Chair’s message
I’m pleased to introduce the latest update from the Hanson Industrial Pension Scheme (the Scheme).
The first half of this year has been marked by a high level of global uncertainty, with ongoing geopolitical developments and economic pressures continuing to feature prominently in the news. It’s natural that periods like this can raise questions about financial security and the resilience of long‑term plans.
Against this backdrop, I’d like to reassure you that your pension from the Scheme remains secure. As a Defined Benefit (DB) pension scheme, your payments are not linked to short term market movements. The Trustee continues to monitor the Scheme’s funding position closely and works with Heidelberg to ensure the Scheme remains well placed to meet its obligations, with pensions continuing to be paid in full.
You’ll find an update on the Scheme’s funding position in the Summary Funding Statement, including the results of the most recent funding update. Please take the time to read it as it contains important information about the financial health of the Scheme.
Furthermore, in this edition of the newsletter, you’ll find updates on upcoming changes to Inheritance Tax, practical reminders on keeping your personal details and keep your Expression of Wish up to date, as well as guidance on avoiding pension scams - an issue that continues to grow.
It's important to keep your personal details up to date so you don’t lose touch with your pension. The quickest and easiest way to do this is online. Alternatively, you can get in touch with the Scheme administrator using the contact details below:
You can contact us online: Log in to portal.hartlinkonline.co.uk/hanson and complete the ‘Contact Us’ form.
You can write:
Hanson Industrial Pension Scheme
Capita Pension Solutions
PO Box 555
Darlington
DL1 9YT
You can call: 0345 600 0591
Finally, you may be aware that there was another pension scheme within the Heidelberg Materials Group called the Powerhouse Pension Scheme. The Trustee and Heidelberg Materials decided to merge this scheme into the HIPS Defined Benefit Scheme. While this does not impact your benefits, we wanted to keep you informed of this change and welcome our former Powerhouse members to HIPS!
Yours,
Mike Smaje
Chair, HIPS Trustee Board
Are you using the Scheme’s online pension portal?
The online portal puts all the information about your Hanson pension at your fingertips. It provides a secure and convenient way to view and manage your pension.
Once you register, you’ll have access to all the functions the portal has to offer, including:
- Updating your personal details.
- Making sure your Expression of Wish form is up to date.
- If you’re already receiving your pension, view your monthly pension payslips and annual P60s.
- If you’ve not taken your pension yet, you can find out how much you might get at retirement or get an estimated value for transferring your pension.
Another benefit of activating your online pension account is that we can communicate with you electronically (by email and/or through the portal itself). This minimises delays, is better for the environment, and contributes to reducing the Scheme’s running costs. The Trustee takes its environmental, social and governance (ESG) responsibilities very seriously and this is one of the measures we’ve taken to do this.
You can access the portal here: portal.hartlinkonline.co.uk/hanson
Registering is easy. Just follow the steps on screen and input your details – you’ll need to have your National Insurance number to hand. Create a username and secure password (please note that your username cannot be your email address) for access at any time.
Keep your details up to date
It can be easy to lose touch with your pension, and we don’t want to lose touch with you! We want to keep you informed about how your savings are doing and let you know what options are available to you.
That’s why it’s important to keep your personal details, including your preferred email address, up to date. Logging in to the online portal is the quickest and easiest way to do this.
Summary Funding Statement
The Trustee undertakes an in-depth look at the Scheme’s finances (known as a “valuation”) at least every three years. The valuation is carried out by an independent actuary using assumptions that are agreed by the Trustee and the Company. When the valuation is completed, the Trustee receives a report summarising the actuary’s conclusions which is available to you if you wish to read it.
The most recent funding update is now available, providing you with an update of the financial position of the Defined Benefit (DB) Section of the Scheme. Please take a few minutes to read it, as it will help you understand the financial arrangements which support your current and future pension benefits.
The Summary Funding Statement (SFS) relates to the DB section of the Scheme only, and therefore references to the Scheme, its assets and its liabilities mean those of the DB section only.
Following each actuarial valuation, the actuary advises what contributions should be paid into the Scheme to enable it to meet its liabilities to members. Contributions are required to:
- Address any shortfall in the Scheme;
- Meet the cost of ill health, redundancy and death in service benefits accruing for members who are still employed by the Company; and
- Meet the Scheme’s expenses and any statutory levies that are payable.
