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Pensions

Changes to NDA estate members’ pensions

Members of final salary pension schemes in the Nuclear Decommissioning Authority estate were balloted during May 2017 on proposals to reform those schemes. Prospect members voted to accept the changes.

Members can download our briefing about the proposals and the ballot.

The schemes affected are:

  • Combined Nuclear Pension Plan (final salary sections)
  • Magnox Electric Group of the Electricity Supply Pension Scheme.

The proposals contain provisions that would require pension protections in the electricity and energy acts to be amended.

The amendments would only affect the employers and the pension schemes covered by the NDA’s consultation. The employers are:

  • Sellafield
  • Magnox
  • Direct Rail Services
  • Dounreay Site Restoration Ltd
  • Low Level Waste Repository
  • International Nuclear Services.

The legislation implementing the proposals would be limited to these employers, these schemes and the specified changes being balloted on.

After that, the current pension protections take effect again.

News updates

pension-blog
Babcock International has written to members of the Babcock International Group Pension Scheme to start consultation on plans to double the member contribution rate to 12%.