The latest Scheme documents
These reports, publications and statements provide information about the Scheme, how it is managed and its investment approaches. Select from the options below to read more.
Statement of Investment Principles (SIP)
By law, the Trustees of occupational pension schemes, including the Uniper Group of the ESPS, must put in place and maintain a Statement of Investment Principles (SIP).
There are detailed requirements for the contents of a SIP, which are set out in legislation and within best practice guidelines.
The Scheme’s sponsoring employer has a right to be consulted on the contents of the SIP, and any revisions the Trustees periodically make, but may not dictate the Scheme’s investment policy.
You can read the latest Statement of Investment principles for the Uniper Group of the ESPS below.
Statement of Investment PrinciplesImplementation Statement
Your Trustees look after the monies paid into the Scheme, and make sure they are invested appropriately, so they are available to pay the benefits which members have built up.
An Implementation Statement lets you know how the Trustees have followed the objectives and policies set out in their Statement of Investment Principles (SIP). You can find a copy of the SIP for the Uniper Group of the ESPS above.
Government regulations require the Trustees to produce an Implementation Statement every year.
In the Implementation Statement, the Trustees must explain:
- Any amendments made to the SIP during the period covered by the statement.
- How, and the extent to which, they have complied with their SIP.
- How they have demonstrated good stewardship over investments, including:
- a description of how, and the extent to which, policies on investment rights (including voting) and engagement described within the SIP have been complied with;
- a description of voting behaviour made by or on behalf of the Trustees; and
- a statement on any use of the services of a proxy voter.
The Implementation Statement below has been prepared by the Trustee in line with the regulations. It covers the Scheme year from 1 April 2024 to 31 March 2025.
Implementation StatementTaskforce on Climate-Related Financial Disclosures (TCFD) report
The Trustee of the Uniper Group of the Electricity Supply Pension Scheme (ESPS) believes that Climate Change is a systemic risk. It seeks to manage that risk on behalf of its members and the sponsoring employer.
The Trustee’s focus on Climate Change risk mitigation influences how the Scheme’s assets are invested.
The Trustee supports initiatives that contribute towards mitigating Climate Change risk on its investments.
The Trustee believes this approach will be in the long-term financial interest of members and that greater disclosure around Climate Change will lead to better investment decisions.
As such, the Trustee supports the recommendations of the Taskforce on Climate-Related Financial Disclosures (TCFD), which set out the types of information companies should disclose.
Every year, the Trustee publishes its own TCFD report, which outlines its approach to climate-related risks and opportunities.
The report is based on the TCFD’s recommendations and covers four key areas:
- Governance: The Scheme’s governance around climate-related risks and opportunities.
- Strategy: The actual and potential impacts of climate-related risks and opportunities on the Scheme.
- Risk Management: The processes used by the Scheme to identify, assess, and manage climate-related risks.
- Metrics and Targets: The metrics and targets used to assess and manage relevant climate-related risks and opportunities.
You can see a copy of the latest report below:
TCFD reportSummary Funding Statement (SFS)
The Trustees must complete a formal valuation, known as the Actuarial Valuation, at least every three years.
The Scheme Actuary calculates the value of the assets held within the Scheme and the cost of providing members’ benefits (liabilities). The difference between the assets and the liabilities is defined as the funding position of the Scheme as at the valuation date.
The Scheme’s latest full Actuarial Valuation was carried out by the Scheme Actuary as at 31 March 2022.
The Actuary also provides annual funding updates in between valuations. These are called Summary Funding Statements (SFS).
You can find the latest SFS for the Uniper Group of the Electricity Supply Pension Scheme (ESPS) below:
Summary Funding Statement