Letter: New benefits for employees

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The Independent Online
PLEASE allow me to correct some points in Aled Pugh's letter about the Nuclear Electric Pension Fund (30 January). Additional benefits for members, introduced after the valuation which he omitted to mention, include improvements in spouses' pensions, enhanced arrangements for children's allowances and increases in death-in-service payments. The 'thousands of words' in the in- house journal to which he refers included letters raising concerns by members of the scheme, to which responses were made. Any amendment to the pension scheme rules is subject to a 'no detriment' clause. This means that the rules can be amended only to the benefit of members and not to their detriment. In addition, it is the company and the company alone that is responsible for the adequacy of the fund.

Nuclear Electric cares about people and the environment. The company's response to the pension fund valuation was to balance in a responsible way the interests of current employees, pensioners and the company itself, the success of which underwrites the scheme.

Derek Smart

Personnel Director

Nuclear Electric