Coronavirus Update for Heinz UK Pension Plan (DC Plan)
In response to the potential spread of coronavirus (COVID-19), we continue to closely monitor the situation and take action to minimise any impact on the day to day operation of the Heinz UK Pension Plan (the Plan). We have robust measures in place so that we are prepared to respond to the evolving situation. This includes establishing contingency plans to safeguard the staff who look after the Plan.
You may have seen recently in the news the falls in the global investment markets due in part to the potential spread of coronavirus (COVID-19). You may have also noticed changes in the value of your pension in the Plan due to movement in the underlying investments.
It is likely that the markets will remain volatile for the short to medium term. This volatility may well continue to be reflected in the value of your pension fund. You should remember that your pension is an investment and will be subject to changes in the markets. How much this affects you will depend on your age and what other pension savings you may have.
If you are not yet approaching retirement, then your pension is a long-term investment and the markets may have recovered before you need to use it. If you are nearer retirement, you may wish to consider the level of risk your investments, and if it is still appropriate for your retirement plans. However, you should take appropriate financial advice before making any decisions, should you feel you need that.
The Capita Pension Administration Team is not qualified to provide this advice but the helpline is equipped to answer any other queries about your pension in the coming weeks and months. However, we ask members to consider whether your query is urgent and if it could be answered by another method e.g. email or website.
For a list of FAQs in relation to coronavirus and pension investments please click here.
We will continue to keep a close eye on developments and, as the situation evolves, we will issue further communications.
Your health
If you have any concerns about your health or require more information please visit www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public
If you are a member of the Heinz Pension Plan or the Heinz 2000 Pension Plan (DB plans) please follow these links:
www.kraftheinzpension.co.uk/heinz2000pensionplan/faqs
www.kraftheinzpension.co.uk/heinzpensionplan/faqs