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News updates

Pensions are constantly evolving and there may be changes that affect your membership, so it’s important to keep up to date with what’s happening.

  • 23 January 2024

    Kick-start your financial fitness, this new year

    It can be easy to overspend in the festive season, but January is a great time to reassess your finances and savings.


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  • 30 November 2023

    Festive season Helpline opening hours

    Take note of our Helpline opening hours over the festive season, should you wish to contact us during this time.


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  • 30 November 2023

    Autumn Statement 2023

    The Autumn Budget included several possible changes that might impact pension saving in the future.


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  • 14 November 2023

    Tis the season to be cautious - stay safe from scams over the festive season

    With just over a month to go till Christmas, this may be one of the busiest times of the year for shoppers’ bank accounts.


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  • 08 November 2023

    If you could do one thing to boost your financial wellbeing, what would it be?

    One step, one simple action - sometimes that’s all it takes to kick start a journey to a more financially-aware and happier you.


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  • 10 October 2023

    Write or change your will for free in October 2023

    If you’re 55 or over you may be able to have a will drafted for you, or change your existing will if you already have one, free of charge.


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  • 21 September 2023

    Pay Your Pension Some Attention

    The Pay Your Pension Some Attention campaign is back for a second time, to help you get to grips with your pension.


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  • 06 September 2023

    Understanding pensions better, with Pension Awareness 2023

    The national Pension Awareness campaign is marking its 10th birthday, with a series of free, online events from 11-15 September 2023.


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  • 09 August 2023

    Electricity Supply Pension Scheme AGM 2023

    The ESPS holds an Annual General Meeting for members which relates to the Scheme.


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  • 09 August 2023

    Take a midlife MOT

    It’s never too late to take control of your finances, and your future.


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  • 26 July 2023

    Understanding the State Pension

    As the State Pension marks its 75th anniversary this month, we take the opportunity to provide an overview of the way this vital state benefit works.


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  • 30 June 2023

    Charitable support for nuclear industry employees

    The Nuclear Industry Benevolent Fund (TNIBF) is a registered charity for those who work, or have worked, in the UK nuclear industry, providing support, signposting and financial assistance.


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  • 12 June 2023

    Capita cyber incident

    You may have seen that recently Capita was victim of a cyber attack, however it has been confirmed that the Magnox Group was not affected.


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  • 04 May 2023

    Look after your successors – make your nominations

    King Charles III will be crowned successor to the throne on Saturday 6 May, but have you thought about what your own ‘successors’ might get in the event of your death?


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  • 20 March 2023

    How the Spring Budget affects you and your pension

    The Spring Budget included several changes that could affect the tax some members pay on their pension savings.


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  • 24 January 2023

    Is your retirement income on track?

    Costs for a basic standard of living in retirement have increased over the last year by almost 20% due to high inflation.


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  • 06 December 2022

    Pensions and the Autumn Budget 2022

    An overview of the announcements made in the Autumn Budget and what they mean for pension savers.


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  • 06 December 2022

    Season's greetings and Helpline opening times

    Changes to Helpline opening times over the festive period.


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  • 29 November 2022

    Transfer of Prudential AVCs to Aegon – Rectification Update

    Following on from our earlier communication, we can confirm that the rectification has now been completed.


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  • 15 November 2022

    Transfer of Prudential AVCs to Aegon – Update

    Following the recent transfer of AVCs from Prudential to Aegon, it has come to light that an error occurred which resulted in some funds not being invested according to the fund mapping previously communicated.


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  • 14 November 2022

    Beware of pension scams over the festive period

    The hustle and bustle of Christmas and the busy festive period can provide perfect opportunity for fraudsters to do what they do best – part savers with their money.


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  • 24 October 2022

    Pay your pension some attention events to take place in October

    Pension Awareness Week events were originally scheduled to run in September but were postponed following the sad news of the passing of Her Majesty The Queen and the period of mourning that followed.


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  • 24 October 2022

    Reunite with an old or lost pension this October

    National Pension Tracing Day takes place on 30 October and aims to encourage pension savers to track down old or lost pension pots.


