House of Commons Amendments

Session 2010 - 12
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Other Bills before Parliament

Notices of Amendments: 1 July 2011
20

Pensions Bill [Lords] continued

Steve Webb

4

Clause  4,  page  4,  leave out line 21 and insert ‘(4)—

(a)
in paragraph (a) omit “at any time after the jobholder’s automatic

enrolment date,”;

(b)
in that paragraph omit “or a qualifying scheme of which the jobholder is

an active member ceases to be such a scheme”;

(c)
in paragraph (b) omit “or the employer”;

(d)
in paragraph (c) for “time” substitute “event”.’.

Steve Webb

5

Clause  4,  page  4,  line  22,  leave out from ‘(inducements)’ to end of line 23 and

insert—

‘(a)
in subsection (1)(a) for “within the period prescribed under section 2(3)”

substitute “with effect from—

(i)
the day after the membership is given up, or

(ii)
a day within the prescribed period (if a period is

prescribed)”;

(b)
in subsection (1)(b) for “within the period prescribed under section 2(3)”

substitute “with effect from—

(i)
the day on which the jobholder became an active

member of the scheme to which the notice

relates, or

(ii)
a day within the prescribed period (if a period is

prescribed)”.’.

Steve Webb

6

Clause  5,  page  4,  line  39,  leave out from beginning to end of line 14 on page 5 and

insert—

‘“(1)
This section applies to a jobholder—

(a)
who is aged at least 22,

(b)
who has not reached pensionable age, and

(c)
to whom earnings of more than £7,475 are payable by the

employer in the relevant pay reference period (see section 15).”’.

Steve Webb

7

Clause  6,  page  6,  line  32,  at end insert—

‘( )
In section 5 of the 2008 Act (automatic re-enrolment) omit subsection (5).’.

Notices of Amendments: 1 July 2011
21

Pensions Bill [Lords] continued

Steve Webb

8

Clause  8,  page  7,  line  22,  leave out ‘5(1)(a)’ and insert ‘5(1)(c)’.

Steve Webb

9

Clause  10,  page  8,  line  25,  leave out subsection (2) and insert—

‘(2)
For the heading substitute “Certification that quality requirement or

alternative requirement is satisfied”.

New Clauses relating to Part 2

Test scheme standard for schemes that produce sum of money for provision of benefits

Steve Webb

NC1

To move the following Clause:—

‘(1)
In section 22 of the 2008 Act (test scheme standard) after subsection (7) insert—

“(8)
In the case of a scheme under which a sum of money is made available

for the provision of benefits to a relevant member, references in this

section to pensions are to be read as references to such sums.”

(2)
For section 23 of the 2008 Act substitute—

“23
Test scheme

(1)
A test scheme is an occupational pension scheme which satisfies—

(a)
the requirement in subsection (2),

(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

Notices of Amendments: 1 July 2011
22

Pensions Bill [Lords] continued

(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”.

(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.”’.

Steve Webb

10

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

Notices of Amendments: 1 July 2011
23

Pensions Bill [Lords] continued

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.’.

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.’.

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.

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.

Notices of Amendments: 1 July 2011
24

Pensions Bill [Lords] continued

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.



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