Broadly Comparable Scheme definition
Examples of Broadly Comparable Scheme in a sentence
Such benefits shall continue to be provided until death-in-service benefits are provided by the Broadly Comparable Scheme.
The Authority shall provide DBFM Co with such information as it (or any Service Provider) may reasonably require in relation to the LGPS to enable DBFM Co (or any relevant Service Provider) to submit a proposal to the Government Actuary’s Department to assess the comparability of the Broadly Comparable Scheme.
All costs incurred in connection with the Admission Agreement and/or obtaining a certificate of broad comparability from the Government Actuary’s Department shall be borne by DBFM Co. DBFM Co shall procure that each Broadly Comparable Scheme shall be able to accept bulk transfers from the LGPS.
In respect of the Pensionable Authority Employees, the Authority shall use reasonable endeavours to ensure that the relevant Administering Authority transfers from the Fund to the Broadly Comparable Scheme on the Due Date an amount in respect of the Employee Transferring Members' service in the Fund before the Relevant Service Transfer Date calculated in accordance with the Actuary’s Letter and Regulation 9 of the LGPS Regulations.
Part 3 - Broadly Comparable Scheme Where this Part 3 applies pursuant to paragraph 7 of Part D of this Schedule, the following shall apply: JVCo shall or shall procure that any relevant Sub-Contractor shall not later than the Cessation Date nominate to the Customer in writing the occupational pension scheme or schemes which it proposes shall be the Broadly Comparable Scheme for the purposes of this part 3.
Part 4 of Part D of this Schedule (Bulk Transfer Terms) shall apply in relation to the terms for bulk transfers from the LGPS to the Broadly Comparable Scheme following the Cessation Date and any subsequent bulk transfers on termination or expiry of this Agreement.
Project Co shall procure that the Employer shall ensure that the Broadly Comparable Scheme provides benefits for each Employee Transferring Member which are equivalent to the assets transferred.
The provisions of paragraph 12 (Bulk Transfer Obligations in relation to any Broadly Comparable Scheme) below shall apply in relation to any Broadly Comparable scheme established by the Supplier or its Sub-Contractors.
If JVCo or any Sub-Contractor ceases to be a community admission body for the purposes of regulation 5(2)(g) of the Administration Regulations JVCo or any relevant Sub-Contractor shall use all reasonable endeavours to be readmitted as a transferee admission body for the purposes of regulation 6 of the Administration Regulations or provide a Broadly Comparable Scheme in accordance with Part 3 of Part D of this Schedule (Broadly Comparable Scheme).
Where the Broadly Comparable Scheme has not been established by the Transfer Date (or Cessation Date (as the case may be)) the NHS Participant Employees and the LGPS Participant 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 NHS Pension Scheme or the LGPS (as applicable) before the Transfer Date (or Cessation Date (as the case may be)).