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  • 24 October 2022

    It's free wills month

    Free will month is taking place this October for a second time this year. It allows those aged 55 and over to have a will drafted or updated free of charge.


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  • 10 October 2022

    An update on transfer values

    Some members have noticed that transfer values have reduced significantly in recent months.


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  • 07 October 2022

    Recent gilt market volatility

    There has recently been a lot of media coverage about the financial stresses placed on pension schemes and in particular those who use liability-driven investment (LDI) as part of their investment strategy.


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  • 22 September 2022

    Impact of inflation and the security of your benefits

    It is important to note that your Scheme benefits have some degree of protection against inflation.


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  • 08 September 2022

    Pay your pension some attention!

    Organisations from across the pensions industry are joining forces this autumn/winter to help you understand your pension and get your retirement plans on target.


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  • 11 August 2022

    Annual Benefit Statements update

    The 2022 annual benefit statements for the Scheme were posted to active members from the start of August.


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  • 02 August 2022

    ESPS Scheme Annual Meeting

    The 2022 Scheme AGM will be held on Tuesday 22 November 2022, starting at 1pm.


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  • 28 July 2022

    Complete your Nominations online

    With the recent launch of PenNet, it’s now easier than ever to tell us who you’d like to receive any benefits payable in the event of your death as you can make and update your Nominations online.


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  • 22 June 2022

    Register for and log into your online pension account today

    You can now log into your personal pension account to manage your pension effectively.


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  • 21 June 2022

    Share your views with DWP

    DWP seeks to explore what support members of pension schemes need to help them make informed decisions about how to use their savings.


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  • 07 June 2022

    Pensions Dashboards: bringing all your pensions together

    Pensions Dashboards is a project run by the government with the help of a number of key delivery partners.


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  • 16 May 2022

    Guidance on your retirement options

    If you’re aged 50 or over and ask to transfer out or access any defined contribution (DC) benefits, including Additional Voluntary Contributions, you may need to get free guidance on your DC retirement options from Pension Wise.


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  • 09 May 2022

    The Tapered Annual Allowance and the three-year carry forward rule

    What is the ‘Tapered Annual Allowance’ and the 'three-year carry forward rule' and how could they affect me?


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  • 09 May 2022

    New Government rules for pension transfers

    The Government has introduced a new system to help protect pension savers from scams.


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  • 20 April 2022

    Plan ahead with the new Lifestyle Calculator!

    Find out quickly and easily how much money you may need for your life after work. ​


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  • 19 April 2022

    2022 pension increase

    From 1 April 2022 your Scheme pension will increase by up to 4.9%. A proportionate increase will apply if you have been in receipt of pension for less than 12 months.


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  • 28 March 2022

    How the Spring Statement affects you

    An update on the Spring Statement delivered by Chancellor Rishi Sunak on 23 March.


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  • 21 March 2022

    Financial advice and pension transfers

    Members who are thinking about transferring their pension to another registered pension scheme should be careful about the financial advice they receive.


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  • 16 December 2021

    Season’s greetings and Helpline opening times

    Changes to the Helpline opening hours over the festive period


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  • 07 December 2021

    Your latest newsletters are now available online

    In these new issues, you can find out more about how our careful and considerate approach when it comes to funding has continued to stand up well to the challenges we've faced during the Covid-19 pandemic.


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  • 29 November 2021

    New rules to protect members from scam transfers

    The Pensions Regulator gives pension trustees and scheme managers more powers to help prevent scams.


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  • 10 November 2021

    Update on Prudential AVCs – November 2021

    We have come to the conclusion that Prudential is no longer an appropriate AVC provider for us and have selected Aegon as our AVC provider for future contributions


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  • 27 October 2021

    ESPS Scheme Annual Meeting

    The 2021 Scheme AGM will be held on Monday 22 November 2021 starting at 1pm.


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  • 27 September 2021

    RPMI is changing its name to Railpen

    The change does not affect the day-to-day administration or management of your pension.


