IDENTITY STATEMENT
Reference code(s): GB 0074 LMA/4485
Held at: London Metropolitan Archives
Title: NORTHERN ELECTRIC GROUP OF THE ELECTRICITY SUPPLY PENSION SCHEME
Date(s): 1956 - 2005 May
Level of description: Collection
Extent: 0.01 linear metres (3 documents)
Name of creator(s): Electricity Supply Pension Scheme
CONTEXT
Administrative/Biographical history:
In 1990, when privatisation of the electricity industry occurred, most staff were either in, or retired from, a "final salary" scheme called the Electricity Supply Pension Scheme (ESPS) to which they paid 6% of their working salary whilst the employing board paid an amount equal to 12%. Although membership is not now compulsory, it was a condition of employment for almost all pre-1990 ESPS members and the pension arrangement was recognised to be part of the employment package.
Strenuous efforts were made to assure staff that their rights and conditions would be protected in the new organisation. Indeed, the Government issued a Statutory Instrument (S.I. 346 1990) for this purpose. A further S.I. (No.318 1990) set out the amendments which the Government required to be made to the ESPS pension scheme. This latter S.I. paved the way for the original single ESPS scheme to be split into 24 Group schemes, each of which is closely identified with one employer.
CONTENT
Scope and content/abstract:
The collection contains Pension Scheme Explanatory Booklets; 'Central Electricity Authority and Area Boards (Manual Workers) Superannuation Scheme Explanatory Booklet' (1956) [facsimile copy]; 'Electricity Supply (Staff) Superannuation Scheme Explanatory Booklet' (1956) [facsimile copy] and 'Electricity Supply Pension Scheme Northern Electric Group Members Guide (2005).
ACCESS AND USE
Language/scripts of material: English
System of arrangement:
This collection is arranged into a series of Pension Scheme Explanatory Booklets (LMA/4485/01).
Conditions governing access:
These records are available for public inspection, although records containing personal information are subject to access restrictions under the UK Data Protection Act, 1998.
Conditions governing reproduction:
Copyright rests with the depositor.
Finding aids:
Please see online catalogues at: http://search.lma.gov.uk/opac_lma/index.htm
ARCHIVAL INFORMATION
Archival history:
Immediate source of acquisition:
Deposited by the Pensions Archive Trust in 2008.
ALLIED MATERIALS
Related material:
This collection forms part of the Pensions Archive.
DESCRIPTION NOTES
Date(s) of descriptions: July to October 2009