© 2019 Nationwide Sureties Ltd is authorised and regulated by The Financial Conduct Authority Firms Ref No 304552
Office address :-Nationwide Sureties Ltd, No.1 Old Hall Street, Liverpool L3 9HG,

Nationwide Sureties Ltd Registered in England. Co Number 3732977. View our Privacy Policy Here.
Registered office: 3rd Floor, Granite Buildings, 6 Stanley Street, Liverpool L1 6AF

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PENSION BONDS

Pension Bond Overview

In order to fulfil legal obligations under The Transfer of Undertakings (Protection of Employment) Regulations 2006, (TUPE) a firm may be required to place a bond in favour of a relevant government body.
Subject to certain qualifying conditions, the regulations apply:
When a business or undertaking, or part of one, is transferred to a new employer; or
service provision change takes place (for example, where a contractor takes on a contract to provide a service for a client from another contractor).

What is a Pension Bond?

The Pension Bond is a single premium investment that has no fixed term but is designed to be held for a minimum of 5 years.
This type of bond allows employees to move from the public to the private sector whilst remaining within the local government pension scheme.
Nationwide sureties Ltd offer a very quick turnaround service while keeping the process easy to understand by using as little jargon as possible.

Application Process

 

Nationwide sureties Ltd offer a very quick turnaround service while keeping the process easy to understand by using as little jargon as possible.

 

What We Require From You

 

Provide us the details of the particular operation which is the subject of the bond requirement, including bond amount and period for which it will be required, together with:
 

  • A copy of the bond wording required by relevant body
     

  • A copy of your last published audited accounts (if you are part of group, group accounts, too)
     

  • A copy of your latest management accounts
     

  • On receipt of this information, the application will be submitted to our panel of underwriters for their consideration. On the successful underwriting, we should be in a position to offer competitive non-binding indications of terms, as quickly as possible.

 

Once you have accepted our terms and provided any additional information requested, we will send you any legal documents that need to be executed (such as counter-indemnities) and an invoice for the premium.