Annual Report 2017
The Annual Report for the year ended 31 March 2017 is now available here.
In the foreword, the Chairman, David Kidd, sums up the year, as follows: ‘The Trustee Board held four formal meetings during the year ending 31 March 2017 as well as several conference calls. This year the meetings were held in London at our advisers’ offices.
‘The major concern during the year has been the ongoing 2015 Triennial Valuation which we had hoped to settle in the autumn of 2017 but which is still not resolved. The Pensions Regulator has been kept informed and updated during the long, drawn-out process to resolve the issue of the covenant. The employers, British Tourist Authority and VisitScotland, are trying to secure guarantees from their respective governments. At the conclusion of the financial year, this matter had still not been resolved. Another Triennial Valuation is due in March 2018.’
Read the full report here.