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Pension

SABIC UK Petrochemicals Pension Scheme

Annual Chair’s Statement for the Scheme Year

This statement has been prepared by the Trustee of the SABIC UK Petrochemicals Pension Scheme – Defined Contribution (DC) Section (“the Scheme”) in accordance with legal requirements.  It explains how the Trustee has met its legal obligations in relation to the management of the defined contribution section of the Scheme over the period 1 January 2024 to 31 December 2024 (“the Scheme Year”).

Download here the Annual Chair’s Statement for the Scheme Year

 

Statement of Investment Principles

Under the Pensions Act 1995 (as updated by the Pensions Act 2004), the SABIC UK Pension Trustee Limited (''the Trustee") as Trustee of the SABIC UK Petrochemicals Pension Scheme (''the Scheme") are required to prepare a statement of the principles governing investment decisions.

This Statement of Investment Principles (''the SIP") covers both the Defined Benefit and the Defined Contribution sections of the Scheme. Download here the Statement of Investment Principles

 

Environmental, Social and Governance Policy

The Environment, Social and Governance Policy (“the ESG Policy”) has been prepared by SABIC UK Pension Trustee Limited (“the Trustee”) to set out its views on Environmental, Social and Governance (“ESG”) factors. It considers how they are addressed, whilst meeting the overall objectives of the SABIC UK Petrochemicals Pension Scheme (“the Scheme”).

Download the ESG Policy here.

 

Implementation Statement 

This implementation report is to provide evidence that the Scheme continues to follow and act on the principles outlined in the SIP. This report details: 

  • Actions the Scheme has taken to manage financially material risks and implement the key policies in its SIP 
  • The current policy and approach with regards to ESG and the actions taken with managers on managing ESG risks 
  • The extent to which the Scheme has followed policies on engagement covering engagement actions with its fund managers and in turn the engagement activity of the fund managers with the companies in the investment mandate 
  • Voting behaviour covering the reporting year up to 31 December 2022 for and on behalf of the Scheme including the most significant votes cast by the Scheme or on its behalf 

Download here the Implementation Statement.