This is a long standing Defined Benefit scheme that was formed in 1973 and has merged in several other defined benefit schemes (some which date from the 1950s).
The Powerhouse Retail Group is one of the 26 Groups of the Electricity Supply Pension Scheme (ESPS). The Scheme is an industry wide pension Scheme comprising companies formed on privatisation of the electricity industry.
Hanson is joining many large businesses in the UK including British Energy, BAE Systems and Lafarge by offering all eligible employees the chance to save money through a salary exchange agreement known as Smart Pensions.
