ADMITTED BODY STATUS TO THE LOCAL GOVERNMENT PENSION SCHEME Sample Clauses

ADMITTED BODY STATUS TO THE LOCAL GOVERNMENT PENSION SCHEME. For the purposes of Clause 0, the Company undertakes to provide the Acquired Staff who were active or eligible to be active members of the LGPS immediately prior to the Commencement Date, with membership of the LGPS and to enter into an Admission Agreement to which each Home Authority shall be a party effective from and including the Commencement Date in the form set out in Appendix 1. The Home Authorities shall be responsible for actuarial fees incurred in connection with the Admission Agreement and for any other fees incurred in connection with the Company’s admission to the LGPS in proportion to their original budget/funding contributions to the Company as set out in Clause 8 and Schedule 2 (Funding) of the Agreement. The liabilities of the Company and the Administering Authority in connection with the Company’s admission to the LGPS as a Community Admission Body are set out in the Admission Agreement referred to in Clause 19.1 of the Agreement. The Company shall award benefits (where permitted) that are payable before normal retirement date (otherwise than on ill health) to the Acquired Staff under the LGPS Regulations in circumstances where the Acquired Staff would have received such benefits or been eligible to be considered for such benefits under discretionary powers before normal retirement date had they still been employed by the Home Authority. The Company shall be responsible for meeting all costs associated with the award of such benefits to the extent that they are not included in the contribution rate.
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ADMITTED BODY STATUS TO THE LOCAL GOVERNMENT PENSION SCHEME. 6.1 Where Service Provider wishes to offer the Eligible Employees membership of the LGPS, save where the Council is the employer of the Eligible Employees, the Customer shall enter into an Admission Agreement if required by the Council to have effect from and including the relevant Effective Date.
ADMITTED BODY STATUS TO THE LOCAL GOVERNMENT PENSION SCHEME. A.4.1. Where the Provider or its sub-contractor (subject to Secretary of State approval for a sub- contractor to become an admitted body) wishes to offer the Eligible Employees membership of the LGPS, the Provider shall or shall procure that it and/or each relevant sub-contractor shall enter into an Admission Agreement to have effect from and including the Relevant Transfer date. The Provider or sub-contractor will bear the cost of any actuarial assessment required in order to assess the employer's contribution rate, Pension Bond value and to establish an opening funding position to be used as the basis for future actuarial valuations, in respect of any Eligible Employee who elects to join the LGPS on or after the Relevant Transfer date.
ADMITTED BODY STATUS TO THE LOCAL GOVERNMENT PENSION SCHEME. Where the Contractor or Sub-Contractor wishes to offer the Eligible Employees membership of the LGPS, the Contractor shall or shall procure that it and/or each relevant Sub-Contractor shall enter into an Admission Agreement to have effect from and including the Effective Date or, if the Relevant Transfer occurs after the Effective Date, from and including the date of that Relevant Transfer. [The Contractor or Sub-Contractor will bear the cost of any actuarial assessment required in order to assess the employer’s contribution rate [or Bond value] in respect of any Eligible Employee who elects to join the LGPS [on or after] the Effective Date.] The Contractor shall indemnify and keep indemnified the Council and/or any Replacement Contractor and, in each case, their service providers, from and against all direct losses suffered or incurred by it or them, which arise from any breach by the Contractor or Sub-Contractor of the terms of the Admission Agreement, to the extent that such liability arises before or as a result of the termination or expiry of the Contract. The Contractor shall and shall procure that it and any Sub-Contractor shall prior to the Effective Date or, if the Relevant Transfer occurs after the Effective Date, from and including the date of that Relevant Transfer, obtain any indemnity or Bond required in accordance with the Admission Agreement. [The format for the bond agreement is attached at Appendix [NUMBER].] The Contractor shall and shall procure that any relevant Sub-Contractor shall award benefits (where permitted) to the Eligible Employees under the LGPS Regulations in circumstances where the Eligible Employees would have received such benefits had they still been employed by the Council. The Contractor shall be responsible for meeting all costs associated with the award of such benefits. CONTRACTOR PENSION SCHEME [Where the Contractor or Sub-Contractor does not wish to or is otherwise prevented from offering the Eligible Employees membership or continued membership of the LGPS or such other broadly comparable scheme, t][T]he Contractor shall or shall procure that any relevant Sub-Contractor shall offer the Eligible Employees membership of an occupational pension scheme with effect from the Effective Date or, if the Relevant Transfer occurs after the Effective Date, from and including the date of that Relevant Transfer. Such an occupational pension scheme must be: established no later than [three months] prior to the date of the Relev...
ADMITTED BODY STATUS TO THE LOCAL GOVERNMENT PENSION SCHEME. 5.1 Where the Contractor or Sub-Contractor wishes to offer the Eligible Employees membership of the LGPS, the Contractor shall or shall procure that it and/or each relevant Sub-Contractor shall enter into an Admission Agreement to have effect from and including the Effective Date or, if the Relevant Transfer occurs after the Effective Date, from and including the date of that Relevant Transfer. The Contractor or Sub-Contractor will bear the cost of any actuarial assessment required in order to assess the employer's contribution rate or Bond value in respect of any Eligible Employee who elects to join the LGPS on or after the Effective Date. Hide Admitted body status to the LGPSNote: Admitted body status to the LGPS Schedule 10, Part 1, paragraph 5.1 : Admitted body status to the LGPS Admitted body status to the LGPS Paragraph 5 applies only where the Eligible Employees are members (or eligible for membership of) the LGPS. Except in limited circumstances, where the transfer involves employees moving from another public sector scheme, the only option for the Service Provider is to offer the employees membership of a GAD certified scheme, as envisaged in paragraph 6. Paragraph 5.1 includes a provision requiring the Service Provider to bear the actuarial fees before and after the Effective Date, to cover the situation where an Eligible Employee chooses to join the scheme at a later date. (If the employer's contribution rate is fixed by the administering authority or contracting authority without reference to an actuarial assessment, such costs do not arise except in respect to assessing and renewing the level of any Bond cover, if deemed necessary. See Practice note, Managing pensions risk in local authority outsourcing transactions (xxx.xxxxxxxxxxxx.xxx/0-000-0000).) Note that Eligible Employee is defined as "the Transferring Employees [or Third Party Employees] who are active members of the (or eligible to join) the LGPS on date of a Relevant Transfer including the Effective Date". Third Party Employees are included if they are Eligible Employees, for example, on a second-generation outsourcing, where the Third Party Employees are former council employees who remain entitled to membership of the LGPS or a broadly comparable pension scheme. The Authority should consider appending a standard Admission Agreement and Bond Agreement to the agreement that is sent out with the tender documents. Hide Note

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