The confirmed changes > The reasons for the confirmed changes > What the confirmed changes mean for you > The DC Section

For members of the DC Section

On this page you’ll find more information about what the confirmed changes will mean for you, as a member of the DC Section of the Sibelco UK Occupational Pension Scheme (the ‘DC Section’).

This also now includes information about the confirmed transfer of your existing pension pot from the DC Section to the L&G Mastertrust.

For members of the DC Section

On this page you’ll find more information about what the confirmed changes will mean for you, as a member of the DC Section of the Sibelco UK Occupational Pension Scheme (the ‘DC Section’). This also now includes information about the confirmed transfer of your existing pension pot from the DC Section to the L&G Mastertrust.

As a result of the confirmed changes the Trustees of the Scheme have decided that your existing DC Section pension pot held in the Scheme will automatically transfer to the L&G Mastertrust on 23 August 2025. This includes any part of your pension pot that you have moved into drawdown and started to take a flexible income from.

This decision was reached by the Trustees after careful consideration, where they concluded that this transfer will be in the best interests of their members.

The Trustees have asked us to include information about your transfer on this page, so that you have all the information in one place about paying into the L&G Mastertrust and the transfer of your pension pot.

The changes will only affect your pension pot in the DC Section. Your DB Section benefits in the Sibelco UK Occupational Pension Scheme will not be affected by the confirmed changes or the transfer.

What will happen and when?

For your new payments into the L&G Mastertrust:

The Trustees of the Scheme sent you a letter on 23 July to give you notice of the transfer. Your letter contains important information about your transfer, so please read it carefully. If you have not received your letter, please contact L&G.

15 August

You'll make your last payment into the DC Section.

23 August to midnight on 14 September

You’ll be able to choose how to invest these new payments before you make your first payment by logging into your L&G pension account, My Account (MA) on or after 23 August.

If you don’t make an investment choice by midnight on 14 September 2025 your first payment will be invested in the L&G Lifetime Advantage Funds (‘LAFs’).

15 September

You'll start to pay into the new L&G Mastertrust in September.

There won't be any cost to you for joining the L&G Mastertrust, or for making an investment choice for your new payments before midnight on 14 September 2025.

For the transfer of your existing pension pot from the DC Section to the L&G Mastertrust:

23 August

The full value of your existing pension pot will automatically transfer from the DC Section to the L&G Mastertrust. This includes any part of your pension pot that you have moved into drawdown.

When your pension pot transfers to the L&G Mastertrust it will continue to be invested in the same funds that it was invested in in the DC Section.

23 August to October

You’ll be able to choose how to invest your pension pot from the new range of investment options by logging into your L&G pension account, My Account (MA).

You will no longer be able to choose from the investment options available in the DC Section.

L&G will send you an email or letter as soon as the new L&G Mastertrust investment options are available to you through My Account (MA).

October

The exact date in October will be confirmed by L&G after your pension pot has transferred into the L&G Mastertrust.

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If you have made an investment choice for your new payments since joining the L&G Mastertrust then your existing DC Section pension pot would switch automatically to the same fund allocation you chose for new payments.

If you have not made an investment choice since joining the L&G Mastertrust then your existing pension pot would automatically switch to be invested in the L&G Lifetime Advantage Funds (LAFs).

There won’t be any cost to you for transferring your DC Section pension pot into the L&G Mastertrust.

Once your pension pot has switched to being invested in a fund or funds from the L&G Mastertrust’s range of investment options (either because you’ve made your own choice ahead of the October automatic investment switch date, or because your pension pot has automatically switched investment option in October), you’ll:

Continue to be able to manage how your pension pot is invested by choosing from the full range of investment options available in the L&G Mastertrust, and
Pay any associated costs and charges for making changes to how your pension pot is invested (just like you do today in the DC Section).

It's important that you check and update your Selected Retirement Date by logging into your L&G pension account, My Account (MA).

This is the age that you think you will want to start to use your pension pot.

Getting this right is important if your pension pot is invested in one of the investment strategies that automatically move your investments over time as you approach retirement, as it helps to make sure that your investments switch into funds that aim for lower risk at the right time.

It’s also important so that L&G can send you the right information, at the right time to help you plan for retirement.

Your current Selected Retirement Date will transfer over to the L&G Mastertrust on 23 August 2025.

