Major Changes to CAPITA

Sale of Capita Asset Services to Link Group

 Capita PLC sold Capita Asset Services, the division which services our nominee plans, to Link Group on Monday 6th November.  Link Group are an Australian listed company and the acquisition of CAS is their only operations in the UK.

No service disruption is anticipated and all staff who work on the share plans remain unchanged. The Link Group will communicate to the nominee holders shortly.

Online portal

 Some pensioners may notice changes in the portal.  There have been some developments to modernise it so that it is accessible on tablets for example – Link will communicate these changes at the same time as they inform their nominee holders of the change in company

New data requirements

 With effect from 3rd January 2018, Link will need to collect nationality and a national client identifier from nominee holders who wish to sell or transfer their shares – there will be guidance on what the identifier is at point of sale, but as an example a British national will need to give their National Insurance number.  This is to satisfy new regulatory reporting requirements under something called MIFID II regulations and isn’t a scam to get people to part with their data!

For your information

The CEL Nominee Service was established in August 2013 as a transfer option following the vesting of the Chevron United Kingdom Limited Share Incentive Plan (CHUKL SIP) and when the heritage company Employee Stock Ownership Plans (ESOPs) wound up in 2008.

These plans are administered by Link Market Services IRG Trustees Limited (Link) and shares are held by Link (as trustee) in an uncertificated form on your behalf but you remain the beneficial owner of the shares.

This means that the shares are treated as if they belong to you. You will continue to receive voting rights on those shares for the Chevron AGM, and you will continue to receive dividends.

You can also view your personal shareholding at www.mychevronshares.com, or contact the Plan administrators, Link Asset Services, on 0371 664 1835 or email chevron@linkgroup.co.uk.

CUKPA offers a new service for money transfers.

Make International Money Transfers Easy with OFX / UKFOREX.

Transferring your money internationally can be expensive and stressful. Chevron UK Pensioners’ Association has partnered with OFX to secure preferred low exchange rates and no originating fees on international money transfers. OFX services can be used for transfers such as managing investments and savings, purchasing a home or car, family support, and general relocation expenses.

To access these enhanced CUKPA rates, click here.

Any questions? Reach out directly to Ben Winterroth: ben.winterroth@ofx.com

Welcome to the Chevron UK Pensioners’ Association

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The Chevron UK Pensioners’ Association is an independent organisation of pensioner members of the Chevron UK Pension Plan or UK nationals entitled to a pension from another Chevron pension plan being retired employees, deferred pensioners, or surviving dependants of Chevron, Gulf, Texaco, Caltex, and other predecessor companies.

The main purpose of the association is to lobby the Company on behalf of members to resolve pension issues. Apart from that we monitor pension legislation and developments, maintain contact with similar organisations and keep members informed via this site and a bi-annual newsletter.