Issued on: 18 April 2011
The Pensions Trust, one of the leading occupational pension funds in the UK for the Third Sector, announces today that the SFHA Pension Scheme will now be known as the Scottish Housing Associations’ Pension Scheme (SHAPS).
SHAPS, the leading Scottish scheme for people working in the Scottish social housing sector, established in 1978, now serves more than 7,900 members and over 150 different housing groups.
The primary reason for the new SHAPS name is to avoid confusion between SFHA (the organisation) and the pension scheme.
Logan Anderson, Head of Customer Relations at The Pensions Trust, said: “The Pensions Trust believes the new name more accurately differentiates SFHA the organisation from the pension scheme. At The Pensions Trust, we are committed to ensuring our members can easily access and understand information on their pension schemes to ensure we make membership worthwhile.”
Dr Mary Taylor, Chief Executive of SFHA, said: “SFHA has long recognised the value of sound pension arrangements for staff working in the sector and on that basis set up and sponsored a pension scheme. However, since 1993 the role of SFHA has been limited to adding employers to the Scheme’s contracting out certificate, which was a function of its role as the principal employer in the previous scheme. SFHA retains this status but has no other role in managing the SFHA Pension Scheme. Therefore, SFHA, which continues to participate in the Scheme as an employer, welcomes the decision of The Pensions Trust and the Scheme’s Pensions Committee to adopt a new name.”
The Pensions Trust is in the process of amending the literature to reflect the new Scheme name, which will be available from the pension scheme’s website www.shaps.org.uk from 6 May 2011.
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