News from the Trust
Meet your Trustees and catch up with the latest news from the Savings Trust.
Your Trustee Board
The Savings Trust is managed by a corporate Trustee company called Rolls-Royce Retirement Savings Trust Limited.
The Board of Trustee Directors (the Trustees) is formed of eight Trustee Directors. Five are Company-appointed and three are member-nominated. The Company-appointed Trustee Directors include the Chair and a Trustee Director nominated by the Central Negotiating Committee (CNC).
Together, they run the Savings Trust in the interests of all its members and are responsible for:
Governance of the scheme
Monitoring investment performance and investment options
Monitoring the administration team at Aviva, who are also audited independently by Deloitte LLP as part of the annual audit.
Trustee Directors attend four quarterly meetings and an annual strategy event. Each Trustee Director is typically in place for a four-year term, serving a maximum of two terms.
Company-appointed Trustees
Mark Porter (Chair)
Works Convenor / Chair of UK Council
Fiona Brown
Group Head of Pensions &
Benefits
Steph Parsons
VP People
Nick Sloan
CNC Machinist / Senior TU
Representative
Teresa Waine
Internal Audit Manager
Member-nominated Trustees
Roger Dale
Buyer – Branch Treasurer
& Senior Staff Representative
Kevin Wright
General Machinist
Rob Gilbert
Development Engineer
Advisers to the Trustee Board
The Board is assisted by these professional advisers:
Pensions Adviser
Pensions Department, Rolls-Royce plc, Derby
Administrator
Aviva Life & Pensions
Auditors
Deloitte LLP
Investment Consultant
Mercer
Investment Manager
Aviva Life & Pensions
Investment Management Adviser
BlackRock
Life Assurance Providers
Aviva and MetLife
Secretary to the Trustee
Richard Hill, Pensions Manager, Rolls-Royce plc, Derby
Active members
The contribution journey
Have you wondered what happens to that deduction you see on your payslip every month? We know the answer’s yes, as we get lots of questions about it!
In the era of online banking and faster payments, we’ve all got used to seeing money leave one place and arrive somewhere else within seconds. But it’s not quite the same with your retirement savings. Here’s how it all works…
Your contribution
You’ll see on your payslip it’s been taken from your pay. Behind the scenes, your colleagues in payroll add the Rolls-Royce contribution to it and send it over to Aviva. They do this for all of our 21,000+ active members.
At Aviva
The Aviva team receives a schedule of contributions for each member and a single big payment from Rolls-Royce. They allocate your share of that payment to your personal account in the Savings Trust.
Investing your money
Once allocated, the Aviva team checks where you’ve chosen to invest your money. They put in an order to the investment manager, and your contribution (and Rolls-Royce’s) buys units in your chosen investment fund(s).
Investments secured
The investment manager confirms to Aviva the number of units the contributions have secured. On receipt of this, the team at Aviva updates your Savings Trust account, making everything visible on MyWorkplace.
As you can see, there’s a lot to do for a large group of people. And of course, to keep everything accurate and secure, there’s a lot more going on behind the scenes than we can show here.
The law says that your Savings Trust contributions must arrive at Aviva by the 19th of the month after they are taken from your pay. But thanks to the combined efforts of your colleagues at Rolls-Royce and the Aviva team, you’ll generally find this whole process is completed within 5-7 working days.
All members
MyWorkplace – the home of your retirement savings
The Savings Trust is administered for us by Aviva. As well as a dedicated team that you can speak to, Aviva makes day-to-day engagement simple through the MyWorkplace app and website.
Just over 75% of Savings Trust members have registered, allowing them to quickly and easily keep an eye on their retirement savings as well as accessing lots of useful tools like the Retirement Forecaster. If you’ve not registered, check out our guide that’ll show you what to do.
New for 2025
✓ A revamped Contribution History section, allowing you to see more easily what’s been paid in. You can view this by the last 12 months, by tax year, by a custom date range or just see everything.
✓ The updated Retirement Forecaster has always allowed you to customise your forecast by amending your contribution level. But you can now model the impact of a contribution break, too. And as before, you can still amend things like investment risk, retirement age and any other pensions that you have.
MyWorkplace is divided into five sections to make it easier to find what you need. Here’s what you’ll find in each of them.
Overview
Check the contributions going into your Savings Trust account and get an overview of how your investments are performing. Start using the Retirement Forecaster and find educational content about planning for retirement.
About this pension
Review and amend your retirement age, nominate beneficiaries for death benefits and dive deeper into your account, with links to your full transaction history and much more. Access any documents that Aviva sends to you, like your annual benefit statement and transaction confirmations.
Funds and investments
See where your money is invested, with values updated daily and interactive past performance charts. And if you want to, you can make changes to your investments at any time.
Transfer into this pension
Find out how to transfer any other retirement savings into the Savings Trust and where you can get help with making this decision.
Support
Get support from the Aviva chatbot and other third-party websites. If that doesn’t help, you’ll find contact details for the Aviva team here, too.
Remember, the Savings Trust is administered by Aviva, so as a rule, if you want to ask a question about anything you see on MyWorkplace or your annual benefit statement, or if you want to get a retirement quote, please get in touch with the Aviva team. You can find their contact details in the Help & Support section of this newsletter.
All members
Future developments – Guided Retirement
Right now, like many other defined contribution pension schemes, the Savings Trust doesn’t offer retirement options. Instead, you’re encouraged to shop around at retirement and find the best deal that fits with your personal circumstances. That’s why taking retirement advice (either with WPS Advisory or a regulated independent financial adviser) is so important.
However, we’re starting to look into providing a Guided Retirement option as part of the Savings Trust. Essentially, if you chose this option, your retirement savings would be split into three pots at retirement:
1.
A flexible drawdown pot to provide income in the first part of your retirement
2.
A smaller pot for unexpected bills
3.
A third pot to buy guaranteed later-life retirement income, from around age 80
This approach could give you greater flexibility in the early years of your retirement, as well as providing reassurance later in life that you won’t run out of money, which is a risk with drawdown. Research shows that many people are less confident about making this sort of decision in their 80s, so it could be in their interest to make it earlier in life.
Guided Retirements are intentionally simple and won’t be for everyone. But they could provide another option for people looking for less complex retirement solutions. Of course, if the Savings Trust offers this in the future, you’ll still be able to look at what else is available to you on the open market.
There’s a lot to consider around Guided Retirement and we’ll provide further updates in future newsletters as our plans develop.