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Public Bill Committee: 7 July 2011                     

44

 

Pensions Bill-[Lords], continued

 
 

(b)    

the requirement in subsection (4) or requirements prescribed

 

under subsection (6) (as appropriate), and

 

(c)    

any further requirements that are prescribed.

 

(2)    

The scheme must either—

 

(a)    

provide for a member to be entitled to a pension commencing at

 

the appropriate age and continuing for life, or

 

(b)    

provide for a sum of money to be made available for the

 

provision of benefits to a member commencing at the

 

appropriate age and continuing for life.

 

(3)    

The appropriate age is 65 or any higher age prescribed.

 

(4)    

In the case of a scheme that provides entitlement to a pension as

 

mentioned in subsection (2)(a), the annual rate of the pension at the

 

appropriate age must be—

 

(a)    

1/120th of average qualifying earnings in the last three tax years

 

preceding the end of pensionable service,

 

    

    multiplied by

 

(b)    

the number of years of pensionable service, up to a maximum of

 

40.

 

(5)    

Section 13(1) (qualifying earnings) applies for the purposes of subsection

 

(4) as if the reference to a pay reference period were a reference to a tax

 

year.

 

(6)    

In the case of a scheme that provides for a sum of money to be made

 

available as mentioned in subsection (2)(b), regulations must prescribe

 

requirements relating to that sum.”’.

 


 

Certification for non-UK schemes

 

Steve Webb

 

NC2

 

To move the following Clause:—

 

‘(1)    

Section 28 of the 2008 Act is amended as follows.

 

(2)    

After subsection (3) insert—

 

“(3A)    

This section also applies to—

 

(a)    

a money purchase scheme that is an occupational pension

 

scheme within section 18(b);

 

(b)    

a personal pension scheme of a prescribed description for which

 

provision is made under section 27;

 

(c)    

a hybrid scheme that is an occupational pension scheme within

 

section 18(b), to the extent prescribed.”

 

(3)    

In subsection (4) at the end insert—

 

“(d)    

for a scheme within subsection (3A), means a prescribed

 

requirement.”

 

(4)    

In paragraphs (e) and (f) of subsection (6) for “section 26 agreements” substitute

 

“contribution agreements”.


 
 

Public Bill Committee: 7 July 2011                     

45

 

Pensions Bill-[Lords], continued

 
 

(5)    

In subsection (8)—

 

(a)    

for ““section 26 agreements” means the agreement” substitute

 

““contribution agreements” means—

 

(a)    

the agreement”;

 

(b)    

at the end insert “, or

 

(b)    

any agreement of the same or a similar kind that is

 

required, in the case of a scheme within subsection

 

(3A)(b), by regulations under section 27.”’.

 


 

Power to exempt certain cross-border employment from enrolment duty

 

Steve Webb

 

NC4

 

To move the following Clause:—

 

‘In Part 7 of the Pensions Act 2004 (cross-border activities within European

 

Union) after section 292 insert—

 

“292A

  Exemption from enrolment duty under Part 1 of Pensions Act 2008

 

Regulations may provide for section 2(1), 3(2), 5(2), 7(3), 9(2) or 54 of

 

the Pensions Act 2008 (employer’s obligations regarding membership of

 

a qualifying scheme) not to apply in relation to a person’s employment

 

of—

 

(a)    

an individual in relation to whom the person is a European

 

employer, or

 

(b)    

someone whom the person reasonably believes to be such an

 

individual.”’.

 


 

Steve Webb

 

10

 

Clause  17,  page  13,  line  23,  after ‘period’, insert ‘on or after that day’.

 

Steve Webb

 

11

 

Clause  17,  page  13,  line  41,  after ‘(3)(b)’, insert ‘includes a promise that’.

 

Steve Webb

 

12

 

Clause  17,  page  13,  line  42,  leave out ‘includes a promise that’.

 

Steve Webb

 

13

 

Clause  17,  page  13,  line  44,  leave out from beginning to end of line 4 on page 14

 

and insert—

 

‘(b)    

the rate or amount of a benefit will represent a particular proportion of the

 

available sum.’.


