The AGM of the ESPS will be held on Wednesday 11 October 2006
at the
Conference Centre, the British Library,
Members are encouraged to attend and support the resolution proposed by two members of the Association.
If you cannot attend you can vote by proxy. Proxy forms are available for your scheme
administrator and should be returned to the Secretary of the Scheme at
Electricity Pensions Services Limited,
A copy of the formal notice of the Scheme AGM is set out below.
ELECTRICITY SUPPLY PENSION SCHEME
Telephone
020 7803 3100 Fax: 020 7803
3139
ELECTRICITY SUPPLY PENSION SCHEME
NOTICE OF ANNUAL GENERAL MEETING OF SCHEME
MEMBERS
Notice is hereby given that the twenty-fourth Annual General Meeting of
the members of the Scheme will be held at the Conference Centre, the British
Library,
1 Introduction and welcome
2 Confirm the Minutes of the
twenty-third Annual General Meeting held on 12 October 2005.
3 Consider matters arising out of
the Minutes.
4 Receive the Report of the Chair of
Electricity Pensions Trustee Limited (EPTL) in respect of the year
ended
31 March 2006.
5 Receive a presentation on the Statement of Accounts by the Head of Finance of Electricity Pensions Services Limited (EPSL).
6 Receive a presentation on
investment issues by EPTL's investment adviser.
7 Receive a presentation on
preparations for the 2007 valuation.
8 Receive a presentation on the
impact of the Government's pensions legislative
reforms.
9 Consider matters arising out of
the presentations.
10 Receive
the Statement of Accounts and Auditors' report thereon, for the year ended 31
March 2006 and the Report by the Scheme Trustee for that year.
11 Consider
the following resolution proposed by Mr Jack Andrews
and seconded by Mr Mike Moriarty:
"Rule 26 of the ESPS Scheme Constitution provides for
the indexation of ESPS pensions by
reference to the Cost of Living Index for the last preceding month of
September. It also restricts pension increases to S% unless the employer
resolves to increase pensions above this figure.
After much public pressure, the Government have
now agreed to restore the link between national pension increases and wage
inflation in 4 years time.
In company with all other pensioners, ESPS
members have experienced considerable reductions in the value of their pensions
because wage inflation has far outstripped the alleged cost of living index in recent years.
For example, wages are currently increasing by 4% pa and ESPS pensioners
received a 2.7% increases from April 2006.
We believe that actual cost of living increases are not
properly reflected in the Cost of Living
Index. Recent heavy increases in Council and national "stealth" taxes
and exorbitant increases in fuel costs, including electricity, gas, petrol and
solid fuel, for which our own employers are partly responsible, are now
threatening to drive our poorest pensioners into relative poverty.
Members Scheme-wide are invited to support the
following formal motion at the ESPS AGM on 11 October:
That the Electricity employers be requested to take immediate action to
amend Rule 26 of the ESPS Constitution to.,
(a) relate all ESPS pension increases to
national increases in wages with effect from 1st` April 2007; and
(b) incorporate into Rule 26(2)(b) the
spirit of their past statements that they have always previously matched actual
inflationary increases with similar increases in pensions where these have been
in excess of S% (the implication being that this is to continue into the
future). "
12 Consider any other competent business.
Dated this 4`h day of September 2006. A Allen,
Secretary of the Scheme
NOTE
A member
may appoint the Chair or another member attending the meeting as his proxy for
voting in relation to the resolution set out in 11 above, in the event of a
poll being demanded and taken at the meeting, by completion of an appropriate proxy
form, which can be obtained from the Group Administrator of his Group.
Completed proxy forms should be delivered to the Secretary of the Scheme at
Electricity Pensions Services Limited,