Pension Information for Bidders 13 05 10 (2)

Pension Information for Bidders 13 05 10 (2) - CONFIDENTIAL...

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CONFIDENTIAL Croydon Council - London Borough of Croydon Briefing Note to Bidders – Pensions 1. General 1.1. In relation to pension benefits, all Eligible Employees who transfer their contract of employment under the terms of the ********Outsourcing Contract, must as a minimum and in accordance with HM Treasury Guidance 'Staff Transfers from Central Government - A Fair Deal for Staff Pensions', be offered in respect of future service one of the following pension options: (a) the opportunity to remain in the London Borough of Croydon Pension Fund in the Local Government Pension Scheme (“LGPS”) by means of the Contractor and/or its Sub-Contractors (as appropriate) seeking to become a Transferee Admission Body within the LGPS; (b) membership of an alternative pension scheme which is actuarially certified as providing benefits that are at least broadly comparable to those benefits provided by the LGPS. The certification should be by reference to the criteria for “broad comparability” set out by the Government Actuary’s Department (GAD). Bidders will be aware that GAD certificates issued before 26 April 2007 are no longer valid and cannot be accepted by the Authority. A blanket withdrawal has been necessary as the terms of the LGPS (England and Wales) have been amended. However, the Authority is prepared to offer Bidders some flexibility by enabling Bidders to obtain a passport from either GAD or an actuary nominated by the Authority. Any certificate provided by Bidders will need to be valid from the Relevant Service Transfer Date or Cessation Date (as appropriate) and from the 1 April 2008 (in the event that any certificate provided is a short-term certificate expiring on 31 March 2008) until expiry or earlier termination of the ******** Contract.
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