Scottish & Southern Energy Group Pension Scheme

Scottish & Southern Energy Group Pension Scheme is a UK-based private sector pension fund, that is a funded final salary pension plan which seeks to provide its members with retirement benefits. The private sector pension plan consists of two active schemes under the names Southern Electric Pension Scheme (SEPS) and Scottish Hydro Electric Pension Scheme (SHEPS) for members of Southern Electric and Scottish Hydro-Electric plc respectively. Southern Electric originated as the Southern Electricity Board, created in 1948 as part of the nationalization of the electricity industry by the Electricity Act of 1947. The board's assets passed to Southern Electric plc in 1990, one of the fourteen Public Electricity Suppliers, and was privatized in the same year. In 1998, the company merged with Scottish Hydro-Electric plc and became part of Scottish and Southern Energy (SSE). The Southern Electric name is still used as a brand name by SSE Energy Supply Ltd for supplying gas and electricity in England and by Southern Electric Power Distribution PLC, the Distribution Network Operator in the south of England.Read more ⏷