Pension Protection Clause Samples
The Pension Protection clause is designed to safeguard employees' pension rights and benefits during the course of their employment or in the event of organizational changes, such as mergers or acquisitions. Typically, this clause ensures that any existing pension schemes are maintained or that employees are provided with equivalent benefits if changes occur. For example, it may require the employer to continue contributions to a pension fund or to transfer accrued benefits to a new plan without loss. The core function of this clause is to provide security and continuity for employees' retirement savings, protecting them from adverse changes that could diminish their future financial stability.
Pension Protection. 10The Contractor shall, from the date of any Relevant Transfer during the Contract Period (including from the Commencement Date, where there is a Relevant Transfer on that date), comply and ensure that each Sub- contractor complies with the revised Fair Deal position set out in HM Treasury’s Guidance “Fair Deal for staff pensions: staff transfer from Central government” issued in October 2013 (“the New Fair Deal”) and any related governmental guidance or codes of practice.
Pension Protection. The Contractor shall, from the date of any Relevant Transfer during the Contract Period (including, for the avoidance of doubt, from the Commencement Date, in the event of there being a Relevant Transfer on that date), comply and procure that each Sub-contractor shall comply with the Cabinet Office Statement and any related governmental guidance or codes of practice.
Pension Protection. 2.3.1. The Supplier shall ensure, and shall procure in relation to any Sub-Contractor that all Eligible Employees are offered Appropriate Pension Provision with effect from the Transfer Date up to and including the Expiry Date or the date of termination or any later completion of the provision of the Services.
2.3.2. The provision of this paragraph 2.3 shall be directly enforceable by an affected employee against the Supplier.
Pension Protection. The Supplier shall ensure, and shall procure in relation to any Sub-Contractor that all Eligible Employees are offered Appropriate Pension Provision with effect from the Transfer Date up to and including the Expiry Date or the date of termination or any later completion of the provision of the Services.