Latest updates

This section is home to the latest updates and information about the LRSFA and pensions in general.

Chairman’s bulletin

I thought I’d give you a periodic update on what your Trustee Board have been doing, and this one follows a Trustee Board meeting on 18th June 2024. I appreciate that in total there are over 7000 members of the LRSFA and I hope it’s of interest to some of you.

At our meeting:

1. We were saddened to record the resignation of Dermot Cronin as a Trustee Director. He has served you for around 17 years with wisdom, objectivity and integrity and on your behalf I thank him for this service. We hope to have his replacement in place by the end of the year. The process for the selection of member nominated directors has been updated and it now enables both active members and pensioners to put themselves forward. Further details on the process will follow in due course.
2. Mary Waldner (LR Chief Financial Officer) gave the Board an update on both the current and planned performance of LR. This is important to the Trustee as we need to continuously monitor the performance of LR as they are ultimately responsible in ensuring the LRSFA is adequately supported both administratively and financially.
3. We reviewed plans to improve the offerings available in the Defined Contribution benefits, and we shall be in touch soon on this.
4. We considered ways in which we could enhance the security of the Defined Benefit obligations and reviewed the funding position.
5. We received reports from both Standard Life and XPS on the administration of the LRSFA.
6. And finally we reported on the meeting I had attended (together with LR Board Members) with three ex-trustees, who are now pensioners. Among other things, they asked for more regular communication from the Trustee. This bulletin is in response to that request.

With best wishes

Nicholas Godden