Latest Public Sector News

27.05.16

Public sector workers entitled to keep pensions after transfer under proposed reforms

Public sector employees who are compulsorily transferred to a private sector employer will be able to stay in their original pension schemes, under new government proposals.

The proposed changes to the Fair Deal for Staff Pensions regulations of the Local Government Pensions Scheme (LGPS) will end the practice of offering workers comparable private sector pensions after they are transferred.

The DCLG proposes requiring independent providers to accept ‘protected transferee employer’ status in order to achieve this, although it is seeking feedback on alternative options.

The consultation is the second into the LGPS this year, following one that led to controversial new requirements for pension funds to invest in government infrastructure projects.

The LGPS is growing rapidly, with its membership growing by 14% in 2013-14.

The consultation is open until 20 August. To take part, click here.

Have you got a story to tell? Would you like to become a PSE columnist? If so, click here.

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