The Electricity (Protected Persons) (England and Wales) Pension Regulations 1990

Amendment of relevant scheme rules

16.—(1) Subject to paragraph (2), no amendment shall be made to a relevant scheme which would result in the accrued pension rights or future pension rights of protected persons in that scheme being reduced or the contributions to that scheme to be made by protected employees being increased.

(2) Paragraph (1) shall not apply to an amendment to the Pension Scheme affecting only the interests of protected employees (including any interests contingent upon their death) if–

(a) the person entitled to amend the Pension Scheme has given notice to all those protected employees who would be affected by the amendment of a meeting to consider the amendment;

(b) that notice specifies the proposed amendment, states the effect of that amendment and gives not less than 21 days notice of the meeting specifying the time and place at which it will be held and the arrangements by which any person who is unable to attend can register a vote by proxy; and

(c) the amendment is approved at that meeting by a majority of not less than two thirds of those persons to whom notice of the meeting has been given under sub-paragraph (a) of this paragraph who vote, whether in person or by proxy, on the resolution in respect of that amendment.