Our pension scheme
About Macmillan's pension scheme
Macmillan currently operates a defined contribution pension scheme run by Legal & General.
If you joined Macmillan on or before 30 April 2005, you'd have had the opportunity to join the Macmillan Cancer Support Pension Scheme, our final salary pension scheme. This scheme's now closed to new members but it still operates and pays members’ pensions. You can find out more about this closed scheme below.
Investment matters
To achieve the scheme’s long-term objectives, in July 2024 the pension trustees used most of the scheme assets to purchase an insurance policy from Aviva Life & Pensions UK Limited. Under the terms of the policy, Aviva is now responsible for funding the current and future pension payments due to all members and their beneficiaries. The pension trustees’ responsibilities are to ensure Aviva complies with the terms of this insurance policy and to continue running the scheme. To do this, they require a limited amount of funds.
The scheme’s Statement of Investment Principles (SIP) details the scheme’s investment strategy post the purchase of the Aviva insurance policy.
Download the latest Statement of Investment Principles
The scheme’s latest annual Implementation Statement is out of date following the purchase of the Aviva insurance policy mentioned above. It evidences how we followed and acted on our investment strategy as outlined in our previous Statement of Investment Principles ie pre the purchase of the Aviva insurance policy. We will update it in 2025 when we produce the 2024 Implementation Statement, but in the meantime, we are required by regulation to make the latest version available to you.
Who is responsible for the scheme?
The trustees of the scheme, with the help of professional advisers, are responsible for running the scheme for the benefit of members. They’re also responsible for ensuring there is sufficient money to pay all pensions – to fulfil this obligation, they’ve purchased the Aviva insurance policy mentioned above.
Data matters
Download the privacy notice
Aviva also has a privacy notice. This sets out how Aviva will comply with data protection legislation and use member’s data.
Getting in touch
The trustees have delegated the daily administration of the scheme to First Actuarial, a professional scheme administrator. If you’ve any questions or need information about the scheme or your benefits, please contact them using the details below.
Post
Macmillan Scheme Pensions Administration Team
First Actuarial LLP, Network House
Basing View, Basingstoke
Hampshire
RG21 4HG
FAO: James Hancock and Ben Law
basingstoke.admin@firstactuarial.co.uk
Telephone
01256 297700