Pensioners' Q&A
1. How does this offer affect my pension and payments?
Payment of your pension will not be affected in the event of an acquisition. It will continue to be paid as it is now from East Kilbride. The contact details for Group Pay Centre and Hewitt’s, pension administration, remain the same.
2. Will the sale affect the security of the pension schemes (BECG and BEGG) and the deficit repair arrangements agreed by pension trustees and British Energy?
Should the offer be successful, EDF has undertaken to accelerate the 2007 valuation deficit recovery plans with the intention to fully repair the deficit in BECG by 2010, and to fund 80% of the 2007 valuation for BEGG, within the first 3 years.
If you are a ‘Protected Person’ the same protections would apply after the acquisition as before.
3. Have the pension trustees been consulted?
EDF has held amicable and constructive discussions and reached agreement with the Trustees of both BE pension schemes who have been independently advised in this process.
4. How does the pension regulator view the possible acquisition?
In the light of the agreement reached with trustees of both schemes we do not believe that the pension’s regulator should raise any issues regarding the acquisition.
5. Will the pension scheme remain open under the new arrangements?
There are no plans to close BECG or BEGG to new members or to change the pension benefits that are currently offered to new employees.
