RTMC Model Conditions of Contract - Highways Agency

Regional Technology Maintenance ContractConditions of Contractshall pay to the receiving scheme the amount of the differenceZ21.5 The Contractor procures that the Contractor’s Pension Plan willaccept a bulk transfer from the trustees or administrators of the ’sPension Scheme or the Original Scheme (as appropriate) on termsagreed between the actuary to the ’s Pension Scheme or the actuaryto the Original Scheme (as appropriate) and the Appointed Actuary inrespect of all of the Transferring Employees referred to in clauseZ21.1 who become members of the Contractor’s Pension Plan andrequests the trustees or administrators of the ’s Pension Scheme orthe Original Scheme to make such a transfer in respect of them. TheContractor further procures that, in the cases of TransferringEmployees in respect of whom a bulk transfer is made pursuant tothis clause Z21.5, the benefits granted under the Contractor’sPension Plan in respect of pensionable service before the accessdate are granted on the equivalent of a day for day service creditbasis or the actuarial equivalent thereof as agreed between theappropriate actuary and the Appointed Actuary.Z21.6 If any of the Transferring Employees referred to in clause Z21.1 hashis employment terminated by the Contractor for reasons ofredundancy or operational efficiency during the Service Period, theContractor (to the extent that the relevant benefit has not beenprovided under any other provision of this contract)• uses his best endeavours to procure that an amount, equivalent toany additional pension benefits which would have been paid to theTransferring Employee from the Original Scheme had heremained in service with his previous public sector employer andbeen made redundant by that employer on the date on which hisemployment is actually terminated by the Contractor, is paid fromthe Contractor’s Pension Plan,• in the event that the Contractor is unable to procure the additionalbenefits from the Contractor’s Pension Plan, pays compensationto the Transferring Employee which is equivalent in terms of valueand manner of payment to that which would have been paid fromthe Contractor’s Pension Plan and• procures the payment of any benefit other than on redundancy orfor reasons of operational efficiency which is not an old ageinvalidity or survivors’ benefit either through the relevantContractor’s pension scheme or, if that is not possible, by payingcompensation, where the obligation to do so has transferred to theContractor under TUPE, on the same basis as that which applieson redundancy.Z21.7 The Contractor ensures that any Transferring Employees whoimmediately before the access date are members of the OutgoingContractor’s (non-Government Actuary’s Department certified)pension scheme and who were not members of the Original Schemeautomatically become members of the Contractor’s AlternativePension Plan on and from the access date and (except in the caseof any such Transferring Employee who opts out of membership ofthe Contractor’s Alternative Pension Plan in writing in a formRTMC CoC, Issue 1, Rev 0 July 2011