Pensions briefing note email
In order to open up the public sector to more competition and to reduce costs, the Fair Deal requirements have been changed, significantly.
A business wishing to tender for outsourcing work with the Government will have to start participating in the relevant public sector pension scheme, rather than having to provide access to a broadly comparable pension scheme.
The new guidance takes immediate effect but, practically speaking, will only come into force once the public sector pension schemes have been amended to enable private sector employers to participate. The old Fair Deal policy will apply to transfers which take place before the relevant pension scheme has been amended, and where a procurement is already underway and too advanced for it to be practical for the new policy to be applied. The new guidance will apply to all cases from April 2015.
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