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Scheme Sectionalisation

This section of the website contains everything you need to know about the sectionalisation of the Scheme that took place on 1 January 2017.

Overview

On 1 January, 2017, three separate and independent sections were created in the National Grid UK Pension Scheme. This move was made to protect your benefits whilst facilitating the sale of a majority stake in the Gas Distribution business.

As confirmed in the letters that you’ve received, your pension benefits remain just as safe, secure and well supported. There are no changes to your accrued benefits as a result of the sectionalisation of the Scheme. This includes no change to spouse benefits, death benefits or the way your pension increases.

If you are already in receipt of a pension, it will continue to be paid in the same way and on the same date that it always has been. If you are not yet receiving your pension, all the same terms apply and there are no changes to the age at which you can start collecting your pension.

The Trustee Board remains responsible for the Scheme as a whole and your pension continues to be administered by the same team, UK Pensions Operations.

Key milestones

  • June 2016: your Trustee Board wrote to you to confirm the agreement it had reached with National Grid to create three separate and independent sections within the Scheme. You can access a copy of the letter that you received on the archive page
  • November 2016: your Trustee Board wrote to you to confirm which section your pension benefits had been allocated to. You can find a copy of the letter and booklet that you received on the dedicated Section A, B and C pages (links below). Videos explaining how your pension is funded and how members were allocated across the sections can be found on the archive page
  • December 2016: all members with benefits allocated to Section C received a letter from the Trustee Board confirming the buyer of a majority stake in the Gas Distribution business. A copy of this letter is available on the Section C page (link below)
  • April 2017: your Trustee Board wrote to you to confirm the Scheme was fully restructured into the three sections on 1 January 2017. This letter was accompanied by a valuation update booklet. Copies of these communications are available on the section specific pages.

Section information

Please use the links below to access information on your section.

 

 

Archive information

To view the communications that were sent out in 2016 , please click here.

 

 

 

 

 

 

 




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