Pensions in the energy supply industry
Prospect and its predecessor unions have always been heavily involved with pensions issues in the electricity supply industry. From securing protections for members’ pensions on privatisation, to negotiating the best possible pension schemes in companies across the sector, to representing individuals with specific pension issues, Prospect has a track record on electricity supply industry pensions to be proud of.
Prospect’s Research department has produced reports and guides on different pensions issues relevant to members in this sector. The most relevant of these are detailed below
A network of Prospect supported trustees carry out the vital function of protecting members’ interests as trustees of their pension schemes. Prospect supports these members in their role by providing training, updates on relevant developments and an opportunity to network with fellow trustees. If you are a trustee or are interested in becoming a trustee, please contact your local rep or officer to get details about this network.
Open pension schemes in the electricity supply industry
This booklet is a survey of the open pension schemes in the electricity sector. The report:
- Provides a simple explanation of the basics of planning for retirement and the role that occupational pension schemes play.
- Gives an outline of the occupational pension schemes offered by the main companies in the electricity industry and how to make the most of them.
- Starts a discussion about the future of pension provision in the industry and the improvements that Prospect should be campaigning for.
It can also be used by members of these schemes as a general guide to pensions, as a source of information on their pension scheme and as a resource to compare the pension provision at their employer to others in the sector.
This booklet will be updated from time to time in response to developments in this area and when schemes are amended.
Open pension schemes in the electricity industry – 2020 Prospect report
Introduction to pension tax relief
This briefing explains some of the features of pension tax relief for members of pension schemes. It particularly covers how pension tax relief is restricted for higher earners because this is the area of pension tax relief that is most complicated.