Common use of Contractor Scheme Clause in Contracts

Contractor Scheme. 3.7.1 The Contractor will or will procure that any relevant Subcontractor will not later than the Relevant Transfer Date or the Cessation Date (as the case may be) nominate to the Employer in writing the occupational pension scheme or schemes which it proposes will be “the Contractor Scheme” for the purposes of this paragraph 3.7. Such pension scheme or schemes must be: 3.7.1.1 established within 3 months prior to the Relevant Transfer Date or as soon as reasonably practicable after the Cessation Date (as the case may be) and maintained until any payment to be made under Part 2 of this schedule (Bulk Transfer Terms) is made, 3.7.1.2 reasonably acceptable to the Employer (such acceptance not to be unreasonably withheld or delayed), 3.7.1.3 registered within the meaning of the Finance Xxx 0000 and 3.7.1.4 certified by the Government Actuary’s Department or an actuary nominated by the Employer in accordance with relevant guidance produced by the Government Actuary’s Department as providing benefits which are the same as, broadly comparable to, or better than those benefits provided by the LGPS. 3.7.2 The Contractor undertakes to the Employer (for the benefit of the Employer itself and for the Employer as agent and trustee for the benefit of the Eligible Employees) that it will and will procure that any relevant Subcontractor will procure that: 3.7.2.1 the Eligible Employees will by 3 months before the Relevant Transfer Date or as soon as reasonably practicable after the Cessation Date (as the case may be) be offered membership of the Contractor Scheme with effect from and including the Relevant Transfer Date or Cessation Date (as the case may be), 3.7.2.2 the Contractor Scheme will provide benefits in respect of the Eligible Employees’ periods of service on and after the Relevant Transfer Date or Cessation Date (as the case may be) which the Government Actuary’s Department or an actuary nominated by the Employer in accordance with relevant guidance produced by the Government Actuary’s Department will certify to be the same as, broadly comparable to or better than the benefits which the Eligible Employees were entitled to under the LGPS at the Relevant Transfer Date or the Cessation Date (as the case may be). In the case of Eligible Employees who are Transferring Original Employees, the benefits provided from the Relevant Transfer Date must be the same as, broadly comparable to or better than the benefits provided by their pension scheme immediately before the Relevant Transfer Date (where this scheme was not the LGPS, 3.7.2.3 on and from the Relevant Transfer Date or Cessation Date (as the case may be) until the earlier of:

Contractor Scheme. 3.7.1 The Where this clause 2.5 applies pursuant to clause 2.4, the following shall apply: 2.5.1 the Contractor will shall or will shall procure that any relevant Subcontractor will Sub-Contractor shall not later than the Relevant Service Transfer Date or the Cessation Date (as the case may be) nominate to the Employer Authority in writing the occupational pension scheme or schemes which it proposes will shall be “the Contractor Scheme” Scheme for the purposes of this paragraph 3.7clause 2.5. Such pension scheme or schemes must be: 3.7.1.1 2.5.1.1 established within 3 three (3) months prior to of the Relevant Service Transfer Date or as soon as reasonably practicable after the Cessation Date (as the case may be) and maintained until any payment to be made under Part 2 of this schedule (Bulk Transfer Terms) is made,); 3.7.1.2 2.5.1.2 reasonably acceptable to the Employer Authority (such acceptance not to be unreasonably withheld or delayed),; 3.7.1.3 2.5.1.3 a registered within pension scheme for the meaning purposes of Part 4 of the Finance Xxx 0000 0000; and 3.7.1.4 2.5.1.4 certified by the Government Actuary’s 's Department or an actuary nominated by the Employer Authority in accordance with relevant guidance produced by the Government Actuary’s 's Department as providing benefits which are the same as, broadly comparable to, to or better than those benefits provided by the LGPS.applicable Legacy Scheme; 3.7.2 The 2.5.2 the Contractor undertakes to the Employer Authority (for the benefit of the Employer Authority itself and for the Employer Authority as agent and trustee for the benefit of the Eligible Employees) that it will shall and will shall procure that any relevant Subcontractor will Sub-Contractor shall procure that: 3.7.2.1 2.5.2.1 the Eligible Employees will shall by 3 three (3) months before the Relevant Service Transfer Date or as soon as reasonably practicable after the Cessation Date (as the case may be) be offered membership of the Contractor Scheme with effect from and including the Relevant Service Transfer Date or Cessation Date (as the case may be),; 3.7.2.2 2.5.2.2 the Contractor Scheme will shall provide benefits in respect of the Eligible Employees’ ' periods of service on and after the Relevant Service Transfer Date or Cessation Date (as the case may be) which the Government Actuary’s 's Department or an actuary nominated by the Employer Authority in accordance with relevant guidance produced by the Government Actuary’s 's Department will shall certify to be the same as, broadly comparable to or better than the benefits which the Eligible Employees were entitled to under the LGPS applicable Legacy Scheme at the Relevant Service Transfer Date or the Cessation Date (as the case may be). In ; 2.5.2.3 if the case of Contractor Scheme is terminated, a replacement pension scheme shall be provided with immediate effect for those Eligible Employees who are Transferring Original Employees, still employed by the benefits provided from Contractor or relevant Sub-Contractor. The replacement scheme must comply with this clause 2.5 as if it were the Relevant Transfer Date must be the same as, broadly comparable to or better than the benefits provided by their pension scheme immediately Contractor Scheme; 2.5.2.4 before the Relevant Transfer Date (where this scheme was not the LGPS, 3.7.2.3 on and from the Relevant Service Transfer Date or Cessation Date (as the case may be) the trustees of the Contractor Scheme shall undertake by deed to the Authority and to any Administering Authority or Participating Authority as may be required by the provisions governing any Legacy Scheme that they shall co- operate with the provisions of clauses 2.5, 2.6 and [Schedule 23] to the extent applicable to them; and 2.5.2.5 where the Contractor Scheme has not been established at the Service Transfer Date or Cessation Date (as the case may be), the Eligible Employees shall be provided with benefits in respect of death-in-service which are no less favourable than the death-in-service benefits provided by the Legacy Scheme immediately before the Service Transfer Date or Cessation Date (as the case may be). Such benefits will continue to be provided until death-in-service benefits are provided by the earlier of:Contractor Scheme; and 2.5.3 The Authority’s actuary shall determine the terms for any bulk transfers from a Legacy Scheme to the Contractor's Scheme following the Service Transfer Date and any subsequent bulk transfers on termination or expiry of this Agreement.