SCHEME DOCUMENTATION
Scheme Rules
The Scheme Rules (and any formal amendments to them) are held by the Secretary to the Scheme, who can send out copies on request. The current Rules are also held electronically and can be viewed online by clicking the links below.
Consolidated Schemes Rules as at 1 November 2011
Amending Deed in relation to Same Sex Marriages
Statement of Investment Principles
The Pensions Act 1995 requires the Trustee to agree a Statement of Investment Principles in consultation with the Scheme’s investment advisers and the Principal Employers. The document sets out formal investment objectives and constraints for the Scheme. The Investment Policy Implementation Document (IPID) sets out details of the Scheme’s investment arrangements, based on the principles set out in its Statement of Investment Principles. The IPID should be read in conjunction with the SIP. Below is a link to the most recent Statement of Investment Principles and Investment Policy Implementation Document.
Statement of Investment Principles 2024
Statement of Investment Principles 2023
Statement of Investment Principles 2022
Statement of Investment Principles 2021
Statement of Investment Principles 2020
Investment Policy Implementation Document 2023
Investment Policy Implementation Document 2022
Investment Policy Implementation Document 2021
Investment Policy Implementation Document 2020
Risk Heat Map
The Trustee continually considers the risks to the Scheme when carrying out its business. It has a risk register which is reviewed at every Audit Committee meeting and agreed with the Trustee annually. The risk heat map provides an overview of the risks that have been identified and included in the risk register.
Valuations
Every three years the law requires the Trustee to obtain an actuarial valuation of HGPS from the Scheme Actuary. The valuation compares the Scheme’s assets with its liabilities. The Trustee also agrees with the Employer the level of future contributions required to meet the Scheme’s ongoing liabilities.
The last full valuation was carried out as at 30 June 2020. The valuation report, together with the associated documents, can be accessed by clicking on the links below.
Valuation Report as at 30 June 2020
Valuation Report as at 31 December 2017
The Statement of Funding Principles sets out how the Scheme will be funded on an ongoing basis in order to meet its funding objective.
Statement of Funding Principles 2023
Statement of Funding Principles 2020
Statement of Funding Principles 2017
The Schedule of Contributions describes the contributions payable to the Scheme by the Company.
Schedule of Contributions 2023
Schedule of Contributions 2020
Schedule of Contributions 2017
The Annual Funding Update as at 31 December 2018 sets out an approximate update of the development in the financial position of the Scheme relative to its statutory funding objective since the latest actuarial valuation.
Annual Funding Update as at 31.12.2018
Actuarial Report as at 30.06.2019
Summary Funding Statements
The Scheme Actuary carries out a valuation every three years. Between triennial valuations, the Scheme Actuary updates the valuation calculations annually on an approximate basis. These annual calculations are summarised in a Summary Funding Statement which is sent to members. For the latest Summary Funding Statement please see the link below.
Summary Funding Statement 2022
Summary Funding Statement 2021
Summary Funding Statement 2020
Summary Funding Statement 2019
Summary Funding Statement 2018
Summary Funding Statement 2017
Summary Funding Statement 2016
Annual Report and Accounts
Below are the Report and Accounts currently available online as PDF files.
Newsletters and AGMs
Annual General Meetings (AGMs) were replaced by newsletters as a better way of communicating with the entire membership. To see past newsletters, which have been sent to members since 2016, or to see documentation from previous AGMs, please click on the links below.
Q&As to Annual Newsletter 2016
Auditors' Statement
Neither an audit nor a review provides assurance on the maintenance and integrity of the website, including controls used to achieve this, and in particular whether any changes may have occurred to the financial information since first published. These matters are the responsibility of the Trustees but no control procedures can provide absolute assurance in this area.
Legislation in the United Kingdom governing the preparation and dissemination of financial information differs from legislation in other jurisdictions.
Other Information
The Pensions Regulator – Advice on Avoiding Pension Scams
Liability Driven Investment (LDI)
Your Latest Address
If you are a member of the Scheme, you are strongly encouraged to ensure that your latest address is on file with the Scheme Administrators, whose contact details can be found on the 'Contact Us' page of this site.