PENSION CHANGES
Welcome to the information page regarding pension changes that have affected, or will in the future affect the Kingfisher Pension Scheme.
Should you have any further questions, or if you need more information please contact the Group Pensions Department.
PENSION REFORM PROPOSALS
Kingfisher plc has announced some important changes it proposes to make to the Pension Scheme from 2 July 2012. These changes would affect both the final salary section and the money purchase section.
Kingfisher is consulting with all current members of the Pension Scheme about its proposals and the consultation period runs from Thursday 2 February to Monday 2 April.
You should have received a personal letter from either the company or the Trustee telling you more about the proposals. If you haven't received your letter by 10 February please contact the Kingfisher Group Pensions Department.
The proposed changes only affect our employed members. So, if you are a deferred member or a pensioner there will be no change to your benefits. Your benefits remain protected and you don't need to do anything. If you'd like to see copies of the Trustee letters click below.
We'll keep you updated on progress throughout the consultation period.
February 2012
CHANGES TO TAX RELIEF FOR PENSION SAVINGS FROM 2011
As you may be aware the Government has recently announced changes to tax relief for pensions savings which are due to be implemented from April 2011.
We have produced Q&A documents with details of the changes as we understand them, based on the information available. There is a separate Q&A document for:
February 2011
CHANGING MINIMUM PENSION AGE
FROM 6 APRIL 2010
On 6 April 2010, the minimum age at which you will be able to draw your pension is increasing from 50 to 55. This is a legislative change that may affect anyone who has a pension benefit (other than the State Pension). The change will have the biggest impact on members who will be aged between 50 and 55 on 6 April 2010.
The Group Pensions Department will be writing to members of the Kingfisher Pension Scheme aged between 49 and 55 during 2009. Active members of the Final Salary Section (KPS-FS) can expect to receive a letter explaining their options in August 2009. Deferred members of the KPS-FS and members of the Money Purchase section (KPS-MP) can expect to receive a letter in September 2009.
We have produced a series of Question and Answer Guides to help explain the change in more detail. These guides are available from the download page, and are for:
July 2009
A-DAY
FROM 6 APRIL 2006
In recent years, pensions have been very much in the public eye, with many people calling for them to be simpler, more flexible and more secure. The Government has taken action and introduced new legislation, which aims to address these issues.
The Kingfisher Pension Scheme is one of the most important benefits offered to our employees. We have welcomed the new legislation and over the past few months the Pensions Team has been working with the Trustees and the Company to consider how this legislation will affect the Scheme and its members. Following this, we are making some changes to the Scheme, which we believe are in the best interests of members and comply fully with the new legislation.
We have produced a PDF guide for active members, deferred and pensioner
members to explain some of the changes. Click on the highlighted text to download our PDF and see how the changes will affect you.
April 2006
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