The Competitions and Markets Authority (CMA) carried out an investigation into the investment consultancy market last year. One of the CMA recommendations was that final salary pension schemes (FSPS) publish their Statements of Investment Principles (SIP). This recommendation is now required of all such schemes by the Pensions Regulator with effect from 1 October 2020. This set of SIP is for the Society’s FSPS which has been closed to new members and future accrual for many years. Any question on the SIP should be addressed to David Cullen, Registrar in his role as the Chairman to the Board of Trustees to the scheme at