Pensions

Current details of membership of the Pension Scheme are included on the Collaborative Website set up for the Project [in the Data Room].

In relation to pension benefits, all employees who transfer their contract of employment under the terms of the Project and who are members of, or are entitled to be members of the Local Authority's Scheme, must (as a minimum) be offered:

•  A broadly comparable pension for future service, both on the initial transfer under the partnership arrangement, and on any second and subsequent transfers. The Government Actuary's Department ('GAD') must certify that the benefits offered are broadly comparable.

•  The option to move any accrued credits to the new scheme by means of a bulk transfer on a day-for-day past-service credit basis.

The costs of obtaining the Certificates of Broad Comparability from the GAD and any Independent Actuaries fees are to be borne by the Service Provider.