15/08/2011
The NDA as sponsoring employer have requested a merger of the GPS and CNPP in order to achieve cost saving benefits in the administration of the schemes, whilst maintaining the status quo for the GPS members' benefits and protections. The purpose of this communication is to explain to the GPS scheme membership the role and position of the Trustee of the GPS regarding the NDA proposal
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During the year under review the Trustee of the GPS Pension Scheme was BNFL Group Pension Trustee Company Limited. The GPS Pension Scheme Trustee Company Limited replaced BNFL Group Pension Trustee Company Limited as the Trustee of the Scheme with effect from 1 April 2008. At the same time, the name of the Scheme changed to the GPS Pension Scheme and the Nuclear Decommissioning Authority (NDA) replaced British Nuclear Fuels plc (BNFL) as the Principal Employer.
The Trustee of the Scheme is pleased to present its report together with the financial statements for the year ended 31 March 2011. The Scheme, which is predominantly a defined benefit arrangement, includes an Additional Voluntary Contribution (AVC) Scheme, Bonus Waiver Scheme, Shift Pay Pension Plan and Defined Contribution Scheme, which are all defined contribution arrangements. The defined contribution section was introduced on 1 April 2007 and had forty nine members at 31 March 2011. As the defined contribution section is immaterial in the context of the Scheme as a whole at present, the transactions relating to this section have been combined with the defined benefit transactions in the financial statements.
Download the Scheme Report, Accounts & Summary Funding Statements
© GPS Pension Scheme 2009.