About the Scheme

National Grid UK Pension Scheme (NGUKPS) is a registered pension scheme under Chapter 2 of Part 4 of the Finance Act 2004.

Dating back to 1948, when the original sponsoring employer was British Gas, the Scheme has been through many changes over the years which mirror the changes to the UK’s gas industry and its various sponsoring employers – from the early days of the regional gas boards to the present day, National Grid plc. The name of the Scheme has changed many times over the years to reflect the sponsoring employer. A timeline of the Scheme’s history is available here.

There are currently c.48,000 active, deferred, and pensioner and dependant members. The Scheme closed to new joiners in April 2002 and is comprised of two Sections:

  • Section A, which is sponsored by National Grid’s commercial businesses; and
  • Section B, which is sponsored by National Gas Transmission.

The Sections are ring-fenced from each other with completely separate assets and liabilities. Each section has its own members, assets, financial support, and security arrangements. The Scheme is overseen as a whole by the Trustee Board who believe in providing a positive experience for their members and for everyone dealing with the Scheme.

The Scheme is administered by Barnett Waddingham. If you have any queries about your Scheme pension or benefits, you can contact the team at: NGUKGasPension@Barnett-Waddingham.co.uk

Meet the team

Barnett Waddingham is the Scheme administrator.

The pension team administers the Scheme for all members on behalf of the Trustees, including the finance and payroll responsibilities.

Please contact the team with any queries about your Scheme pension or benefits: NGUKGasPension@Barnett-Waddingham.co.uk

Meet the Trustees

The Trustee Board is responsible for making sure the Scheme is secure, correctly administered and well-managed in order to pay all its members’ benefits in full and on time. To do this, the Trustees must maintain a strong governance framework and a robust investment strategy.

The Scheme is managed by 12 Trustees made up of:

  • Six Company Appointed Trustees, who are appointed by the sponsoring employers of each of the two sections; and
  • Six Member Elected Trustees, three from both of the Scheme’s sections – A, and B, who are elected from, and by, the members.

All Trustees carry the same powers and responsibilities regardless of whether they’ve been appointed or elected.