The Trustee then agrees a level of contributions for the Scheme with the Company and records this in the Schedule of Contributions.
Details of the Trustee’s approach to the valuation are set out in the Statement of Funding Principles. This document describes how the Trustee will manage the Scheme with the aim of it being able to meet its liabilities as these fall due.
The Trustee also receive from the actuary more regular and less formal “funding updates” to monitor the development of the Scheme’s assets and liabilities.
At retirement workshops
The transition to retirement is a big life change and can often feel daunting; from understanding your options to knowing how to retire and what some of the terms you will see mean.
In 2025, members who were over 50 years of age and still employed by Heidelberg Materials, were invited to a series of free online retirement workshops to attend. Due to their success, they are also being run through 2026.
Run by the Scheme’s administrator, Capita, the workshops offer guidance on pensions and explore the subject of retirement planning. They provide an opportunity to ask questions and share your thoughts and ideas.
Topics covered in the workshops include:
- An overview of pensions and the Hanson Industrial Pension Scheme
- Income options at retirement
- Tax and allowances
- Estate planning
- How to plan for retirement
- Lifestyle in retirement
- Financial advice and guidance
We’ve received some really positive feedback from members who attended the sessions:
“Great sessions, no question unanswered, left me wanting more information and to make time to look at something which previously I didn’t have clue about. Just wish I’d had this information earlier in the scheme as my choices would probably have been different.”
“I was completely clueless about pensions and literally had no idea about the terminology used in relation to pensions. I'd buried my head in the sand believing that I didn't need to worry about it yet (early 50's). I would have probably been of the same mindset had I have not attended these sessions. Everything was clearly explained and put into context. It has been really really useful for me, thank you!”
“Really interesting sessions thank you.”
“It was a good presentation making very clear the information.”
Workshops for 2026 are underway and if you’re interested in attending, please contact your line manager or HR representative.
Scheme merger update
You may be aware that there was another pension scheme within the Heidelberg Materials Group called the Powerhouse Pension Scheme. The Trustee and Heidelberg Materials made the decision to merge this scheme into the HIPS Defined Benefit Scheme (HIPS DB).
The merger has now been successfully completed, and all Powerhouse Scheme members are now part of HIPS DB. This change does not impact your benefits within the Scheme.
Bringing both schemes under a single governance structure will reduce both trustee and management time whilst also improving the security of members’ benefits. Due to HIPS DB’s larger size, this merger does not materially affect its stability. Additionally, as both schemes were already managed by the same administration team, no transfer of knowledge or information needed to take place.
Changes to Inheritance Tax
We want to keep you updated on general pensions news and information that we think you’ll find useful.
It’s intended that with effect from 6 April 2027 that most unused pension funds and death benefits will fall within a member’s estate for the purposes of calculating Inheritance Tax (IHT).
The legislation was formally introduced by the government with changes in the Finance Bill 2025-26 and received Royal Assent in March 2026.
The government has stated that most estates would continue to pay no IHT, even after the changes.
Unused pension funds
When a pension scheme member dies, the Scheme Rules will determine who receives any unused pension funds or death benefits. Under a Defined Contribution (DC) arrangement any unused scheme funds are normally able to be passed on and paid out to beneficiaries in the form of death benefits.
Currently, unused pension funds generally fall outside an individual’s estate for the purposes of calculating IHT. From 6 April 2027, when a pension scheme member dies with unused funds or without having accessed all of their pension entitlements, those funds will be treated as being part of that person’s estate and may be liable to IHT.
Discretionary death benefits
Whilst DB arrangements don’t generally have a dedicated fund which can be inherited, various death benefits may be payable (e.g. lump sums or pensions). Under the rules of most occupational pension schemes, trustees have discretion in deciding who will receive certain death benefits (often referred to as “discretionary death benefits”).
Lump sum and pension death benefits paid to spouses and civil partners will generally remain exempt from IHT, as will children’s scheme pensions.
You can read more about IHT and how it works here.
If you wish to consider this further, we recommend you contact a financial advisor. The Trustee is not able to provide tax advice, and the above information is solely intended to bring to your attention the changes to IHT as announced by the government.
How your pension can benefit your loved ones
With your Hanson pension, you’re already making valuable provision for your own financial future but did you know that, in the unthinkable event of your death, you could help protect your loved ones from financial hardship during an already difficult time?
