29/06/2011
Proposal from the Nuclear Decommissioning Authority (NDA) to merger the GPS Pension Scheme (GPS) with the Combined Pension Scheme (CNPP)
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This statement of funding principles sets out the policies of the Trustees of the BNFL Group Pension Scheme ("the Trustees") for securing that the statutory funding objective is met.
The statement has been prepared by the Trustees to satisfy the requirements of section 223 of the Pensions Act 2004, after obtaining the advice of Stephen Jacquest, the actuary to the scheme. It will be taken into account in the actuarial valuation as at the effective date of 31
March 2007, unless it is revised before the completion of that valuation.
The Scheme has been sectionalised with effect from 31 March 2007. There are seven sections and each is separately funded, with no cross-subsidy between sections.
This statement of funding principles has been agreed by the lead employers of each of the seven sections on behalf of the participating employers in each section.
© GPS Pension Scheme 2009.