³ÉÈËÓ°Òô

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’. The scheme rules are not publicly available.

For further 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.

While there was a common scheme-wide benefit structure at the time of privatisation, since then each Group has been able to provide different benefits for its members. The ESPS rules are structured as a core set of clauses