The Berkeley Group plc Staff Benefits Plan (the 'Plan') is a defined benefit pension scheme which is administered by a Trustee, Berkeley Group Pension Trustees Limited, and is governed in accordance with a trust deed.
The Trustee Directors monitor the ongoing management of the Plan and the investment of its assets. The administration of the Plan is carried out by JLT Benefit Solutions Limited.
Although the Plan is a defined benefit plan, there are defined contribution ('DC') elements in the Plan which are Additional Voluntary Contributions ('AVC's') and DC benefits from former Protected Rights when the Plan was contracted-out of the State pension. Accordingly, the Trustee has chosen to prepare a trustee's Chairman's Statement regarding DC governance, which is required to be published online, and is found below: