PARLIAMENTARY WRITTEN QUESTION
National Grid Company: Pension Funds (10 January 2017)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment the Government has made of the potential effect on people affected by proposed changes to the defined benefits sections of the Combined Nuclear Pensions Plan and a section of the Electricity Supply Pension Scheme; and if he will make a statement.

Asked by:
Ian Murray (Labour)

Government has undertaken an impact assessment and equalities analysis on public service pensions policy to reform final salary, defined benefit schemes in favour of Career Averaged Revalued Earnings schemes. These can be viewed at www.parliament.uk/documents/impact-assessments/IA12-023.pdf and www.parliament.uk/documents/impact-assessments/IA12-024.pdf.

This work has been taken into account in assessing the impact of reforming two final salary schemes within the Nuclear Decommissioning Authority (NDA) estate. These schemes are now subject to consultation with the workforce, conducted by the NDA; the outcome of the consultation will help to inform further assessments before any decisions are taken.

Answered by:
Jesse Norman (Conservative)
18 January 2017