If you haven’t chosen a Selected Retirement Date in the DC Section, it would automatically be set to age 65 – but you can change that at any time before or after your pension pot transfers. And, if your plans change in the future, you should update your Selected Retirement Date.

Do you need to complete a new nomination of beneficiary form?

If you’ve already completed a ‘nomination of beneficiary’ form via My Account (MA) in the DC Section, then your wishes will transfer across to the L&G Mastertrust.

The L&G Mastertrust Trustees will use this information to help them decide who would receive the value of your pension pot if you were to die and still had money invested.

Now is a good time to check and update your nomination of beneficiaries, to make sure your wishes are up to date

You can do this before, or after your transfer to the L&G Mastertrust on 23 August, by logging into My Account (MA).

Or, if you would prefer to complete a paper form, you can download and complete a new ‘Nominate your beneficiary’ form for the L&G Mastertrust after your pension pot has transferred (from 23 August), and then either:

email it to the email address shown on the form, or
send a printed copy to the postal address shown at the end of the form.

What happens if I want to use some or all of my pension pot before the transfer?

Typically it takes a minimum of 6 weeks for L&G to process a retirement request. This timeframe varies depending on how you’ve chosen to use your pension pot – sometimes it takes less time, and sometimes it takes a little longer.

If you have not yet contacted L&G to request to start to use your DC Section pension pot, then we recommend waiting until after the transfer has taken place to make your request (after 23 August 2025). If you make a retirement request before the transfer that does not complete by 23 August, you may need to fill in the forms again.

What will happen to any drawdown payments that I have set up in the DC Section once I transfer to the L&G Mastertrust?

If you have:

regular payments scheduled from your drawdown pot (for example monthly payments), or
if you have set-up a one-off payment that will be paid after you transfer to the L&G Mastertrust on 23 August 2025,

these instructions should transfer with your drawdown pot and be paid as planned. But we recommend checking your drawdown instructions via your My Account (MA) after your transfer to make sure everything looks as it should.

Your DC Section document library

Any communications that include information about the DC Section you’ll find here:

Your Consultation outcome letter

Your start of Consultation letter

Your guide to the Defined Contribution Section

Your guide to the L&G Mastertrust fund range (DC Section)

Your guide to the L&G Mastertrust Investment Pathways (DC Section)

You’ll find any general communications about the confirmed changes or the L&G Mastertrust in the main document library.

Log in to your L&G pension account

You can check how your pension pot is doing at any time by logging into your L&G pension account, My Account (MA).

If you’re already registered, you can log into your online account using your user ID and password.

If you haven’t registered, it’s quick to do. Just follow these three steps:

Visit My Account (MA).
Complete your personal details. You’ll need your account number, which is shown on any letters you’ve been sent by L&G.
L&G will then send you an email which will contain an activation link to complete your registration.

Contact L&G

Email: employerdedicatedteam@landg.com

Call L&G’s helpline on:

0345 070 8686

Phone lines are open between 8.30am and 7pm Monday to Friday.

Here you’ll find a reminder about the DC Section vs the L&G Mastertrust.

