Osborne Clarke advises The Environment Agency Pension Fund

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International law firm, Osborne Clarke has advised the Environment Agency Pension Fund on the impact of the transfer of services to an Independent Shared Services Centre operated by Shared Services Connected Limited (SSCL), a joint venture between Cabinet Office and Steria Limited in a contract that is potentially worth in excess of £1bn over 10 years.

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"As public sector pensions law experts Osborne Clarke are well positioned to work with the Environment Agency Pension Fund and the Cabinet Office in this key milestone in the Government’s Civil Service Reform Plan.

Osborne Clarke was responsible for assessing the key pension risks for the Environment Agency during a short outsourcing process from tender to completion.

This involved the preparation and negotiation of an admission agreement admitting the joint venture company to the Environment Agency Pension Fund against a backdrop of changing public sector pension legislation including the introduction of the Public Service Pensions Act 2013 and the Treasury’s revised Fair Deal guidance issued in October 2013.

The Osborne Clarke team was led by Partner Mark Womersley and Associate Director Daragh McGinty.

Daragh McGinty comments:
"As public sector pensions law experts Osborne Clarke are well positioned to work with the Environment Agency Pension Fund and the Cabinet Office in this key milestone in the Government’s Civil Service Reform Plan.

"The recent reforms to the Government’s Fair Deal public sector pensions policy opens up public service pension schemes to contractors. This should simplify and reduce the pensions liabilities associated with projects like these making them more attractive to private sector bidders."

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Lizzie Baker
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