The law requires trustees of a pension scheme with more than 100 members to prepare a “Statement of Investment Principles (“SIP”) and ensure it is reviewed at least every three years and without delay after any significant change in investment policy. Written advice should be taken when preparing and reviewing the SIP.
The purpose of a SIP is to set out the Scheme’s investment strategy, including the investment objectives and investment policies adopted.
Where possible, a collaborative approach should be followed, with trustees, employers and their respective advisers communicating regularly about notable developments relevant to the scheme’s investments.
Please note that this document only applies to members of the closed defined-benefit pension scheme. It does not relate to the Inn’s current activities.