The Staples Pension Fund Annual Report for 2017 has been published, in which the Board accounts for the policy it has implemented and provides details of the financial results. 

In 2017 the pension fund’s financial position improved to such an extent that the recovery plan is no longer needed. Since June 2017, the policy funding ratio has been higher than the legally-required funding ratio. Prior to the, from mid-2016, the pension fund has a reserve shortfall. At the end of December 2017 the policy funding ratio was sufficiently high (122.0%, compared to 111.9% at the end of 2016) for the pension fund to exit its recovery.

An abridged version of the Annual report will also be published shortly.