UK pensions
Welcome to our UK pensions guide, your new, go-to resource for understanding more about the Croda Pension Scheme and the benefits it provides its members. Whether you're planning for retirement, managing your pension, or exploring options regarding benefits, this page offers valuable insights and practical advice to help you make informed decisions for a secure financial future, as well as providing the relevant contact details for our pensions team.
For any further information , please contact the pensions team using the details below.
Contact details:
Phone: 01405 860551
Email: pensions@croda.com
Croda Pension Scheme TCFD Report March 2024
Croda Pension Scheme, Implementation Statement 2023
Croda UK Pension Scheme Statement of Investment Principles
Pensions
Please find all the relevant information about pensions in the UK below.
Pension Trustees
Croda appointed Trustee Director and Chair: Graham Myers
Other members: Dave Cherry, Julia Creasey, John Hurst, Rob Walthall, Marie Banks and Kevin Nutbrown
These individuals act as Trustee Directors who together form the Board of the Pension Scheme Trustee, Croda Penson Trustees Limited.Death benefits
Nominated beneficiary form
Please print, complete and physically sign the form. Forms can be sent via post to the Pensions Department, Cowick Hall, Snaith, Goole, DN14 9AA or we can accept a scanned copy to pensions@croda.com.
Croda nomination form Feb 2020
Retirement
Payment of pension
Pension payments will commence on the second to last banking day of the month of your retirement. The pension then continues to be paid on the second to last banking day of each month. Your pension will be paid in arrears and it will be subject to income tax under the PAYE System. The pension is payable for the remainder of your life.
Increase to the minimum age to draw your pension
From 6 April 2028, the minimum age to draw your pensions is increasing from 55 to 57.
Late retirement
If you choose late retirement under the Croda Pension Scheme, be aware of the "forfeiture" rule. This rule means that if you delay drawing your pension beyond six years after reaching your Normal Retirement Age (NRA), you begin to lose entitlement to future pension instalments for the period until you claim. This forfeiture is a permanent loss, not a temporary reduction that will be refunded later, so it's crucial to start your pension on time to avoid losing out.
