Jurisdiction(s):
United Kingdom

Key definition

PF2 definition

What does PF2 mean? PF2 (private finance 2) describes a public‑private partnership procurement approach used in the UK to deliver public infrastructure through long‑term, privately financed DBFM/DBFOM contracts paid by a unitary charge. The label comes from HM Treasury guidance (not legislation or case law) issued following a 2012 consultation. As the successor to pfi, PF2 retained private financing and risk transfer but introduced: public sector minority equity co‑investment in the project company; removal of “soft” facilities management from scope; enhanced transparency and open‑book reporting; standardised contract terms; and adjusted refinancing gain‑sharing and performance mechanisms. Use was concentrated in UK central government, principally...

TUPE 2006 and PF2/PPP projects: application, service provision changes, secondments, information duties, warranties, indemnities and termination

Published by a LexisNexis Local Government expert

Practice notes

ARCHIVED: This Practice Note has been archived and is no longer maintained or updated.

TUPE 2006, PF2s and other PPPs

Public/private partnership (PPP) projects, including Private Finance 2 (PF2) initiatives, may involve transfers of undertakings and changes to service provision that fall within the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE 2006), SI 2006/246. TUPE 2006 was revised in several aspects, including service provision changes, by the Collective Redundancies and Transfer of Undertakings (Protection of Employment) (Amendment) Regulations 2014, SI 2014/16. Where it is uncertain whether TUPE 2006 applies as a strict matter of law, wider political pressures often, in practice, lead the parties to proceed on the basis that it does, which is frequently reflected in the project documentation itself.

Guidance on staff transfers in the public sector

Alongside meeting the statutory duties in full under TUPE 2006 (as amended), public sector bodies have additional requirements to adhere to, for example the Cabinet Office Statement on Staff Transfers in the Public Sector. The Government’s policy regarding civil service pensions in transfer scenarios is set out in Fair Deal for Staff Pensions: Staff Transfers from Central Government...

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Web page updated on 22/05/2026

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