The Scheme has a complicated history which mirrors the changes to the UK’s gas industry – from the early days of the regional Gas Boards to the current privatised and diverse business.
On 1 January 2017 a majority stake in the Gas Distribution part of National Grid's business was sold to Cadent Gas Limited. As a result, the Scheme was 'sectionalised' to provide a clear allocation of pension responsibilities between the different sponsoring employers; and three separate and independent sections (A, B and C) were created.
As confirmed at the time to members, there were no changes to accrued benefits as a result of sectionalisation and no change to spouse benefits, death benefits or the way pensions in payment are increased annually. For active and deferred members all the same terms apply.
The Trustee Board remains responsible for the Scheme as a whole and your pension continues to be administered by UK Pensions Operations.
Today the Scheme has over 98,000 members split across three sections.