The Scheme is run by a corporate trustee,
Lloyds Banking Group Pensions Trustees Limited (LBGPTL) (the Trustee).
The Trustee is responsible for managing the Scheme, and has the commitment and financial support of the Group. The Trustee's first priority is the best interests of the members. It administers the Scheme in line with the Scheme’s Trust Deed and Rules and any other relevant legislation, and has committees covering areas like administration and investments.
The Trustee has established a formal Internal Dispute Resolution Procedure to deal with the resolution of disputes between the Trustee, members of the Scheme and beneficiaries. You’ll need to put your complaint in writing to:
Trustee Support Manager Lloyds Bank plc Lloyds Banking Group Pensions Department 3rd Floor Computer Building Trinity Road Halifax HX1 2RG
You will receive a written decision, where possible, within four months.
If you are still dissatisfied, you have a right of appeal to the Trustee (Operations Committee).
You can obtain a copy of the procedure from Group Pensions.
Members dissatisfied with a decision reached under the Scheme’s formal procedure can pursue a complaint with the Pensions Ombudsman.
The Scheme's assets are held in a trust completely separately from those of the Group and cannot be used for any other purpose.
Assigning your benefits
You cannot assign your benefits under the Scheme or use them as security for a loan.
Tax status of the Scheme
The Scheme is registered with HM Revenue & Customs under Chapter 2 of Part 4 of the Finance Act 2004. This means that the Scheme and its members enjoy a number of tax advantages. The tax position of the Scheme may, however, vary from time to time. If you’re not a UK resident some of the provisions detailed may not apply to you.
You can view information on Scheme funding, governance updates and policy documentation in the Scheme Documents Library.