Information about the Plan

The Trustee wants to help members of the Honeywell Retirement Plan (the ‘Plan’) understand their investment choices and how their decisions may affect their savings at retirement. Pension law also says that the Trustee must share certain information with their members each year. This statement has been prepared by the Trustee of the Honeywell Retirement Plan to demonstrate how the Plan has complied with the governance standards introduced under the Occupational Pension Schemes (Charges and Governance) Regulations 2015 in relation to:

Providing a default investment arrangement for members (the ‘default arrangement’).
Processing financial transactions promptly and accurately.
Details and impact of charges and transaction costs borne by members.
Assessment of the value for members.
Meeting the requirements for trustees' knowledge and understanding.

This statement covers the Plan's Defined Contribution ('DC') benefits including Additional Voluntary Contributions (AVCs) with Utmost (formerly Equitable Life) and Prudential. The Trustee believes that it has taken the necessary steps to ensure compliance with the governance standards.