hubco Undertaking

2.11  hubco undertakes to each of the Participants (for the benefit of the Participants themselves and for the Participants as agent and trustee for the benefit of the NHS Participant Employees and the LGPS Participant Employees) that it shall (and shall procure that any relevant Partnering Subcontractor shall) procure that:

2.11.1  the NHS Participant Employees and the LGPS Participant Employees shall by three (3) months before the Transfer Date or the Cessation Date (as the case may be) be offered membership of the Broadly Comparable Scheme with effect from and including the Transfer Date (or Cessation Date (as the case may be)).

2.11.2  the Broadly Comparable Scheme shall provide benefits in respect of the NHS Participant Employees' and the LGPS Participant Employees' periods of service on and after the Transfer Date (or Cessation Date (as the case may be)) which the Government Actuary's Department shall certify to be the same as, broadly comparable to, or better than the benefits which the NHS Participant Employees and the LGPS Participant Employees were entitled to under the NHS Pension Scheme and the LGPS (as applicable) at the Transfer Date (or the Cessation Date (as the case may be)). 

2.11.3  if the Broadly Comparable Scheme is terminated, a replacement pension scheme shall be provided with immediate effect for those NHS Participant Employees and LGPS Participant Employees who are still employed by hubco or a relevant Partnering Subcontractor. The replacement scheme must comply with this paragraph 2.11 as if it were the Broadly Comparably Scheme.

2.11.4  Where the Broadly Comparable Scheme has not been established by the Transfer Date (or Cessation Date (as the case may be)) the NHS Participant Employees and the LGPS Participant Employees shall be provided with benefits in respect of death-in-service which are no less favourable than the death-in-service benefits provided by the NHS Pension Scheme or the LGPS (as applicable) before the Transfer Date (or Cessation Date (as the case may be)). Such benefits shall continue to be provided until death-in-service benefits are provided by the Broadly Comparable Scheme.