A guide to the proposed changes
Chivas Brothers Limited (“the Company”) is consulting with Active members of the Chivas Brothers Pension Scheme (“the Scheme”) about a proposal to close the Scheme to future build-up of benefits (sometimes called “future accrual”) on 7 April 2027.
This website explains the proposal, why you’re being consulted on these changes, and how you can take part.
If the proposal goes ahead
- You would become a Deferred member and stop paying contributions to the Scheme with effect from 7 April 2027.
- The pension benefits you had already built up to that date would remain in the Scheme. They would be based on your Final Pensionable Salary at 7 April 2027 (i.e. the link to your salary would be broken at that point) and would continue to revalue each year in line with the Scheme Rules until they become payable at retirement.
- You would become a member of the Defined Contribution Plan operated by Standard Life (“DC Plan”) on 8 April 2027. You would then start paying monthly contributions of 5% of your Pensionable Salary into a Pension pot in your name. This is the minimum contribution rate, and you can choose to pay more.
- Your contributions would continue to be paid through SMART Pensions, unless you opt out (see Consultation overview for more information on the proposed contribution structure in the DC Plan and see the online FAQs for details on SMART Pensions arrangements and how you can opt out of membership of the DC Plan).
For a summary of the benefits you’re currently entitled to, take a look at your section specific member guide.
Explore the site
Get in touch
If you have any questions about the proposed changes, please submit your query here.
Log in to OneView
You can access details about your pension benefits with the Scheme by logging into your Aptia OneView account.
Contact Aptia
If you have any specific questions about your individual pension benefits in the Scheme, get in touch with Aptia via pensionuk.aptia-group.com
Important note
This site content is not intended to be a legal promise to members, as it is only a summary of the proposed changes to benefits in the Scheme.
If there is any conflict between these details and the Scheme Rules, the Scheme Rules (as amended from time to time) will be overriding. If you want to see a copy of the Scheme Rules or have any questions concerning the contents of this document, please contact the Scheme Secretary, James Melsa via james.melsa@mercer.com
Access to more pension resources
Money & Pensions Service
The Money & Pensions Service is available at any time to give you free information and guidance on pensions, visit maps.org.uk
MoneyHelper
A free, Government-backed service offering impartial help on all aspects of money, including benefits, savings, budgeting and pension choices. It includes Pension Wise, which offers free, impartial guidance on retirement options in DC arrangements for people aged 50 and over. Visit moneyhelper.org.uk to find out more.
Gov.uk
The Government’s official website, where you can find out about everything relating to tax, pensions and the State Pension. Visit gov.uk
Department for Work and Pensions (DWP)
DWP’s website outlines government initiatives and information about retirement and pension benefits, including full details of the State Pension scheme. Visit gov.uk/government/organisations/department-for-work-pensions
Citizens Advice
Provides free, independent advice to everyone on their rights and responsibilities, and also offers free, impartial pensions guidance. Visit citizensadvice.org.uk
The Pensions Regulator
The Pensions Regulator is the body that regulates work-based pension schemes. The Pensions Regulator has no formal role in the consultation process but it can take action if employers don’t comply with the law when proposing changes like this.
While every effort has been taken to ensure the consultation is run in compliance with the law, you can contact the Pensions Regulator if you have any concerns about it.
The Pensions Regulator’s contact details can be found on their website here:
thepensionsregulator.gov.uk/en/contact-us
Get in touch
If you have any questions about the proposed changes, please submit your query here.
Log in to OneView
You can access details about your pension benefits with the Scheme by logging into your Aptia OneView account.
Contact Aptia
If you have any specific questions about your individual pension benefits in the Scheme, get in touch with Aptia via pensionuk.aptia-group.com
Important note
This site content is not intended to be a legal promise to members, as it is only a summary of the proposed changes to benefits in the Scheme.
If there is any conflict between these details and the Scheme Rules, the Scheme Rules (as amended from time to time) will be overriding. If you want to see a copy of the Scheme Rules or have any questions concerning the contents of this document, please contact the Scheme Secretary, James Melsa via james.melsa@mercer.com
Access to more pension resources
Money & Pensions Service
The Money & Pensions Service is available at any time to give you free information and guidance on pensions, visit maps.org.uk
MoneyHelper
A free, Government-backed service offering impartial help on all aspects of money, including benefits, savings, budgeting and pension choices. It includes Pension Wise, which offers free, impartial guidance on retirement options in DC arrangements for people aged 50 and over. Visit moneyhelper.org.uk to find out more.
Gov.uk
The Government’s official website, where you can find out about everything relating to tax, pensions and the State Pension. Visit gov.uk
Department for Work and Pensions (DWP)
DWP’s website outlines government initiatives and information about retirement and pension benefits, including full details of the State Pension scheme. Visit gov.uk/government/organisations/department-for-work-pensions
Citizens Advice
Provides free, independent advice to everyone on their rights and responsibilities, and also offers free, impartial pensions guidance. Visit citizensadvice.org.uk
The Pensions Regulator
The Pensions Regulator is the body that regulates work-based pension schemes. The Pensions Regulator has no formal role in the consultation process but it can take action if employers don’t comply with the law when proposing changes like this.
While every effort has been taken to ensure the consultation is run in compliance with the law, you can contact the Pensions Regulator if you have any concerns about it.
The Pensions Regulator’s contact details can be found on their website here:
thepensionsregulator.gov.uk/en/contact-us