Prudential Corporate Pensions Trustee Limited (PCPTL)

Prudential Corporate Pensions Trustee Limited (PCPTL) is a corporate trustee company and was acting as trustee for the following three schemes, which wound-up with effect from 17 March 2021.
 
  • The Prudential Money Purchase Masterplan,
  • The Prudential Money Contracted-Out Purchase Masterplan, and
  • The Prudential Group Pension Savings Plan

Former members of the schemes now have a plan in their own name

Benefits for former members are now held under a plan in their own name – a change sometimes referred to as ‘endorsement’. This change does not affect any income or benefits that former members or any beneficiaries are entitled to.

Copies of the policy documents for former members are available for download here:

Policy document for former Members of The Prudential Money Purchase Masterplan

Policy document for former Members of The Prudential Contracted-out Money  Purchase Masterplan

Policy document for former Members of The Prudential Group Pension Savings Plan

If a paper copy is required please let Prudential know.

Information relating to the wound-up schemes

Although the three schemes noted above wound-up with effect from 17 March 2021, PCPTL wishes to still make information about them available.

The following relates to the final scheme year, which ran from 6 April 2020 to 17 March 2021 (to the date of wind-up).

On an annual basis the PCPTL Chair was required to publish a Governance Statement. This described the controls that had been put in place, together with any important decisions that may have been taken, to ensure that its primary aim, to monitor the schemes and act in members’ best interests, was met.

Read the final Chair’s Governance Statement

A new requirement came into force shortly before the winding-up of the schemes, whereby the PCPTL Chair also had to publish a document called an Implementation Statement (IS). This set out how, and the extent to which, the Statement of Investment Principles (SIP) was followed during the scheme year from 6 April 2020 to the point the schemes were wound-up.

Read the Implementation Statement

The Directors of PCPTL

All of the trustee directors were chosen for their skill, knowledge and wide experience in pension provision in the UK and each is an acknowledged expert in specific aspects of pension provision.

The current Chair brings considerable expertise in investment strategy and asset management. He is an expert on how well, and how reliably, a member’s pension pot should grow.

Current Directors of PCPTL:

Director

Director’s Role

John Nestor

Independent Chair

Bruce Rigby

Independent Director

Jennifer Owens

Director

More information

Automatic enrolment & qualifying workplace pensions

The law on workplace pensions has changed. Every employer with at least one member of staff now has new duties.

Would you like to use your Prudential plan for qualifying purposes?

If you would like your plan to qualify under the new rules, we may be able to help you, but you will need to let us know six months before your staging date.

Checklist

There's a lot to do, our checklist could help you.

 

Jargon buster

Bite-sized explanations of terms used.

 

Understand your obligations

The Government has created an employer responsibility to automatically enrol eligible jobholders into a good pension plan, and to make contributions to it.

The basics

Answers to common questions about automatic enrolment.

Things to think about

The rules are now in place and there are a number of issues you will need to consider to practically implement the regulations.

 

Better workplace pensions

On the 6th April 2015, the Government introduced additional requirements for workplace pensions.

Contact us

If you are an Employer and want to discuss how we can work together or to find out more details about our corporate solutions, please contact us.