Under auto enrolment legislation, the Group must enrol all eligible jobholders into a workplace pension scheme.

If you're already an active member of one of the Group's pension schemes this change in legislation will have no effect on your membership. All the Group’s schemes meet or exceed the government’s new standards for workplace pensions.

If you're not currently an active member of one of the Group's Schemes, or if you opt out of your current Scheme while you’re still employed by the Group and you are an eligible jobholder, we may have to enrol you into Your Tomorrow.

If you don’t currently meet the criteria but your circumstances change in the future, we'll automatically enrol you into Your Tomorrow in the month this happens. We'll also write to tell you if you've been automatically enrolled and you'll have the chance to opt out if you wish.

For more information, please visit auto enrolment.

You may be aware that organisations and individuals are increasingly being targeted by cyber criminals. There's some important basic principles you should follow to protect yourself from a cyber attack.

Cyber Security Principles

The following simple steps will help protect you online:

• When browsing the web, only visit sites that you know and trust. Take particular care when clicking on search results and links, and when entering the website address (known as a URL). Cyber criminals often register website addresses that are similar to genuine ones in the hope of catching people out.
• We'll never ask you to download anti-virus software from our pensions websites.

Viruses can also be introduced into computers via emails that contain harmful attachments or links:

• Don't click on embedded attachments or links within emails unless you know the email has been sent from a reliable source and you were expecting it.

For more information, visit www.lloydsbank.com/help-guidance/security/what-can-you-do.asp

The Pensions Regulator, Financial Conduct Authority and HMRC are warning against pension offers that claim to be able to provide loans or release tax free cash from your pension fund before you reach age 55.

The authorities have recently detected an increase in bogus schemes and are urging people not to be taken in by website promotions, cold calls or adverts encouraging you to transfer existing pension rights to a new arrangement in order to access a cash payment or loan. Such schemes usually work by transferring your pension fund into risky or opaque investment structures, often based overseas, with no guarantee that you'll get your money back if something goes wrong.

The benefits payable to you on retirement or to your dependants could be reduced if you take up any form of pension scam offer. By accessing pension savings earlier than the law permits, you’re likely to be poorer in retirement and could face substantial tax charges. As ever, if the offer sounds too good to be true, it probably is!

Visit The Pension Regulator for more information.

The Trustee can't offer advice on any potential transfer but would recommend that you contact a financial adviser before transferring any of your pension savings out of the Scheme. Visit unbiased.co.uk to find a financial adviser in your area.

Following the changes to the State Pension from 6 April 2016, the Group's Defined Benefit (DB) pension schemes are no longer contracted out of the State Second Pension (S2P).

This means that from this date, National Insurance contributions for members of these DB schemes rose by 1.4% of band earnings per month.

The Group's National Insurance bill also increased by 3.4% of the band earnings for these members.

For more information on these changes, please see Changes to State Pension and contracting out.