 
 

Public Bill Committee: 7 July 2011                     

46

 

Pensions Bill-[Lords], continued

 
 

Steve Webb

 

14

 

Clause  17,  page  14,  line  4,  at end insert—

 

‘( )    

But a pension is not prevented from being a cash balance benefit merely because

 

under the scheme there is a promise that—

 

(a)    

the rate or amount of a benefit payable in respect of a deceased member

 

will be a particular proportion of the rate or amount of a benefit which

 

was (or would have been) payable to the member;

 

(b)    

the amount of a lump sum payable to a member, or in respect of a

 

deceased member, will represent a particular proportion of the available

 

sum.’.

 


 

Remaining new Clause

 

Allied Steel and Wire

 

Hywel Williams

 

NC5

 

Parliamentary Star    

To move the following Clause:—

 

‘(1)    

The Secretary of State shall commission a review of measures enabled to help

 

former employees of Allied Steel and Wire.

 

(2)    

The review should be written by an independent board of experts with the aim of

 

ensuring the best treatment of former employees of Allied Steel and Wire and will

 

make recommendations for future support for former employees.

 

(3)    

This review should be conducted and report back within six months of Royal

 

Assent.’.

 


 

Steve Webb

 

15

 

Clause  30,  page  19,  line  20,  leave out subsection (2).

 

 

Order of the House [20 JUNE 2011]

 

That the following provisions shall apply to the Pensions Bill [Lords]—

 

Committal

 

1.    

The Bill shall be committed to a Public Bill Committee.

 

Proceedings in Public Bill Committee

 

2.    

Proceedings in the Public Bill Committee shall (so far as not previously

 

concluded) be brought to a conclusion on Tuesday 19 July 2011.

 

3.    

The Public Bill Committee shall have leave to sit twice on the first day on

 

which it meets.


 
 

Public Bill Committee: 7 July 2011                     

47

 

Pensions Bill-[Lords], continued

 
 

Consideration and Third Reading

 

4.    

Proceedings on consideration shall (so far as not previously concluded) be

 

brought to a conclusion one hour before the moment of interruption on the

 

day on which those proceedings are commenced.

 

5.    

Proceedings on Third Reading shall (so far as not previously concluded) be

 

brought to a conclusion at the moment of interruption on that day.

 

6.    

Standing Order No. 83B (Programming committees) shall not apply to

 

proceedings on consideration and Third Reading.

 

Other proceedings

 

7.    

Any other proceedings on the Bill (including any proceedings on

 

consideration of any message from the Lords) may be programmed.

 

 

Order of the Committee [5 July 2011]

 

That—

 

(1)  

the Committee shall (in addition to its first meeting at 10.30 am on Tuesday

 

5 July) meet—

 

(a)  

at 4.00 pm on Tuesday 5 July;

 

(b)  

at 9.00 am and 1.00 pm on Thursday 7 July;

 

(c)  

at 10.30 am and 4.00 pm on Tuesday 12 July;

 

(d)  

at 9.00 am and 1.00 pm on Thursday 14 July;

 

(e)  

at 10.30 am and 4.00 pm on Tuesday 19 July;

 

(2)  

the proceedings shall be taken in the following order: Clause 1; Schedule 1;

 

Clause 2; Schedule 2; Clause 3; Schedule 3; new Clauses relating to Part 1;

 

new Schedules relating to Part 1; Clauses 4 to 14; new Clauses relating to Part

 

2; new Schedules relating to Part 2; Clauses 15 to 18; Schedule 4; Clauses 19

 

to 24; new Clauses relating to Part 3; new Schedules relating to Part 3; Clause

 

25; Schedule 5; new Clauses relating to Part 4; new Schedules relating to Part

 

4; Clauses 26 and 27; remaining new Clauses; remaining new Schedules;

 

Clauses 28 to 30; remaining proceedings on the Bill;

 

(3)  

the proceedings shall (so far as not previously concluded) be brought to a

 

conclusion at 7.00 pm on Tuesday 19 July.

 


 
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