Your health
Please continue to follow the advice of the government with regard to your own health. The information can be found at www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public
RS Group Pension Scheme
As the impact of the coronavirus (COVID-19) spreads across the globe, we continue to closely monitor the situation and carefully follow the advice from the government to minimise any impact on the operation of our pension scheme.
To make sure we’re prepared should the virus spread more rapidly, we are taking the appropriate precautions. This includes reviewing the business continuity measures of our administrators and advisers as well as Electrocomponents Plc/RS Components.
The wider impact of coronavirus on financial markets will impact the Scheme’s investments in the short term, however the way in which the defined benefit section invests its funds, means we are well placed to minimise the impact on the Scheme.
It is likely however that a member of the defined contribution section with their own individual fund, will have seen the impact of financial markets come through in the value of their pension, which might have dropped in the last week or so. It is likely that the markets will remain volatile for the short to medium term and even though markets can rally, it is likely you will see the value of your pension go up and down quite a bit over the coming weeks.
Pensions are a long-term investment however, and it is very normal for the value of investments to go up and down and although not guaranteed, history shows us that values generally go up over the longer term. This means that making decisions based on what’s happening in the short term is not always appropriate.
If you are nearer retirement however, then you may wish to consider the level of risk to your investments, and if it is still appropriate for your retirement plans. Details of the investment options under the Scheme can be found by going to our dedicated pension’s website www.rspensions.co.uk
You can also access our pension portal via this site, for information about you pension including your current fund value and details of the funds in which you are invested.
Additionally, if you’re thinking about switching investments, or if you’re taking money out of your pension, we strongly recommend that you speak to a financial adviser to consider your options thoroughly before taking any action.
We will continue to keep a close eye on developments, and we will issue further communications when appropriate, including updating www.rspensions.co.uk
The RS Pensions Team helpline is well-equipped to answer any queries about your pension in the coming weeks and months. However, we ask members to consider whether your query is urgent and if it could be answered by email, through the website or within your pension account on the pensions portal.
Address: RS Pension Scheme, Capita PO Box 555, Stead House, Darlington, DL1 9YT
Helpline: 0345 122 0785
Email: RSPensions@capita.com