2.7  The provisions of paragraphs 2.7.1 and 2.7.3 shall apply in respect of NHS Participant Employees and the provisions of paragraphs 2.7.2and 2.7.3 shall apply in relation to LGPS Participant Employees.  

2.7.1  hubco shall procure that each NHS Participant Employee shall on the Transfer Date be offered membership of a pension scheme for future service operated by hubco (or the relevant Partnering Subcontractor) which must be:

(a)  established within three (3) months of the Transfer Date and maintained until any payment to be made under Schedule Part 16 (NHS Bulk Transfer Terms) is made;

(b)  reasonably acceptable to the NHS Participant (such acceptance not to be unreasonably withheld or delayed);

(c)  a registered pension scheme for the purposes of Part 4 of the Finance Act 2004; and

(d)  certified by the Government Actuary's Department as broadly comparable to the NHS Pension Scheme, assessed following the principles set out in the Statement of Practice issued by the Government Actuary's Department as current at the time.

2.7.2  hubco shall procure that each LGPS Participant Employee shall on the Transfer Date or the Cessation Date (as applicable) be offered membership of a pension scheme for future service operated by hubco (or the relevant Partnering Subcontractor) which must be: 

(a)  established within three (3) months of the Transfer Date or the Cessation Date (as the case may be) and maintained until any payment to be made under Schedule Part 17 (LGPS Bulk Transfer Terms) is made;

(b)  reasonably acceptable to the relevant Local Authority Participant (such acceptance not to be unreasonably withheld or delayed);

(c)  a registered pension scheme for the purposes of Part 4 of the Finance Act 2004; and

(d)  certified by the Government Actuary's Department as broadly comparable to the LGPS, assessed following the principles set out in the Statement of Practice issued by the Government Actuary's Department as current at the time.

2.7.3  hubco shall ensure that a certificate from the Government Actuary's Department referred to in paragraph 2.7.1(d) and 2.7.2(d) for the Broadly Comparable Scheme shall be delivered to the Participants on or before signature of this Agreement (or on or before the Cessation Date as applicable) and shall provide confirmation that the certificate(s) remain in force [three (3)] months before each Transfer Date or Cessation Date (as the case may be) in respect of each NHS Participant Employee and each LGPS Participant Employee who is to be offered membership of the pension scheme to which the certificate relates.