The Electricity Supply Pension Scheme
Produced in partnership with Gary Delderfield of Eversheds Sutherland

The following Pensions practice note produced in partnership with Gary Delderfield of Eversheds Sutherland provides comprehensive and up to date legal information covering:

  • The Electricity Supply Pension Scheme
  • Key parties
  • Eligibility and membership
  • Contributions
  • Member contributions
  • Employer contributions
  • Standard benefits
  • Ill-health benefits
  • Benefits on redundancy or reorganisation
  • Death benefits
  • More...

The Electricity Supply Pension Scheme

The Electricity Supply Pension Scheme (‘ESPS’) is a trust-based scheme established by the Electricity Council by a resolution dated 20 January 1983 as an industry-wide pension scheme for employees in the nationalised electricity industry. It remained a single scheme on privatisation on 31 March 1990 but was then divided into various sections or ‘Groups’.

For more information on the statutory protections for ESPS members following privatisation, see Practice Note: The Electricity Supply Pension Scheme—Protected Persons.

Each principal electricity company participating in the ESPS forms its own Group. There are currently 23 Groups. Some Groups have only one participating employer, other Groups have multiple participating employers.

Each Group is actuarially independent and the assets and liabilities of each Group are assessed separately.

Each Group also has different benefits for its members. The ESPS rules are structured as a core set of clauses and rules governing the ESPS-wide position, and appended to it are specific rules for each Group in the form of Schedules.

This Practice Note covers the main benefits and provisions of the ESPS at a scheme-wide level. The particular Group schedule will need to be considered to establish the benefits provided by each Group. Most Groups have improved benefits substantially since privatisation in 1990.

Key parties

  1. Principal Employer—there is no ESPS-wide Principal Employer, as each Principal Employer has that role in relation to a Group.

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