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Chairman's introduction

Photograph of the chairman

Welcome to our 2021 Newsletter which includes information and articles that we hope you find useful and interesting. We are always keen to hear your feedback so please do let us know what you enjoy and any other items that you would like to see covered in future editions.

When we issued our last Newsletter in June 2020, I said that the current lockdown was expected to present its challenges, but little did we know how long the situation would continue for. Lockdown has had an impact on all of us including the Trustees, Equiniti, our Administrators and all our advisers as we have had to adapt to the various restrictions and the challenges of working from home. However, I am pleased to say that despite this, we have managed to steer a steady course and Equiniti were able to maintain a high level of service throughout the year.

The Trustees' Investment Committee has continued to monitor and where necessary, adjust the Plan’s investments over the year. Despite an uncertain period in March 2020 due to volatility in the global financial markets the Plan’s assets have been resilient, retaining their value over the longer term and improving the funding position of the plan. The Trustees monitor the Plan’s investments regularly and will continue to adapt to the financial conditions as they evolve.

Apart from adapting to new ways of working the Trustee has also continued to focus on its communication strategy with regular updates on the member website and launched an exercise in November last year to encourage members to update their Expression of Wish Forms. It is important that these Forms are kept up to date and we have had a good response from members and thank all of you who have returned a Form.

We have seen an increase in the number of members using the member website over the last year and have added a new ‘Have your say’ button inviting you to comment on how you find the website. We will be updating the look and feel of the website over the next couple of months and would welcome your views on how useful it is for you and any changes you would like to see.

I wish you and your families well for the rest of the year.

Paul Early
Chairman of the Trustee
Hewlett-Packard Limited Retirement Benefits Plan

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