Your transfer > Your transfer timeline > Things to consider
Your transfer
Sibelco recently carried out a Consultation to change the pension schemes that Sibelco and their employees pay in to.
Earlier in July Sibelco confirmed that this change will go ahead, and the Legal & General WorkSave Mastertrust (the ‘L&G Mastertrust’) has been confirmed as the new Sibelco pension scheme for all employees to pay into from September 2025 and onward.
Your transfer
Sibelco recently carried out a Consultation to change the pension schemes that Sibelco and their employees pay in to.
Earlier in July Sibelco confirmed that this change will go ahead, and the Legal & General WorkSave Mastertrust (the ‘L&G Mastertrust’) has been confirmed as the new Sibelco pension scheme for all employees to pay into from September 2025 and onward.
As a result of these changes, we (the Trustees of the Sibelco UK Occupational Pension Scheme), at the request of Sibelco and after taking professional advice, have decided that your DC Section pension pot held in the Scheme will be automatically transferred to the L&G Mastertrust on 23 August 2025. This includes any part of your pension pot that you have started to access flexibly (by moving it into ‘drawdown’) in the DC Section.
This decision was reached after careful consideration, where we concluded that this transfer will be in the best interests of our members.
The transfer will only affect the pension pot that you have built up in the DC Section. Your DB Section benefits in the Sibelco UK Occupational Pension Scheme will not be affected by this transfer.
Although some things will change, there’s also a lot that will stay the same too.
Once your DC Section pension pot is automatically transferred to the L&G Mastertrust on 23 August, you’ll have:
- A wider range of investment options, including a new automatic (or ‘default’) investment option, if you don’t make your own choice.
- The same or lower charges for managing your investments than what you pay in the DC Section today.
- A new set of Trustees to look after your pension pot.
Terms explained
The DC Section is the part of the Sibelco UK Occupational Pension Scheme (the ‘Scheme’) that holds members’ DC pension pots. It’s separate to the Defined Benefit (‘DB’) Section of the Scheme – the part that holds members’ DB pensions. There will be no changes to the DB Section as part of the confirmed changes or this transfer.
A mastertrust is a UK pension scheme that more than one employer can join. It’s provided by a company independent to Sibelco, and it's managed by a group of dedicated Trustees. Explore more about the L&G Mastertrust – the Legal & General WorkSave Mastertrust that your pension pot will move to.
But lots of things will stay the same too:
- Sibelco will still cover the day-to-day costs for managing your pension.
- L&G will continue to manage your pension. So you’ll have the same access to My Account (MA) – so you won’t need to set up a new online pension account or make any changes to your login details.
- You’ll still have access to L&G’s range of tools to help you manage your pension pot.
- You’ll have the same flexible options for how you could use or manage your pension pot at retirement.
