About the Scheme

The Scheme closed in December 2018. The money you’ve saved in the DC Section remains invested in your pension account for your future. If your investments do well, your savings should grow (although this isn’t guaranteed).

When you want to access the money in your account, you have some choices. If you wish to, you can take up to 25% as a tax-free lump sum and use the rest to provide a taxable retirement income. Whether you’re taking a lump sum or not, your options are:

• buy an annuity
• transfer to an income drawdown arrangement
• take taxable cash payments, either over two consecutive tax years or in one go.

Your benefits will remain for you in the DC Section until you either decide to take them or transfer your pension account to another registered pension scheme. If you die before you take your benefits, the Trustee will decide who should receive the money in your pension account. If you have a spouse or civil partner, they will receive an annuity if you have RST benefits. Any excess (or the full amount, if you don’t have a spouse) will be paid as a lump sum.

Looking after the Scheme

The Scheme is managed by an independent trustee company called Kimberly-Clark Pension Trusts Limited. It has a trustee board made up of six Trustee Directors. Two of the Trustee Directors have been appointed by Kimberly-Clark, three have been nominated by the members of the Scheme and are known as member-nominated Directors (MNDs), and there is one Professional Trustee Director who chairs the Trustee Board.

The Trustee is responsible for running the Scheme in line with the Trust Deed and Rules and pensions law. The assets of the Scheme are held by the Trustee company and are completely separate from Kimberly-Clark.