Second Consultation on Ofgem's policy for funding Network Operators' Pension Scheme Established Deficits

Publication date
16th March 2016
Closing date
27th April 2016
Policy areas
Status

This paper gives our detailed proposals for changes to our funding regime under RIIO for established deficits in defined benefit pension schemes sponsored by network operators.

Our May 2015 consultation paper set out options for change to our funding regime in response to concerns that had been expressed by a wide range of interested parties, including network operators and scheme trustees. We have taken account of responses to that earlier consultation paper and have developed our proposals in discussion with the Pensions Regulator. The paper includes proposals for revised guidance on our pensions principles (the principles themselves remain unchanged), a revised financial handbook chapter for each RIIO sector and a small change to our Pensions Deficit Allocation Methodology.