TUPE & Workplace Pension Query?

eamon

Hi Folks

My current job is "At Risk" of redundancy. I'm over 55yo and the rules of my pension fund are as below under the heading of

Redundancy or efficiency from age 55

"Your pension will be payable immediately (with no reduction for early payment) if you are made redundant or if you lose your job for business efficiency reasons when age 55 or over. This is the pension you have built up in the scheme up to the date you leave the scheme, not the benefits you would have received if you had stayed in the scheme until your normal retirement age."

I understand all that and what it all means in £ & p's.

My employer has said in a recent meeting that there may be TUPE implications as my job is being outsourced. Having read ACAS TUPE guidelines I understand that workplace pensions are excluded. I would imagine that TUPE counts as an "Efficiency" measure and my workplace pension would become payable if/when TUPE happens. I sit/stand prepared to be corrected.

Look forward to replies from anybody who knows more than me 

MallyGirl

is this a DB pension scheme?

molerat

That wording looks like LGPS ?

Not many pointers that are explicit over TUPE at 55+

tupe-staff-factsheet.pdf (dorsetpensionfund.org)

xylophone

is this a DB pension scheme?

Looks very like LGPS.

https://www.lgpsmember.org/your-pension/the-essentials/key-features/

xylophone

My employer has said in a recent meeting that there may be TUPE implications as my job is being outsourced. 

Is it LGPS?

If so, below might be of interest.

https://www.peninsulapensions.org.uk/members/local-government/your-pension-scheme/tupe-transfers-implications-for-lgps-members/

eamon

Should have said at the start LGPS, sorry.

Andy_L

if you are TUPE'd you haven't been "made redundant or [lost] your job for business efficiency reasons" so your pension isn't "payable immediately (with no reduction for early payment)"

Albermarle

As above TUPE'd means you will be transferred to a new role with another organisation, as part of a reorganisation, takeover etc .
Salary and terms of employment should remain broadly the same/ you should not lose out.

You may as an alternative be offered voluntary redundancy ( can be a good deal if you do not fancy the new role )  but you do not have to take it.

hyubh

eamon said:

My employer has said in a recent meeting that there may be TUPE implications as my job is being outsourced. Having read ACAS TUPE guidelines I understand that workplace pensions are excluded. I would imagine that TUPE counts as an "Efficiency" measure and my workplace pension would become payable if/when TUPE happens. I sit/stand prepared to be corrected.

No, since so-called 'Fair Deal' means public sector TUPEs will include pension protection. In an LGPS context either the lucky new employer will form an 'admission agreement' with the pension fund and get their very own DB pension liability (outfits like Capita have collected a lot of these over the years), or alternatively, the old employer will maintain the responsibility for funding both the historic liability and continuing LGPS membership for the transferred employees, until they leave or move to a role unconnected with the outsourced service.

eamon

Thank you all for your kind contributions. I have much to learn etc, the next few weeks should be interesting to say the least.