Scheme history

Bradford & Bingley Staff Pension Scheme

The Bradford & Bingley Staff Pension Scheme ( the B&B Scheme) began in April 1967. It provides retirement benefits to former employees of Bradford & Bingley Building Society and Bradford & Bingley plc.

The B&B Scheme closed to new members in April 2001 and existing members stopped building up benefits in the Scheme in December 2009 (or earlier if they left employment before then).

Following the wind-down of the bank, the B&B Scheme continues to operate with Trustee oversight, ensuring that members receive the benefits they’ve built up.

The Trustee of the B&B Scheme is Bradford & Bingley Pensions Limited. They carry out formal trustee responsibilities, overseeing governance, compliance, and fiduciary duties.

NRAM Pension Scheme

The NRAM Pension Scheme (the NRAM Scheme) began in July 1961. It provides retirement benefits to former employees of the Northern Rock Building Society, Northern Rock plc, and Northern Rock Asset Management.

The Defined Benefit (Salary Related) Section of the NRAM Scheme closed to new members in 1999 and existing members stopped building up benefits in that section in December 2009 (or earlier if they left employment before then).

The NRAM Scheme also had a Defined Contribution (Money Purchase) Section, which new members joined from 1999. This closed in December 2009 and members’ money purchase benefits were transferred to L&G in 2016.

The Trustee of the NRAM Scheme is NRAM Pensions Limited. They carry out formal trustee responsibilities, overseeing governance, compliance, and fiduciary duties.