UK pensions
Welcome to our UK pensions guide, your new, go-to resource for understanding more about the Croda Pension Scheme and the benefits it provides its members. Whether you're planning for retirement, managing your pension, or exploring options regarding benefits, this page offers valuable insights and practical advice to help you make informed decisions for a secure financial future, as well as providing the relevant contact details for our pensions team.
For any further information , please contact the pensions team using the details below.
Contact details:
Phone: 01405 860551
Email: pensions@croda.com
Pensioner Trustee Director Election
The election process for selecting two Member Nominated Trustee Directors from our pensioner population is now complete. We were delighted that seven such strong candidates put themselves forward.Kevin Nutbrown has been re-appointed to the role he has already been carrying out for a number of years, and Gillian Sharpe has been elected to join him.
Gillian already acts as a Trustee for the pension scheme of another of her former employers, so will bring welcome additional insight to the role.
Both elected Trustee Directors will formally start their four year terms at the quarterly Trustee Meeting on Tuesday 3 June.”
UK Pension Trustee
Croda Pension Scheme, Climate Report, March 2025
Croda Pension Scheme, Implementation Statement, March 2025
Croda UK Pension Scheme Statement of Investment Principles
Pensions
Please find all the relevant information about pensions in the UK below.
Pension Trustees
Croda appointed Trustee Director and Chair: Graham Myers
Other members: Dave Cherry, John Hurst, Rob Walthall, Gill Sharpe, Rachel Best and Kevin Nutbrown
These individuals act as Trustee Directors who together form the Board of the Pension Scheme Trustee, Croda Penson Trustees Limited.Death benefits
Nominated beneficiary form
Please print, complete and physically sign the form. Forms can be sent via post to the Pensions Department, Cowick Hall, Snaith, Goole, DN14 9AA or we can accept a scanned copy to pensions@croda.com.
Croda nomination form Feb 2020
Retirement
Payment of pension
Pension payments will commence on the second to last banking day of the month of your retirement. The pension then continues to be paid on the second to last banking day of each month. Your pension will be paid in arrears and it will be subject to income tax under the PAYE System. The pension is payable for the remainder of your life.
Increase to the minimum age to draw your pension
From 6 April 2028, the minimum age to draw your pensions is increasing from 55 to 57.
Late retirement
If you choose late retirement under the Croda Pension Scheme, be aware of the "forfeiture" rule. This rule means that if you delay drawing your pension beyond six years after reaching your Normal Retirement Age (NRA), you begin to lose entitlement to future pension instalments for the period until you claim. This forfeiture is a permanent loss, not a temporary reduction that will be refunded later, so it's crucial to start your pension on time to avoid losing out.
Pension scams
Cold calls from advisers to pension scheme members are illegal, so please be wary of anyone contacting you out of the blue. If you receive an approach that you are suspicious about, please let the Croda pensions team know.
As the use of Artificial Intelligence (AI) increases, one possible area of concern is where members are contacted by a person claiming to be a member of the pensions team. Please note that we very rarely need to contact our members, but sometimes this is necessary. For example, if you choose to transfer out of the Scheme (after taking advice from a specialist pension transfer adviser), one of the team will contact you before the money is transferred to ensure that every aspect of the process meets the requirements of the Pensions Regulator’s scams pledge, which we signed up to in 2023.
If you’re ever unsure about who you’re speaking to, just end the call and ring 01405 860551 to speak to a member of the pensions team. We will be able to confirm if the call was from us.
Please note: we will never call you requesting your bank details, password or security codes.
Pension scams
