The Cereal Partners
UK Pension Fund
How the Fund is run
The Cereal Partners UK Pension Fund (the Fund) is set up under a Trust and is managed by a Trustee Company – Cereal Partners UK Pension Trust Ltd. The Trustee Company has an overall duty to run the Fund in line with its trust deed and rules and current trust and pensions law. It acts through its Board of Directors, who are generally called ‘Trustees’ (please note that this does not mean each Director has the same legal duties individually as the Trustee Company – it is simply a useful shorthand term).
There are currently eight Directors on the Board of the Trustee Company – four appointed by the Company and four elected by members (known as member-nominated Trustee Directors).
Pensions law states that the Trustees must produce a number of documents each year.
The Fund’s Statement of Investment Principles (SIP)
This document sets out the principles governing the investment decisions for the Fund. The law states that we need to make this document publicly available on the website.
The SIP Implementation Statement
Each year, as part of the Fund’s report and accounts, the Trustees need to show how the investment policies set out in the SIP have been implemented during the previous year to 31 December. This is known as the `Implementation Statement’.
This Statement must:
- Describe any review of the SIP during the period covered by the Statement including an explanation of any changes to the SIP,
- Set out how, and the extent to which, in the opinion of the Trustees, the SIP has been followed during the year, and
- Describe the voting behaviour by, or on behalf of, the Trustees during the year as well as stating any use of the services of a proxy voter during that year.
You can also ask for copies of:
- The Fund’s latest report and accounts,
- The latest funding report, and
- The Fund’s Trust Deed and Rules.
To request copies, please contact Nestlé Pensions using the details above.