	The DC Section	The L&G Mastertrust
Who looks after the pension scheme?	The DC Section is looked after by a combination of member-appointed and Company-appointed Trustees, along with an independent, professional Trustee. The DC Section is administered by Legal & General.	The L&G Mastertrust is looked after by independent, professional Trustees, appointed by Legal & General. The L&G Mastertrust is also administered by Legal & General.
What will I pay in, and what will the Company pay in?	Each member of the DC Section has their own personalised contribution rate, which is paid from their Pensionable Earnings. Sibelco pays in two-thirds of your standard personalised contribution rate into your pension, and you pay in the rest. If you’re not sure what you pay in currently you can find out by looking at your most recent payslip. You can choose to pay in less than your standard amount as long as what you pay in is no less than the lower of: one-third of your personalised DC contribution rate, and 6.5% of your Pensionable Earnings. Or you can choose to pay in more. If you pay in more Sibelco won’t pay in more than two-thirds of your standard personalised contribution rate.	All members will keep the same personalised contribution rate, and Sibelco will continue to pay in two-thirds of your personalised contribution rate into your pension. You will continue to be able to choose to pay less or more than your standard personalised contribution rate in the same way as you can today.
How will I pay in?	You pay into your pension pot through something called ‘Smart Pension’ (also known as ‘Salary Sacrifice’) if you’re eligible. This is a tax-efficient way of paying into your pension and it means that you give up the part of your pay you would otherwise have paid into your pension, and Sibelco pays that amount into your pension instead. As a result, most members pay less in National Insurance and less tax.	You will continue to pay into your pension pot through ‘Smart Pension’ (also known as ‘Salary Sacrifice’) if you’re eligible.
How will my Pensionable Earnings be worked out?	Your Pensionable Earnings is based on your salary, excluding any bonuses or benefits-in-kind you might get (and before you give up any salary under Smart Pension).	Your Pensionable Earnings will continue to be based on your salary, excluding any bonuses or benefits-in-kind you might get (and before you give up any salary under Smart Pension).
How will my pension pot be invested?	If you haven’t made your own investment choice, your pension pot will be invested in the Lifestyle drawdown option. Many of you have chosen how you want to invest your pension pot from a range of other options, which include: two alternative lifestyle options, and a range of Self-Select funds. If you’re not sure how your pension pot is invested, you can check by logging into your L&G pension account, My Account (MA).	If you don’t make your own investment choice, your pension pot will be invested in the L&G Lifetime Advantage Funds (‘LAF’). Just like today, you will continue to have a number of other options for how to invest your pension pot, which will include: a range of L&G Target Date Funds, a range of Self-Select funds, and a range of Self-Select Lifestyle strategies. Find out more about how your pension pot will be invested.
What will the charges be?	What charges you pay today depends on how your pension pot is invested. If your pension pot is invested in the Lifestyle drawdown option you’ll pay between 0.33% and 0.43% of the value of your pension pot each year (depending on how many years you are from retirement). If your pension pot is invested in a different way, you can check the investment charges you pay by logging into your L&G pension account, My Account (MA) or you can look up the fund charges in the Appendix of ‘Your guide to the Defined Contribution Section’.	What charges you will pay will also depend on how your pension pot is invested. But all charges in the L&G Mastertrust will be the same or lower than what you pay in the DC Section today. If your pension pot was invested in the L&G Lifetime Advantage Funds (‘LAF’) you will pay between 0.15% and 0.28% of the value of your pension pot each year (depending on how many years you are from retirement) – which is significantly less than the fees for the current Lifestyle drawdown option. If you choose to invest your pension pot in a different way, you can check the investment charges you will pay in the 'G uide to the L&G Mastertrust fund range (DC Section)'.
Who will pay the charges?	You pay the Fund Management Charge (FMC). Sibelco pays the Annual Management Charge (AMC) – which covers the day-to-day costs of managing your DC Section pension.	You will continue to pay the Fund Management Charge (FMC), which will be the same or lower than what you pay in the DC Section today. Sibelco will continue to pay the Annual Management Charge (AMC) – which will cover the day-to-day costs of managing your L&G Mastertrust pension. You’ll find more about the L&G Mastertrust fund range, including the investment charges in the 'G uide to the L&G Mastertrust fund range (DC Section)'.
What will be paid to my loved ones if I die and I’m working for Sibelco and paying into the pension scheme?	A lump sum of 6x your Pensionable Earnings is paid to your loved ones at the time of your death. This is known as a ‘death-in service’ benefit and is provided by an insurance company. Plus, your loved ones would get the total value of your DC Section pension pot.	A lump sum of 6x your Pensionable Earnings will continue to be paid to your loved ones at the time of your death.Plus, your loved ones would get the total value of your pension pot from the L&G Mastertrust.
How will I check in on my pension?	You can check how your pension pot is doing at any time by logging into your L&G pension account, My Account (MA). If you’re already registered, you can log in to your online account using your user ID and password. ------------------------------------------- If you haven’t registered, it’s quick to do. Just follow these three steps: Visit My Account (MA). Complete your personal details. You’ll need your account number which is shown on any letters you’ve been sent by L&G. L&G will then send you an email which will contain an activation link to complete your registration.	You will continue to be able to check how your pension pot is doing by logging into your L&G pension account, My Account (MA). Your user ID and password will not change. So, if you haven’t already registered for an account – now is a great time to get yours set up.

More in this section...

The confirmed changes

The reasons for the confirmed changes

What the confirmed changes mean for you

Log into your L&G pension account

Site map

The confirmed changes

The C onsultation process

About the L&G Mastertrust

Document library

Legal

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