The Electricity Supply Pension Scheme (Eligible Persons) Regulations 1990

Explanatory Note

(This note is not part of the Regulations)

These Regulations provide:

(i) for certain present and former Chairmen and other members of the Electricity Council and the Electricity Boards in England and Wales; and

(ii) for certain officers and former officers of the Electricity Consumers' Council,

who were ineligible for membership of the Electricity Supply Pension Scheme (the Pension Scheme) (which is an existing scheme providing pension benefits for most employees and members of the electricity supply industry in England and Wales) under section 54 of the Electricity Act 1947, as amended, to become eligible for membership.

Regulation 1 provides for the citation and commencement of the Regulations and regulation 2 contains definitions. Regulation 3 defines the persons who are within paragraph (i) above. Regulation 4(1) introduces Part I of the Schedule, which contains the amendments to the Pension Scheme necessary to provide how these persons will be treated as members of the Scheme. The effect of the amendments is that their existing pension benefits will be at least maintained. Regulation 4(2) continues the effect of a provision of old schemes (as defined) but only until the transfer date. Regulation 5 then provides for the persons mentioned in paragraph (i) above to become members of the Pension Scheme.

Regulations 6 to 10 provide for the winding up of the old schemes of such persons created by determinations under section 3(6) of the 1947 Act. These regulations provide for the assets and outstanding liabilities of these schemes to pass to the Trustees of the Pension Scheme, and for an actuarial valuation of all assets and liabilities of the schemes to be wound up and of certain liabilities to be transferred from other schemes. Each Electricity Board which presently funds these liabilities out of revenue is, and the trustees of other electricity supply industry schemes holding assets in respect of those persons are, required to make a payment to the Trustees of the Pension Scheme in respect of any deficit shown by the valuation. Certain requirements are specified in the regulations for the effective registration of the title to the property being transferred.

Regulation 11 provides that any officer or former officer of the Electricity Consumers' Council who has been treated as a member of the Pension Scheme shall be deemed to have been a member of the Scheme from the date of commencement of such treatment, notwithstanding the fact that section 54(1) of the 1947 Act did not entitle such persons to be members of the Scheme. This provision is to apply whether or not the officer served with the Electricity Consumers' Council before it was put on to a statutory footing under section 21 of and Schedule 2 to the Energy Act 1983. Part II of the Schedule contains an amendment to the Pension Scheme to add the Electricity Consumers' Council to the list of bodies which may participate in the Scheme.