How the Plan operates

The Plan is divided into:

  • A defined benefit structure offering no less favourable terms than the benefit package in the CPS. This structure is offered to SLC employees at the date of transfer of the SLC to the private sector.
  • A defined benefit structure for members who were previously in the defined benefits structure of the GPS Pension Scheme.
  • A defined benefit structure for members who were previously in the Nirex Pension Scheme.
  • A defined contribution structure offered to new employees. This structure is offered to employees who joined their employer after the defined benefit structures were closed to new entrants and who do not have Energy Act protection.