To ensure that our pension scheme remains compliant with the Government's automatic enrolment regulations, the Company are proposing changes to the DC contribution structure. At the same time, they are also proposing changes to the death and ill health benefits provided through the DC Section.

The changes require the Company to consult with employees and from Monday 15 January 2018) they entered into a formal 60 day collective consultation process with our UK employees as represented by the UK Information and Consultation Forum ("UKICF") and the Union of Shop, Distributive and Allied Workers (USDAW).

A letter has been issued to all those affected. Please take time to read this letter, which includes details of how to feedback on the proposals.

If you have any queries relating to the consultation you can email RS Pensions UK. We’ve also set up a dedicated intranet page which can be accessed via the pensions page of the Company Intranet.

We must remind you that, if you want to respond to any of the changes, you must respond by 15 March 2018. If the proposed contribution structure is implemented we will inform you as soon as possible after the end of the consultation in March 2018.

Please take this opportunity to review the contributions that you pay to the Scheme. Being in the pension scheme will not necessarily mean that you’ll have enough money when you want to retire and you may need to work longer. Increasing your contributions could mean you have more income in retirement and the more you pay, the more the Company pays.

The earlier you start planning and taking action to save for your retirement the better chance you have of achieving the outcome you want.