, the name that will appear on your bank statement will change from Pearl Group Services to P.A.T (Pensions) Ltd. This will have no effect on your regular monthly pension payments.
20/03/2024 - PENSION INCREASES 2024 - The increase to Final Salary, Hybrid and Pre 2019 Money Purchase pensions in payment from April 2024 is 4.5%. The statutory increase to the Post 88 GMP this year will be 3%. The Increases to post 2019 Money Purchase pensions in payment from April 2024 are 2.5% for post 2005 pension and 3.4% for pre 2005 and AVC pensions. The increase confirmation letters are planned to be posted by 15th April but we will update the web site if this is likely to change. If you have any queries on pension increases there is a Questions and Answers document available on the website here.
19/12/2023 - Pensioners pay for December will be paid on the 22nd December.
20/04/2023 - One-off discretionary uplift - The Trustees are pleased to say that final salary deferred members will receive a one-off discretionary increase of 1.3%. Members eligible for the uplift will receive a letter from the administrators in due course. Pensioners will also receive the same increase on eligible pension and will have been informed in their pension increase letter.
22/03/2023 - PENSION INCREASES 2023 - The increase to Final Salary, Hybrid and Pre 2019 Money Purchase pensions in payment from April 2023 is 5%. The statutory increase to the Post 88 GMP this year will be 3%. The Increases to post 2019 Money Purchase pensions in payment from April 2023 are 2.5% for post 2005 pension and 5% for pre 2005 and AVCs pensions. The increase confirmation letters are planned to be posted by 15th April but we will update the web site if this is likely to change. If you have any queries on pension increases there is a Questions and Answers document available on the website here.
18/08/2022 - Discretionary Pension Increase - We are pleased to let you know that the Trustees and the Company have agreed that a special one-off discretionary pension increase of 1.6% should be paid to eligible members who were pensioners with final salary entitlement on 1 April 2022. The increase will be paid on 25 August and will be backdated to 1 April 2022. All eligible members will receive a letter from the administrators, First Actuarial, in the next few days providing more detail of your actual increase.
23/03/2022 - PENSION INCREASES 2022 - The increase to Final Salary, Hybrid and Pre 2019 Money Purchase pensions in payment from April 2022 is 5%. The statutory increase to the Post 88 GMP this year will be 3%. The Increases to post 2019 Money Purchase pensions in payment from April 2022 are 2.5% for post 2005 pension and 5% for pre 2005 and AVCs pensions. The increase confirmation letters are planned to be posted by 15th April but we will update the web site if this is likely to change. If you have any queries on pension increases there is a Questions and Answers document available on the website here.
01/06/2021 - The results of the recent election for Member Nominated Trustee Director vacancies can be found here
21/05/2021 - Don't Let a Scammer Enjoy Your Retirement - Find out how pension scams work, how to avoid them and what to do if you suspect a scam here
24/03/2021 - PENSION INCREASES 2021 - The increase to pensions in payment from April 2021, in line with the Rules of the Scheme is 1.4%. The statutory increase to the Post 88 GMP this year will be 0.5%. The increase confirmation letters are planned to be posted by 15th April but we will update the web site if this is likely to change. If you have any queries on pension increases there is a Questions and Answers document available on the website here.
21/12/2020 - Pensioners pay for December will be paid on the 23rd December
22/07/2020 - The trustees of the Pearl Group Staff Pension Scheme have appointed The Tracing Group to help locate pension scheme members they have lost touch with. If you receive a letter from The Tracing Group you can be confident this is genuine and not a scam. If you would like further reassurance, you can check with First Actuarial, the scheme’s administrators. Further information can be found by clicking here.
25/03/2020 - PENSION INCREASES 2020 - The increase to pensions in payment from April 2020, in line with the Rules of the Scheme is 2.5%. The statutory increase to the Post 88 GMP this year will be 1.7%. The increase confirmation letters are planned to be posted by 17th April but we will update the web site if this is likely to change due to the current situation with Corona Virus. If you have any queries on pension increases there is a Questions and Answers document available on the website here.
17/03/2020 - Coronavirus Update - As you are aware the changes being implemented to deal with the Coronavirus outbreak are having an effect on all industries. During this difficult period you can of course still request information on your pension in the Pearl Group Staff Pension Scheme, but we would appreciate it if members could either refrain from making non-urgent requests or specify the urgency when you make the request. We normally aim to process all requests within 8 working days, however, please note that during this difficult period we are prioritising work to ensure that new pensions are set up, urgent payments are made and existing pensioners continue to be paid on time. If your request is not urgent or time critical it may take longer than normal for us to provide the information requested. We would appreciate it if you do not chase for non-urgent information during this time. Thank you in advance for your co-operation and understanding.
12/03/2020 - The Trustee's Report to members for the year ended 30 June 2019 has now been sent to all members. A copy of the report can be found under the Short Reports section of the Members Documents page here
14/02/2020 - Latest update on the AON Managed Active UK Equity Fund here.
16/12/2019 - Update on the AON Managed Active UK Equity Fund here.
10/12/2019 - Pensioners pay for December will be paid on the 23rd December
03/07/2019 - Important information about the AON Managed Active UK Equity Fund here.
20/03/2019 - PENSION INCREASES 2019 - The increase to pensions in payment from April 2019, in line with the Rules of the Scheme is 2.5%. The statutory increase to the Post 88 GMP this year will be 2.4%. The increase confirmation letters will be posted from 5th April. If you have any queries on pension increases there is a Questions and Answers document available on the website here.
The information placed on this website is for ease of reference only. Whilst every effort is made to keep this information up to date, sometimes there is necessarily a delay in posting new or revised documentation and, as such, members should only rely on the printed documentation provided in relation to the Scheme, which is available from the Scheme Administrators. Members access this website on the basis that the Company and the Trustee of the Scheme will not be liable for any action taken in reliance on the information posted on it. If you have queries please contact us.

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