Welcome to your Parker Hannifin Pension & Death Benefit Plan
A new home for your pension.
We are pleased to introduce you to your Parker Hannifin Pension & Death Benefit Plan, with Fidelity on behalf of the Trustee, to ensure that you are given the best opportunity and tools needed to prepare for your retirement. Use this site to find out more, explore how your pension works and how you can manage your pension.
Important information - please keep in mind that the value of investments can fall as well as rise and you may get back less than you save. This information is not a personal recommendation for any particular investment or action. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser. The minimum age you can normally access your pension savings is currently 55, and is due to rise to 57 on 6 April 2028, unless you have a lower protected pension age.
How does the Flexible Income Option work?
The default lifestyle strategy is designed to be suitable no matter how you choose to take your income at retirement.
Until you are 15 years from your selected retirement age, your Pension Account is 100% invested in the Early Growth Fund. Once you are 15 years from your selected retirement age, your investments are switched automatically into more defensive funds that provide a little more diversification to your investments, and could help to reduce the risk of short-term falls in the value of the pension savings you have built up.
The following table details the charges for each fund, expressed as the Total Expense Ratio (TER), which is a measure of the total cost of a fund to you as an investor.
|Flexible Income Option funds||Total Expense Ratio (TER) per annum|
|Early Growth Fund||0.41%|
|Approaching Retirement Fund||0.51%|
|At Retirement Fund||0.51%|
More information on the default investment strategy, including the underlying funds that make up each of the four main funds, is available in the Investment Choices Guide.
Who can I contact for queries?
If you have any general questions about the changes, please contact Janet Ward, using the following contact details:
Telephone: 0191 402 9046
Post: Parker Hannifin Manufacturing Ltd, Pensions Department, Dukesway, Team Valley Trading Estate, Gateshead, Tyne & Wear, NE11 0PZ
Alternatively, please talk to your Supervisor or your Division HR Manager.
Once your Pension Account has been transferred to Fidelity, you can contact Fidelity using the details below with any queries you may have:
Telephone: 0800 3 68 68 68 (Monday to Friday, 8am – 6pm)