BCF is run by 5 Trustees who determine the scheme’s strategic direction and objectives. The Scheme administrator is responsible for the day to day administration of the scheme.
The BCF scheme is a Defined Contribution (DC) scheme. This type of scheme means that the amount of retirement income a member gets is dependent on three main factors:
- How much has been contributed to the pot over time
- Returns on fund investments
- Fund charges over time
Securing the best possible outcomes for our members is our core principle and all aspects of the scheme are developed and evaluated with this in mind.
The Corporate Governance structure at BCF is the framework used to help the Trustees to set goals, make decisions and monitor performance of the scheme in line with the requirements of our members and The Pension Regulator’s Code of Practice for DC Schemes.
The Scheme has applied to the Pensions Regulator to be recognised as an Authorised Master Trust and is currently awaiting their decision.
More about Corporate Governance at BCF
What makes a quality DC Scheme?