Examples of Fair Deal for Staff Pensions in a sentence
The Parties agree that where a Successor or the Authority provides the Services or services which are fundamentally the same as the Services in the immediate or subsequent succession to the Supplier or Sub-contractor (in whole or in part) on expiry or early termination of this Contract (howsoever arising) TUPE, the Cabinet Office Statement and Fair Deal for Staff Pensions may apply in respect of the subsequent provision of the Services or services which are fundamentally the same as the Services.
The Parties agree that where a Successor or the Authority provides the Services or services which are fundamentally the same as the Services in the immediate or subsequent succession to the Supplier or subcontractor (in whole or in part) on expiry or early termination of this Contract (howsoever arising) TUPE, the Cabinet Office Statement and Fair Deal for Staff Pensions may apply in respect of the subsequent provision of the Services or services which are fundamentally the same as the Services.
In accordance with B.4 of Fair Deal for Staff Pensions, the terms of the bulk transfer should be determined by the former provider’s Actuary at the outset of the procurement process.
The Parties agree that where a Successor or the Council provides the Services or services which are fundamentally the same as the Services in the immediate or subsequent succession to the Supplier or Sub-contractor (in whole or in part) on expiry or early termination of this Contract (howsoever arising) TUPE, the Cabinet Office Statement and Fair Deal for Staff Pensions may apply in respect of the subsequent provision of the Services or services which are fundamentally the same as the Services.
Under Fair Deal for Staff Pensions, transferring staff are entitled to an occupational pension scheme which is certified by an actuary as being overall, materially, at least as good as the public sector pension scheme which they are leaving.
B.7 of Fair Deal for Staff Pensions indicates that Eligible Employees should normally be given a 3 month period in which to exercise their Transfer Option.
If TUPE, the Cabinet Office Statement and Fair Deal for Staff Pensions apply then Clause 17.11 to Clause 17.14 of this Schedule 2 and (where relevant) the provisions of Clause 1.15 of Part D of Schedule 7 shall apply.
In terms of shortfalls, please see section 2 of Stage 2 of the guidance issued in February 2014 by the Department of Health in respect of the impact of Fair Deal for Staff Pensions on NHS Pension Scheme participation.
Fair Deal for Staff Pensions also requires that transferring staff have the option to transfer their accrued pension rights to the new pension scheme.
The Authority will need to consider whether, in light of direction that was provided in the historic HM Treasury Guidance "A Fair Deal for Staff Pensions: Procurement of Bulk Transfer Agreements and Related Issues", it wants the exit provisions to cover the Transferring Members, the Eligible Employees or wider still the Returning Employees who are members of the Contractor's Scheme.