Royal Pharmaceutical
Society of Great Britain
Staff Pension Scheme

Statement on the Russian invasion of Ukraine

In late February 2022, Russia invaded Ukraine and the cost of the war will be first and foremost a human one as lives and livelihoods are lost. Markets initially responded with equity markets falling (in particular European and Emerging markets) and investors rotating into safe haven assets, such as bonds and currencies. Markets have largely since recovered and the Scheme's funding position has held up well as at the time of writing (23 March 2022).

The Trustee Directors have considered the Scheme’s exposure to Russia and the Scheme’s investment managers have confirmed that the Scheme has a small investment in Russian bonds (less than 0.1% of total Scheme assets as at the end of 28 February 2022) through its corporate bonds mandate and no investments in Russian equities. The Trustee is continuing to work with its advisers to monitor the exposure and wider impact on the Scheme, given the ongoing tensions.

Regulatory and useful information about the Scheme

The Trustee of the Royal Pharmaceutical Society of Great Britain Staff Pension Scheme (the Scheme) welcomes you to this site providing information and documents that you may find useful. The site will be updated from time to time as new information becomes available. The documents below may be downloaded. If you have any questions concerning these documents or have other questions about the Scheme or your membership please see the contact details below.