The History of the Scheme and Its Sponsoring Employers Scheme Set up As a Separate Scheme

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BG Group Pension The history of the Scheme and its sponsoring employers Scheme set up as a separate scheme. As a result of the sale to Cadent, The CGPS is set up by From 1 October 2020, the NGUKPS is NGUKPS was split into three Cadent as a separate comprised of two Sections: A and B: The Scheme has a complicated history which mirrors the changes to the UK’s sections: A, B and C: scheme. gas industry and its various sponsoring employers over the years – from the Section A - sponsored by National Grid’s early days of the regional gas boards to the present day, National Grid plc. Section A - sponsored by National The assets and commercial businesses Grid’s commercial businesses. liabilities of Section C The name of the Scheme has changed many times over the years to reflect BG Group Pension Scheme. were transferred from Section B - sponsored by National Grid's the sponsoring employer. Section B - sponsored by National NGUKPS to CGPS on Gas Transmission business. Grid’s Gas Transmission business. 30 September 2020. The National Grid UK The two sections are ring-fenced from each Pension Scheme (NGUKPS) Section C - sponsored by Cadent other, with completely separate assets and Gas plc. CGPS liabilities. Each section has its own assets, British Gas BG Staff and financial support and security arrangements. Corporation BG Corporation The The Gas Lattice Group Staff Pension Pension Scheme. Pension Schemes. Pension Scheme. Scheme NGUKPS SECTION SECTION SECTION SECTION SECTION SECTION Schemes. A B C C A B 1948 1952 1980 1997 1998 1999 2000 2002 2005 2006 2017 2019 2020 National Grid sold a stake of its gas distribution National Grid sold the Cadent set up its own pension The business to Cadent Gas. remaining stake of its scheme, the Cadent Gas British Gas BG plc BG Group plc BG Group plc Company This led to the Scheme gas distribution to Pension Scheme (CGPS). changes outlined above. Cadent Gas. Lattice Regional gas boards Centrica December – BG plc National Grid National Grid National Grid National Grid Group plc Transco plc were created. completed a financial plc plc plc restructuring resulting in a new parent company, BG Group plc. February – British Gas plc October – BG Group plc October – Lattice July – National Grid Cadent Gas Cadent Gas shareholders approved completed the demerger Group plc merged Transco plc was renamed the demerger of Centrica of Lattice Group plc, with National Grid to National Grid plc. plc. British Gas was creating two separate form National Grid renamed BG plc. companies. Transco plc..

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