Welcome to the Northern Bank Pension Scheme website where Members will find useful information about the Scheme. We would encourage you to re-visit the website from time to time, as further information and updates will be added periodically.
Transfers Out — New Regulations
December 2021 — Regulations have recently been introduced which require the Trustee, in certain circumstances, to carry out additional checks before transferring benefits from the Scheme. This is to help safeguard members from the risk of being defrauded. Please be aware that some delays may result from the need for these checks to be carried out. Members should, however, continue to remain vigilant to the risk of pension scams.
Purchase of Insurance Policy
October 2021 – The Trustee is pleased to inform members that it recently entered into a ‘buy-in’ insurance policy with Aviva Life & Pensions UK Limited. The policy is a further step in de-risking the Scheme’s investments and requires Aviva to make monthly payments to the Scheme which cover the Scheme’s obligations to pay certain pensions and death benefits. Further information will be provided in the 2021 Member Report.
October 2021 - Members (and contingent beneficiaries) are invited to note that the Trustee’s Privacy Notice has been updated following Aviva Life & Pensions UK Limited becoming a data controller in relation to your personal data. A link to Aviva’s Privacy Notice has also been added. View our updated Privacy Notice.
Annual Report and Financial Statements
June 2021 – Members are invited to note that the audited Scheme Annual Report and Financial Statements for the year ended 31 December 2020 are now available to view on the Scheme Information page.
Scheme Administrator (Equiniti) – Change of Telephone Number
March 2021 – Members are advised that the contact telephone number for the Scheme Administrator (Equiniti) has recently changed. The new telephone number is 0203 997 6720.
Members are reminded to be aware of pension scams and are advised to take extreme care if considering transferring benefits out of the Scheme (or indeed, if investing pension benefits such as pension commencement lump sums). Read our dedicated Pension Scam Awareness page for more information.