Covid-19 Virus – How is your IWMPS pension affected?
The COVID-19 (coronavirus) outbreak is understandably a source of personal and financial concern for you and your families. The IWMPS Trustees wish to reassure members that the payment of pensions and other benefits is their top priority and plans (which had already been drawn up to deal with similar situations) have been put in place to help ensure payments continue to be made on time.
At this troubling time, the Trustees must also take as much care as possible to ensure the safety of staff who work on the Scheme. Our administrators, advisors and investment managers all have arrangements in place to allow for as much working from home as possible. We are pleased that our administrators (Hymans Robertson) put those plans into place immediately with all staff working safely from home with no interruption to the calculation and payment of pensions and lump sum payments.
There are some slight changes to administration procedures during this time, most notably the requirements for members to provide proof of identity before benefits can be awarded, and these will be explained to you by Hymans Robertson if you need to contact them. Also, you will notice that Scheme correspondence will be printed on Hymans Robertson letterhead instead of IWMPS letterhead.
The need to prioritise essential work – putting pensions into payment, looking after the bereaved with death benefit payments and the ongoing pensions to pensioners – means that other duties might take longer than usual. Please be patient if you raise a general enquiry or ask for a non-urgent quotation, these might take a bit longer than usual. We will continue to review the arrangements and make changes as necessary – and of course we will keep you updated.
You can contact the administrators using the details below as usual.
Thank you for your understanding. We hope you and your families stay safe and well.
This website aims to provide generic information about the IWMPS and the benefits payable to members and their dependants. If you are a member and have questions relating specifically to your own benefits payable from the IWMPS, for example the current value of your benefits, you should contact the Scheme’s administration office.
A number of documents are available to download from the website or can be requested from our office. To download please visit our scheme documents section.
For more information on how to get in touch with the Scheme, please refer to our contact page where you will find all of the details.