Investment Principles

The Fund has a defined benefit (DB) section and a defined contribution (DC) section.

The Statement of Investment Principles (DB Section) sets out how the DB assets are to be invested and the principles which govern the trustee's strategic investment decisions. The Annual Implementation Statement (DB Section) sets out how the policies described in the Statement of Investment Principles (DB Section) have been implemented over the reporting period (1 October 2020 to 31 December 2020).

The Statement of Investment Principles (DC Section) sets out the trustee's principles governing decisions about :
a) the range and nature of the investment options made available to members of the DC section and to those members for whom it invests money purchase additional voluntary contributions (MPAVCs)
b) the default investment option within the DC section

The Annual Implementation Statement (DC Section) sets out how the policies described in the Statement of Investment Principles (DC Section) have been implemented over the reporting period (1 October 2020 to 31 December 2020).

The trustee's Responsible Investment (RI) policy sets out the trustee's RI beliefs and how RI is implemented across the Fund's asset classes, and through engagement, manager selection and monitoring, and reporting.