About us
As Trustees, we’re responsible for overseeing the running of the Scheme and safeguarding it on behalf of you, its members. With the help of advisers, and the Cadent Pensions Team acting as the Trustee Executive, we make sure that Scheme assets are invested appropriately and as securely as possible, and that member benefits are paid correctly and on time.
We’ve provided an overview of our board members below.
Who makes up the Trustee board?
The Trustee board is made up of four Trustees appointed by the Company and four Trustees appointed by members.
The Trustee board may change from time-to-time. We’ll endeavour to keep you updated about any changes.
Harry is a professional trustee and an experienced Chair of a number of pension schemes including the Board of Lloyds Banking Group Pensions Trustees Limited, the corporate trustee responsible for five pension schemes with over 250,000 members and assets of around £50 billion.
Janine is a professional trustee as a director of Independent Trustee Services Limited, taking trustee appointments on behalf of the firm since 2015. Janine is a qualified actuary with over 23 years of experience in the pensions industry and acts as a trustee for a wide variety of pension schemes.
Mark is Director of Customer Strategy at Cadent, which includes direct accountability for the company’s customer safeguarding strategy supporting customers in vulnerable situations to stay warm and independent in their homes. Mark has worked for Cadent and its predecessor companies for 19 years and has held numerous senior roles across the organisation. He is a deferred member of the Scheme.
Martin is Head of Commercial Services at Cadent and has worked for Cadent and its predecessor companies for 25 years in various senior commercial and customer-facing roles. Martin is also a Smart Energy Code Company Board (SECCo) Director. The Board decides on funding allocation and supplier contracts based on Smart Energy Code Panel recommendations regarding Smart metering national rollout and operations.
Martin is also a deferred CGPS member and a newly appointed Trustee.
Hilary was previously a Member Nominated Trustee for the National Grid (UK) Pension Scheme (NGUKPS) and has been a Trustee since 2018. Hilary joined the gas industry as a graduate trainee in South-Eastern Gas before transferring to the HQ pension fund investment team, which became Aerion. Hilary is a pensioner member of the Scheme.
Phil was previously a Member Nominated Trustee for the National Grid (UK) Pension Scheme (NGUKPS) and has been a Trustee since 2018. Phil is a chartered engineer and retired from National Grid after 34 years spent mainly in the Gas Distribution business, undertaking operational and asset management roles. Phil is a pensioner member of the Scheme.
Stephen was a professionally qualified Incorporated Gas Engineer and Operational Manager, encompassing every aspect of the Operational Gas Engineering field, before he retired from his role after completing 45 years of service. During his employment, Stephen served as a Pension Panel Member for three years and a Pension Representative for 12 years. Stephen is a pensioner member of the Scheme.
Sue joined British Gas as a graduate Mechanical Engineer and worked for 10 years for Cadent’s predecessor companies, British Gas and Transco. Sue has subsequently worked for nearly 20 years as a freelance consultant for a large variety of gas industry organisations and has a particular interest in sustainability and the transition to net zero. Sue is a deferred member of the Scheme.
Aptia (formerly Mercer) is the company that deals with the administration of the Scheme on behalf of the Trustees. It is a dedicated pension administration provider with a strong focus on technical expertise and customer service.
Aptia is the first port of call for any questions you might have about your Scheme benefits.
The history of the Scheme reflects changes in the UK gas industry – from the early days of the regional Gas Boards to the current privatised and diverse business.
On 1 January 2017, National Grid sold a majority stake in its gas distribution business, creating Cadent Gas Limited (formerly National Grid Gas Distribution).
As a result, the National Grid (UK) Pension Scheme (NGUKPS) was divided into three sections (A, B, and C) to allocate pension responsibilities among employers.
- Section A – sponsored by the commercial businesses, which are not regulated by Ofgem.
- Section B – sponsored by National Grid’s gas transmission business.
- Section C – sponsored by Cadent.
The sections were all ring-fenced from each other with completely separate assets and liabilities. Each section had its own assets, financial support, and security arrangements.
National Grid retained Sections A and B, while Cadent became responsible for Section C.
The NGUKPS Trustee Board was responsible for the whole Scheme.
In June 2019, National Grid sold its remaining stake in gas distribution to Cadent. As part of this sale, Cadent established its own pension scheme, and by August 2020, the NGUKPS Trustee approved the transfer of Section C into the new Cadent Gas Pension Scheme.
From October 2020, Cadent Gas Pension Trustee Limited became responsible for the assets and liabilities in the Cadent Gas Pension Scheme.
Below, you can find a visual of the history of the Scheme.