The Trustee (Prudential Staff Pensions Limited) works with several firms of professional advisers, as experts in their areas, to make sure our Scheme is managed to a high standard and according to the Trust Deed and Rules.

One of these advisers is Willis Towers Watson (WTW). They support us with the actuarial services for the Scheme in terms of financial oversight, funding, risk management, investment and governance.

For many years, the WTW team has been led by Colin Singer, who was up to the end of last year, our named Scheme Actuary. His successor is Neil Wharmby, who has worked with Colin on the Prudential Staff Pension Scheme for many years. One of Neil’s first major tasks will be to lead the next full ‘triennial valuation’ which is a process which has just started.

“We are very grateful for the significant contribution Colin has made to the sound financial health of the Scheme. We know Neil very well and the Trustee Board was very pleased to appoint him as Scheme Actuary” - Keith Bedell-Pearce CBE, Chairman of Prudential Staff Pensions Limited.

The ‘triennial valuation’ is a large, complex exercise which normally takes several months to complete. We will communicate the results to you once it is complete, but in the meantime you can find the 2022 Summary Funding Statement where you can see, at a glance, how the Scheme has been performing and compare it to previous years.

You can also find out more about how the investments are managed and the Scheme’s Actuary’s responsibilities within our Statement of Investment Principles.