The Northumbrian Water Pension Scheme was established in 1990 as the Lyonnaise UK Pension Scheme, following the transfer of benefits and assets from the Water Companies Association Pension Scheme. Over time, it evolved through multiple mergers and name changes, adding new sections before closing to future accrual on 31 May 2022.
There are four main sections: Northumbrian Water (NW), Water Pension Scheme (WPS), Mirror Image Scheme and 80ths. Click through the timeline below to see our history.
The Northumbrian Water Pension Scheme began life as the Lyonnaise UK Pension Scheme, created by Lyonnaise UK Plc and four water companies. Benefits and assets were transferred from the Water Companies Association Pension Scheme (WCAPS) to form the original section, now called the Northumbrian Water Section.
The Scheme was renamed the Northumbrian Lyonnaise Pension Scheme. In the same year, beneficiaries and assets from the Northumbrian Water Group fund within the Water Pension Scheme (WPS) were transferred, creating the WPS Section.
Beneficiaries and assets from the Water Mirror Image Pension Scheme (MIS) were transferred to the Scheme, forming the MIS Section.
The Scheme became the Northumbrian Water Pension Scheme, the name it holds today.
The Detectronic Retirement Security Plan was transferred into the Scheme, further expanding its scope.
Two new sections were added: the 80th Section and the DC Section, broadening the Scheme’s structure.
From 1 January 2016, the NW, WPS, MIS and 80ths Sections in the Scheme changed to a CARE basis.
The DC Section moved to the LifeSight master trust, leaving only defined benefit (DB) arrangements within the Scheme.
All DB sections closed to future accrual from 31 May 2022, marking the latest milestone in the Scheme’s history.
Contact the Scheme administrator to find out which one you belong to.