The CBI Retirement Benefits Plan (‘the Plan’) is a defined benefit scheme that was available to CBI staff prior to being closed to all new accruals on 31st March 2012. The assets of the plan are managed by third-party investment managers and are held separately in trust.
The Trustee of the Plan is responsible for the investment of the Plan’s assets. As part of statutory legislation, the Trustee is required to produce a Statement of Investment Principles (‘SIP’) detailing their objectives and the parameters they work within. This statement has always been available to the members of the Plan on request and has now been made publicly available to help you understand the Trustee’s strategy for the pension scheme’s investments.
New legislation for UK pension schemes requires the Trustee to produce an Implementation Statement detailing how the Trustee has implemented the policies in the SIP, including around investment strategy, risk management, and environment, social, and governance (‘ESG’) matters. The Implementation Statement covers the 12-month period to 31 December 2020 and will be updated annually.