Port's pension scheme wins national award

The Port of Dover has won an award for best pension scheme (under £1 billion) at the prestigious Portfolio Institutional Awards. Running since 2012, the awards recognise excellence and forward thinking in how institutions run their pension schemes.

The Port's scheme is managed by a dedicated in-house team who work alongside a board of trustees, a mix of former and current staff, under the chairmanship of Bob Holmes, who is himself a former board member of Dover Harbour Board.

Mr Holmes says: "We're very proud to have received the Portfolio Institutional award for the Best Pension Scheme with assets under £1 billion. Over the last five years we've overhauled our investment and liability management strategy and have implemented some solutions that are not often considered by schemes of our size. The result has been an improved funding position achieved with less risk despite challenging market conditions.

"We've also reacted quickly to change elements within the strategy when necessary. This award is recognition of these achievements and I would like to thank our investment advisors, P-Solve, for developing the strategy with us, our sponsoring employer, the Dover Harbour Board, for its support in implementing it, but most of all my fellow Trustees who've worked hard to ensure they have understood all of the changes we've made, while ensuring that the interests of the members of the Scheme remain our prime concern."

Tim Waggott, Chief Executive, Port of Dover, says: "With around half of our employees living in Dover, our commitment to our team and the benefits they receive both during and after their employment with us, represents another significant investment in Dover and its people. Recognition of that commitment and the professional way the Pension Scheme is managed is further testament to our vision of being the best of everything we do."