The legal and regulatory processes to execute the changes to the structure of the covenant to the Scheme to support Banking Reform have been completed.

The legal and regulatory processes to execute the changes to the structure of the covenant to the Scheme to support Banking Reform have been completed. These changes took effect from 1 July 2018. The Trustee’s objective was to ensure the security of members’ benefits after the implementation of Banking Reform was maintained. The Trustee is pleased to confirm that they have secured this position.

Look out for a communication from the Trustee explaining this in more detail shortly. Alternatively, if you would like to know more please view the FAQ and letter here. If you have any immediate queries please contact the WTW Administration team here.