There is a fundamental tension between authorities and contractors in allocating pensions risk.Authorities should address risk allocation at the outset of the bid process, to achieve best value for council taxpayers and comply with procurement rules. Contractors will, if permitted, seek to defer consideration of pensions to preferred bidder stage, when authorities have far less leverage.Accepting funding risk - for matters not under the contractor's control - can represent best value for authorities.
展开▼
