Abstract
Purpose The purpose of this paper is to present a structural design and optimization module for aircraft structures that can be used stand-alone or in a high-fidelity multidisciplinary design optimization (MDO) process. The module is capable of dealing with different design concepts and novel materials properly. The functionality of the module is also demonstrated.
Highlights
The Occupational Pension Schemes (Scheme Administration) Regulations 1996 (“the Administration Regulations”) require the Trustees to prepare an annual statement regarding governance, which should be included in the annual report
The Corporate Trustee are responsible for investment governance, this includes the Corporate Trustee reviewing the default arrangement remains in the best interests of the members
When the Scheme was originally established the Corporate Trustee took professional advice and selected a pension scheme where the With-Profits Fund was the only available investment fund option available to members. This was originally with Friends Life, who were acquired by Aviva Life & Pensions UK Limited (Aviva) in 2015, all policies, assets and liabilities of Friends Life were transferred and completed by 1 October 2017
Summary
The Occupational Pension Schemes (Scheme Administration) Regulations 1996 (“the Administration Regulations”) require the Trustees to prepare an annual statement regarding governance, which should be included in the annual report. When the Scheme was originally established the Corporate Trustee took professional advice and selected a pension scheme where the With-Profits Fund was the only available investment fund option available to members. The Corporate Trustee monitors the level of charges borne by members through the Conventional With-Profits Fund. When assessing the charges and transaction costs which are payable by members, the Corporate Trustee is required to consider the extent to which the investment options and the benefits offered by the Scheme represent good Value for Members. - The Conventional With-Profits Fund differs from a unit linked policy in that it is not totally reliant on the current value of the underlying assets This type of fund offers an underlying guarantee that provides a cushion against falling investment markets in certain circumstances. The Corporate Trustee will be reviewing the membership profile as part of the Scheme Review to ensure that this fund continues to be suitable for the membership
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