Chair’s Statement for the B Halliburton Retirement Saving Scheme (G6891N)

Scheme Year End: 1 January 2025

As Chair of the Halliburton Retirement Saving Scheme, I am pleased to present this annual governance statement, which outlines how the scheme has complied with the governance standards set out in the Occupational Pension Schemes (Scheme Administration) Regulations 1996 (as amended).

1. Default Investment Arrangement

   The scheme’s default investment arrangement is provided by Aviva, No changes were made to the default arrangement during the scheme year.

2. Charges and Transaction Costs

   Members were subject to the following charges during the scheme year:
   Annual service charge: £44.00 per member
   Investment returns (credited between 01/01/2024 and 01/01/2025):
   Guaranteed interest: 1.00%
   Bonus interest: 3.00%
   Additional interest (post-2015 contributions): 2.00% The scheme complies with the 0.75% charge cap applicable to default arrangements used for auto-enrolment.

3. Value for Members Assessment

   The trustees have assessed the scheme as providing good value for members, based on:

   • Competitive interest rates credited to member accounts
   • Transparent and fixed service charges
   • Continued access to a well-diversified default investment strategy
   • Administration and member support provided by Aviva

   During the scheme year:

   • Total value of member accounts: £11,336.74
   • Total net interest credited: £396.94
   • Total contributions paid in: £0.00

   These figures reflect a positive return for members despite the scheme being frozen, and demonstrate value through stable growth and low-cost administration.

4. Trustee Oversight and Governance

   The scheme is overseen by Trustees Karen Halliburton (who is also a member of the scheme) and Stephen Halliburton. While the scheme is currently frozen (no new contributions are being made), governance responsibilities continue to be fulfilled, including:

   • Monitoring of investment performance and charges
   • Ensuring compliance with regulatory requirements
   • Responding to member queries and maintaining scheme records

5. Member Communications

   There are five members in the scheme. During the scheme year, benefit statements were issued to two members. The remaining three members could not be contacted due to missing or outdated contact details. Efforts will continue to locate and re-establish contact with these members to ensure they are informed of their benefits.

Completed by: Karen Halliburton (Chair Trustee)
Date: June 2025