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  • 29 July 2021

    Don’t let criminals steal your retirement

    According to the Financial Conduct Authority, scammers defrauded people out of more than £2million worth of pension savings so far this year.


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  • 26 July 2021

    Prudential AVC update

    Prudential, our current AVC provider, have made the Trustee aware of significant delays in the processing of contributions.


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  • 16 June 2021

    New name for pensions support

    The Government-backed Money and Pensions Service (MaPS) is launching MoneyHelper.


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  • 09 June 2021

    Make sure your loved ones are provided for

    Have you thought about what will happen to your pension, if you die before it’s claimed?


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  • 20 April 2021

    2021 pension increase

    News about your Scheme pension increase for the 2021- 2022 tax year


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  • 01 February 2021

    Pension news round-up

    A round-up of the latest developments that may affect your pension…


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  • 04 January 2021

    Pension resolutions

    As we embark on another new year, it’s the perfect time to take control of your pension and set yourself up for the future. Here’s a few tips on how to start.


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  • 16 December 2020

    Early retirement option now available

    You can now choose to access your pension as early as age 55, which is the legal, minimum retirement age.


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  • 26 November 2020

    Staying safe from scammers

    Pension scams have been on the rise during the Coronavirus crisis.


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  • 09 October 2020

    State Pension age continues to rise

    The age at which people can start claiming a State Pension has now officially risen from 65 to 66.


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  • 21 September 2020

    Your latest newsletters are here!

    The 2020 issues of your SLC, Atkins, Cavendish Nuclear and NNL newsletters are now available online.


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  • 03 July 2020

    Support for pension savers

    Two new sets of guidance have been produced to provide support for pension savers in the times of financial uncertainty caused by the Covid-19 outbreak.


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  • 06 April 2020

    COVID 19 - risk of pension scams

    During this uncertain time members of many pension schemes might look to transfer their pension and they could be targeted by scammers.


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  • 23 March 2020

    Coronavirus update

    A message of reassurance to our members.


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  • 05 March 2020

    Your 2020 pension increase

    An article on the 2020/2021 pension increase including information on GMP and State Pension increase too.


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  • 10 February 2020

    SMART Pensions Annual Election

    Members of the SLC Section need to take action by 20 March 2020.


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  • 28 January 2020

    Brexit update

    The UK is officially withdrawing from the European Union on 31 January 2020 and will be in a transition period until 31 December 2020.


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  • 28 January 2020

    Member Trustees

    We have recently completed a selection process for vacancies on the Trustee Board.


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  • 11 October 2019

    Your personal account… coming soon

    You’ll soon be able to register for your own personal myESPS account to view details of your pension account.


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  • 20 August 2019

    Tell us what you think!

    We'd love to hear your feedback on your new website, so please get in touch.


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  • 30 July 2019

    Pensions dashboards

    Pensions dashboards were first announced in the 2016 Budget as a way to help people see information about all their pension savings in one place, including their State Pension.


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  • 23 July 2019

    Equalising benefits from Guaranteed Minimum Pensions (GMPs)

    In 2018, a High Court ruled that benefits arising from Guaranteed Minimum Pension (GMP) must be equalised for men and women.


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  • 22 July 2019

    Electricity Supply Pension Scheme Annual Meeting

    The Scheme’s Annual Meeting will take place on Monday 25 November 2019 at the offices of Eversheds Sutherland.


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  • 22 July 2019

    Magnox Electric Group Trustee Annual Meeting

    The Magnox Electric Group Trustee Annual Meeting will be held on Friday 6th December 2019.


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  • 08 April 2019

    Lifetime Allowance increase for 2019/20

    The Lifetime Allowance (LTA) increased to £1,055,000 from 6 April 2019.


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  • 06 March 2019

    New name unveiled for Single Financial Guidance Body

    From 6 April, the Single Financial Guidance Body will be re-named as the Money and Pensions Service (MAPS).


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  • 21 February 2019

    New laws target pension fraudsters

    In January 2019, cold calls on pensions became illegal. Make sure you know the warning signs of scams.


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