News

Coronavirus update for the William Hill Pension Plan

Payment of pensions

In response to the potential spread of coronavirus (COVID-19), we continue to closely monitor the situation and take action to minimise any impact on the day to day operation of the William Hill Pension Plan (the Plan).

We have robust measures in place so that we are prepared to respond to the evolving situation. This includes establishing contingency plans to safeguard the staff who look after the Plan and our priority remains making sure that pensions are paid on time.

The Capita Pension Administration Team helpline is equipped to answer any queries about your pension in the coming weeks and months. However, we ask members to consider whether your query is urgent and if it could be answered by another method ie. email or website.

We will continue to keep a close eye on developments and if the situation or advice changes, then we will issue further communications.

 

Impact on the markets

You may have also seen recently in the news the falls in the global investment markets due in part to the potential spread of coronavirus (COVID-19). You may have also noticed changes in the value of your pension in the Plan due to movement in the underlying investments.

It is likely that the markets will remain volatile for the short to medium term. This volatility may well continue to be reflected in the value of your pension fund. 

You should remember that your pension is an investment and will be subject to changes in the markets. How much this affects you will depend on your age and what other pension savings you may have.

If you are not yet approaching retirement, then your pension is a long-term investment and the markets may have recovered before you need to use it. If you are nearer retirement, you may wish to consider the level of risk your investments, and if it is still appropriate for your retirement plans.

 

Your health

If you have any concerns about your health or require more information please visit www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public

 

Interactive member guide booklets

We now have two new interactive member guide booklets that can be downloaded from the library section – Pension Savings Plan and Employee Pension Plan. These guides are a useful ‘one-stop-shop’, to everything you need to know about your pension with William Hill. You will also find a copy of our newsletter published in December last year. We hope you find them useful.

Look out for more news from the Trustee.

Mandy Rigg
Group Pensions Manager

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