TSA leaves an expensive legacy
The report that the Tenant Services Authority’s pension liabilities have increased by £25 million since December 2008. For an organisation of just under 250 employees that’s amazing.
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The report that the Tenant Services Authority’s pension liabilities have increased by £25 million since December 2008. For an organisation of just under 250 employees that’s amazing.
The TSA’s annual report states: ‘Should the TSA be dissolved, the secretary of state will ensure through such legislation (or secondary legislation made under it) the transfer of all the liabilities of the TSA that relate to the pension fund to the Communities and Local Government department (or to its successor department) which will then be legally responsible for the discharge of those liabilities. Alternatively, the secretary of state may, with the written consent of the administering authority, transfer of all the liabilities of the TSA that relate to the fund to any new body which replaces it.’
That’s quite a dowry.
Geoff Buck