What does it cost

As this section of the Scheme is closed and no further service can be accrued, you do not pay any contributions.

FDR Limited, however, continues to support the Scheme. Every three years the Scheme’s actuary performs a valuation of the Scheme and annual updates take place for the years in between. If there is a shortfall in the funding of the Scheme, the Company pays contributions to make good any shortfall. Therefore, even though the funding level may be below 100%, benefits can continue to be paid in full.

The Trustees are required by law to give members of the Defined Benefit Section of the Scheme a summary funding statement following each actuarial valuation or actuarial report on funding. This is usually provided within the Scheme newsletter.