Key pension issues in a public sector outsourcing

Produced in partnership with Michael Hayles and Amy Davies of Burges Salmon LLP
Practice notes

Key pension issues in a public sector outsourcing

Produced in partnership with Michael Hayles and Amy Davies of Burges Salmon LLP

Practice notes
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FORTHCOMING DEVELOPMENT: The Ministry of Housing, Communities and Local Government consulted in May 2016 on the introduction of greater pensions protection for employees of the local government pension scheme (LGPS) who are compulsorily transferred to service providers. In doing so, it was proposed that the option to provide transferring staff with access to a broadly comparable scheme should be removed. The government response to the consultation of 19 April 2018 confirmed a commitment to introduce the strengthened  Fair Deal in the LGPS but noted that respondents to the 2016 consultation had raised a number of concerns regarding the proposed approach.

The Ministry of Housing, Communities & Local Government then consulted on amendments to the Local Government Pension Scheme Regulations 2013 to order to give transferred staff a continued right (in most cases) to membership of the LGPS as set out in the draft Local Government Pension Scheme (Amendment) Regulations 2019 (contained in Annex A of the consultation document).

The amendments cover two particular areas:

the

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United Kingdom
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Sector definition
What does Sector mean?

stock markets are divided into sectors, which comprise of companies from the same industries eg telecommunications sector, oil sector, media sector etc.

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