It’s been another busy year for the Plan, and we’re pleased to bring you the latest updates in this issue of Dow Spotlight.
Our focus remains on protecting members’ benefits and ensuring the long-term security of the Plan. We continue to make strong progress in reducing risk across the Plan. Following the buy-in with Rothesay Life Plc (Rothesay) for the DCL Section in 2021, and the more recent buy-in with Pension Insurance Corporation (PIC) for the Dow Services Section in December 2024, we’re now taking further steps to secure members’ benefits.
DCL members will be aware that we’re working with Rothesay to complete the buyout, with Rothesay taking over responsibility for paying members’ benefits. This is a significant milestone and a common step for UK defined benefit pension schemes whose benefits are fully insured.
The administration of the DCL Section will transition to Rothesay, from Aon, on 1 November 2025. For Dow Services Section members, we’re currently working closely with PIC to verify member data. Read more about what happens next in the Partnering with Rothesay and PIC article.
For DCL members this is the last edition of Spotlight you’ll receive – you’ll find information about pensions and your individual benefits on Rothesay’s website after the buyout completes. We hope you’ve found Spotlight a helpful read over the years.
In Protecting your loved ones we highlight the importance of keeping your Expression of Wish form up to date, so that the people most important to you are protected should the worst happen.
In Pension news, we also share updates on the wider UK pension position. This includes the Government’s latest Budget announcements, changes to State Pension age, and the new Pension Schemes Bill, which could bring significant changes to how pensions are managed and accessed in the future. We also provide an update on the Pensions Dashboards Programme, which will give people a view of all their pensions in one place.
Finally, we hear from Kevin Blackwell, one of our Member-Nominated Trustee Directors. Kevin shares his personal experience of switching to digital communications as a member of the Plan. If you haven’t yet registered for digital updates, now is the time to do so, to ensure you continue receiving important information about your pension.
If you have any questions please don’t hesitate to get in touch.
Andrew Jones
Chair of the Trustee