The Trustee will normally follow your wishes when it comes to deciding who should receive any potential benefits. To make that decision straightforward for the Trustee, it’s really important for you to complete an Expression of Wish form and keep those details up to date if your wishes or circumstances change.
Whether you’ve never completed an Expression of Wish form, or it’s been a while since you last updated it, we recommend you review your wishes so that your loved ones are protected.
The simplest way to let us know your wishes is through the online pension portal. Just go to portal.hartlinkonline.co.uk/hanson to get started.
If you haven’t previously registered for online access, don’t let that put you off – it’s a straightforward process and won’t take long to do.
Keep your pension safe: How to protect yourself from pension scams
Scams continue to grow across the UK with criminals using new methods to trick people. Some scams are very convincing and look like real messages from banks, government departments or even pension schemes.
We want to remind you of the importance of staying safe and being careful of scams.
The Pension Scams Action Group has put together a ‘Steps to stay scam free’ checklist to help you:
Is the offer unexpected?
It’s illegal for companies to make unwanted or unsolicited phone calls to people about their pension. If you’re contacted out of the blue about a pension opportunity it’s likely to be a scam. If you receive one of these phone calls, hang up.
Have you checked who you’re dealing with?
Always check the Financial Conduct Authority’s Firm Checker to see if the company you’re speaking to is Financial Conduct Authority (FCA) authorised. If in doubt check the register and use the contact details listed on there and not the ones given to you.
Stop and think – are you being rushed or pressured?
Scammers will often try and entice you with a limited time offer, putting pressure on you to take action quickly. You should take your time, do your research and make sure that your pension is safe. If it sounds too good to be true, it probably is!
Should you seek impartial advice?
There are guidance and advice services out there to help you. We strongly encourage members to consider speaking to an authorised financial adviser before making any big decisions about your finances. Always check the adviser you choose is regulated by the FCA.
Fraudsters are using sophisticated new tactics to target your savings. To keep up to date with scams these services can help:
- Report Fraud: The UK’s national reporting centre for fraud and cybercrime. It provides the most comprehensive, up-to-date information on current scams.
- Stop! Think Fraud: A government-backed, comprehensive resource that offers advice on how to spot and avoid the latest scams.
- National Cyber Security Centre: Excellent for phishing, email and digital scams.
- FCA - ScamSmart: Best for checking if an investment or pension opportunity is a scam.
- 7726 (Text Service): A free service where you can forward suspicious SMS messages or phone calls, which helps network providers block scammers.
Help and advice
Pensions and finance can often feel overwhelming and there’s lots to consider when working out what’s best for you and your circumstances. There are also lots of resources out there to help you, but it’s important to get the right help when you need it.
You can choose guidance or advice to help you and it's important to understand the difference between the two. As a general rule, guidance will suggest what you could do whereas advice will recommend what you should do. When it comes to your pension, only an FCA regulated adviser is authorised to give you advice.
As you approach retirement, the Trustee want to ensure members have access to the help they need and have approved LV= as a trusted advice partner, offering a whole-of-market review to help members explore their retirement options. LV= can provide personalised guidance or advice, though the Trustee has negotiated preferential terms for members, there will be some charges to use these services. To find out more about their services, please use the contact details below:
Email: CapitaRetirementOptionsService@lv.com
Phone: 0800 032 9099
There are also lots of other resources out there to help, which we’ve detailed below:
- MoneyHelper is a free, independent service provided by the government. It offers advice about pensions, benefits, savings and more.
- Pension Wise is a service from MoneyHelper, backed by government. They offer free, impartial guidance to over 50s.
- Money Saving Expert gives lots of guidance on everything from reducing your bills to finding the best deals for products and services.
- Age UK offers particular help for older people, including benefits you can claim to ease the pressure.
- Citizens Advice can help you if you’re facing problems such as debt.
The HIPS administration team is available to answer any questions you have about the Scheme and your benefits as a member. If you need to get in touch with them, you can:
You can contact us online: Log in to portal.hartlinkonline.co.uk/hanson and complete the ‘Contact Us’ form.
You can write:
Hanson Industrial Pension Scheme
Capita Pension Solutions
PO Box 555
Darlington
DL1 9YT
You can call: 0345 600 0591
Remember, they can’t offer financial advice. If you’re making important decisions about your pension savings or your retirement, you should get independent financial advice from a qualified financial adviser. You can visit the MoneyHelper website if you need help finding an adviser.