More employers are seeking alternative ways to generate income. In response to austerity measures, local authorities now outsource a myriad of their services to the third and private sectors. Although public sector outsourcing provides an opportunity to generate income, any profit can quickly be diminished by pension risk. Worse still, pension risk can threaten the existence of an organisation.
If staff from a local authority are transferred to an employer under the Transfer of Undertakings (TUPE) regulations, the new employer is required to offer them a broadly comparable pension arrangement. In real terms, this translates to a lot of money (and risk), which employers are not considering.
Identify Pension Risk
GJH Pensions can help you identify pension risk, before offering recommendations and solutions to how best mitigate the threat associated with pensions and TUPE.
Contact GJH Pensions today for a free consultation on 07446 148 537 or email firstname.lastname@example.org.