Announcements

CPS Members’ and DC New Joiners Benefit Structures - reduction in Annual Management Charges from 1 April 2017

For members in the Defined Contribution (DC) New Joiners Benefit Structure and members with DC investment accounts (SPPP and/or AVCs) in the CPS Members’ Benefit Structure

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Result of the ballot to select a Member Nominated Director

Thank you for your participation in the ballot to select a Member Nominated Director (MND) to the Trustee Board of the Combined Nuclear Pension Plan (CNPP).

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Changes to Defined Contribution Investments in the Plan

Defined contribution (DC) investments are changing. . .

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Your Trustee Board is changing………

The Trustee Board of the Combined Nuclear Pension Plan (CNPP) is changing on 1 April 2016.  The Trustee Board is the body responsible for the management of the CNPP.  New legislation has meant that changes are required to the structure of the Trustee Board and over the last year the Trustee and the NDA have worked together to review this.  A new structure has been agreed and both the Trustee and the NDA consider this will strengthen the running of the CNPP.

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End of contracting out – affecting the Defined Benefit Structure of the Plan

On 6 April 2016 the state pension changed as part of Government state pension reforms. This change affects all pension schemes that have “contracted out” of the current State Second Pension (S2P). These are statutory changes legislated for in the Pensions Act 2014.

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Withdrawal of Uranium Asset Management Limited (UAM) from the GPS WEC/UAM Section of the CNPP

With effect from 6 April 2016 Westinghouse Electric UK Holding Limited (WEC) will take over as sponsoring employer for the current and former employees of Uranium Asset Management (UAM) in the CNPP. UAM will then withdraw as a participating employer in the GPS WEC/UAM Section of the CNPP.

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Your Trustee Board is changing………

The Trustee Board of the Combined Nuclear Pension Plan (CNPP) is changing on 1 April 2016.  The Trustee Board is the body responsible for the management of the CNPP.  New legislation has meant that changes are required to the structure of the Trustee Board and over the last year the Trustee and the NDA have worked together to review this.  A new structure has been agreed and both the Trustee and the NDA consider this will strengthen the running of the CNPP. 

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