The Wildlife Trusts Pension Scheme
The Wildlife Trusts Pension Scheme used to offer final salary (Defined Benefit) pension and Defined Contribution pension options for employees of both Wildlife Trusts and RSWT. The Defined Benefit section of the Scheme was closed to new members and future pension accrual as soon as the employer risks of final salary schemes became evident in 2005. The Defined Contribution section of the Scheme remained open until March 2019,  when onerous and costly master trust regulations were introduced. Action is currently being taken to wind up the DC section of the Wildlife Trusts Pension Scheme.
The Wildlife Trusts Pension Scheme is managed by an independent board of directors, collectively termed the Pension Trustee. They appoint administrators to run the Scheme and liaise with the Principal Employer, which is RSWT.Â
Despite the early closure of the Defined Benefit section of the Scheme, there remain significant liabilities associated with fulfilling its commitments. These liabilities are shared fairly between the individual participating Wildlife Trusts and RSWT, according to the people they have employed who became members of the Scheme.
Dealing with highly complex legal technicalities caused by flawed legislation, and with the separation and closure of the Defined Contribution section of the Scheme has dominated the Principal Employer’s priorities in the period 2016-2019.
Now that these issues are largely resolved, the Principal Employer will be opening discussions with the Pension Trustee over the nature of its investments in line with its own investment policy which will be reviewed in the coming year.