Pensions Issues on Outsourcing – Withdrawal of LGPS Passports

    View Authors February 2013
    On 21 December 2012, the Department for Communities and Local Government published draft membership, contributions and benefits regulations for the new Local Government Pension Scheme, which are due to come into force in April 2014 (see our Public Sector Pension Reform - New Consultation update). In response, the Government Actuary’s Department (GAD) has announced an immediate change to the provision of broad comparability assessments for the LGPS in England and Wales. This will affect contractors and public sector bodies entering into outsourcing arrangements involving the transfer of former public sector employees into a private sector broadly comparable pension plan. Those anticipating a transfer within the next three months may need to liaise with their GAD contact immediately to ensure that appropriate certification will be available.