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Consideration of Bill: 18 October 2011                  

3508

 

Pensions Bill [Lords] continued

 
 

(a)    

its provision to or in respect of the director is secured by an

 

annuity contract or insurance policy made or taken out with an

 

insurer, and

 

(b)    

at all times before coming into payment the pension was a

 

benefit falling within this paragraph by virtue of sub-

 

paragraph (2).

 

      (4)  

For the purposes of sub-paragraph (2) it is immaterial if the calculation

 

of the rate or amount of the benefit includes deductions for

 

administrative expenses or commission.

 

      (5)  

In this paragraph references to a pension do not include income

 

withdrawal or dependants’ income withdrawal (within the meaning of

 

paragraphs 7 and 21 of Schedule 28 to the Finance Act 2004).”

 

(7)    

The amendments made by subsections (1) and (2) are to be regarded as having

 

come into force on 1 January 1997.

 

(8)    

The amendments made by subsections (3) and (4) are to be regarded as having

 

come into force at the same time as section 99 of the Pensions Act 2008.’

 


 

Transitional

 

Secretary Iain Duncan Smith

 

NC4

 

To move the following Clause:—

 

‘(1)    

The Secretary of State may by regulations make transitional provision in relation

 

to the coming into force of the amendments in section [Definition of money

 

purchase benefits].

 

(2)    

That provision includes in particular—

 

(a)    

provision disapplying the amendments in section [Definition of money

 

purchase benefits] in relation to an occupational or personal pension

 

scheme which is wound up before the coming into force of that section;

 

(b)    

provision disapplying the amendments in section [Definition of money

 

purchase benefits] to any extent, or as regards any period, in respect of

 

an occupational or personal pension scheme in relation to which those

 

amendments would otherwise have applied on the coming into force of

 

that section;

 

(c)    

provision modifying the application of an enactment in respect of an

 

occupational or personal pension scheme in relation to which the

 

amendments in section [Definition of money purchase benefits] apply on

 

the coming into force of that section;

 

(d)    

provision requiring trustees or managers of an occupational pension

 

scheme in relation to which the amendments in section [Definition of

 

money purchase benefits] apply on the coming into force of that section

 

to obtain an actuarial valuation of a description specified in the

 

regulations.

 

(3)    

In subsection (2) “occupational pension scheme” and “personal pension scheme”

 

have the meanings given by section 1 of the Pension Schemes Act 1993.’

 



 
 

Consideration of Bill: 18 October 2011                  

3509

 

Pensions Bill [Lords] continued

 
 

Consequential and supplementary

 

Secretary Iain Duncan Smith

 

NC5

 

To move the following Clause:—

 

‘(1)    

The Secretary of State may by regulations make consequential or supplementary

 

provision in relation to the amendments made by section [Definition of money

 

purchase benefits].

 

(2)    

In section 307 of the Pensions Act 2004 (modification of Act) in subsection (2)

 

after paragraph (b) insert—

 

“(ba)    

Part 3 (scheme funding),”.’

 


 

Power to make further provision

 

Secretary Iain Duncan Smith

 

NC6

 

To move the following Clause:—

 

‘(1)    

The Secretary of State may by regulations amend for any purpose the definition

 

of “money purchase benefit” in the Pension Schemes Act 1993, the Pensions Act

 

2008 or Schedule 10A to the Building Societies Act 1986.

 

(2)    

Regulations under subsection (1) may in particular amend the provisions inserted

 

by section [Definition of money purchase benefits] above).

 

(3)    

Regulations under this section may include transitional, consequential or

 

supplementary provision.’

 


 

Regulations

 

Secretary Iain Duncan Smith

 

NC7

 

To move the following Clause:—

 

‘(1)    

Regulations under this Part may—

 

(a)    

make different provision for different cases (including different

 

provision for pension schemes of different descriptions);

 

(b)    

provide for a person to exercise a discretion in dealing with any matter;

 

(c)    

amend Acts (as well as other enactments);

 

(d)    

have retrospective effect.

 

(2)    

Regulations under this Part must be made by statutory instrument.

 

(3)    

A statutory instrument containing regulations under this Part which amend an Act

 

may not be made unless a draft of the instrument has been laid before, and

 

approved by resolution of, each House of Parliament.


 
 

Consideration of Bill: 18 October 2011                  

3510

 

Pensions Bill [Lords] continued

 
 

(4)    

A statutory instrument containing any other regulations under this Part is subject

 

to annulment in pursuance of a resolution of either House of Parliament.’

 


 

Remaining new clause

 

Uprating of the state pensions

 

Hywel Williams

 

NC8

 

To move the following Clause:—

 

‘Section 150 of the Social Security Administration Act 1992 is amended as

 

follows—

 

After subsection (2)(a), insert—

 

“(aa)    

that the general level of prices assessed by the Secretary of State

 

shall include both the Retail Prices Index and the Consumer

 

Prices Index, and the higher of the two indices must be used to

 

calculate the annual uprating of the state pensions; and”.’.

 


 

Secretary Iain Duncan Smith

 

17

 

Page  22,  line  1  [Clause  32],  at end insert—

 

‘( )    

sections [Transitional] to [Regulations];’.

 

 

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.

 

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.


 
 

Consideration of Bill: 18 October 2011                  

3511

 

Pensions Bill [Lords] continued

 
 

Other proceedings

 

7.    

Any other proceedings on the Bill (including any proceedings on

 

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

 

 

Pensions Bill [Lords] (Programme) (No. 2)

 

Secretary Iain Duncan Smith

 

That the Order of 20 June 2011 (Pensions Bill [Lords] (Programme)) be varied as

 

follows—

 

1.    

Paragraphs 4 and 5 of the Order shall be omitted.

 

2.    

Proceedings on consideration shall be taken in the order shown in the first

 

column of the following Table.

 

3.    

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

 

conclusion at the times specified in the second column of the Table.

 

 

TABLE

 

Proceedings

Time for conclusion of

 
  

proceedings

 
 

Amendments to Clause 1 and Schedule 1 and New

7.45 pm at today’s sitting

 
 

Clauses relating to state pension age

  
 

New Clauses relating to Part 2; amendments to Clauses 4

9 pm at today’s sitting

 
 

to 17; New Clauses relating to the meaning of “money

  
 

purchase benefits”; remaining New Clauses; amendments

  
 

to Clauses 2, 3 and 18 to 33; New Schedules;

  
 

amendments to Schedules 2 to 5; remaining proceedings

  
 

on consideration

  
 

4.    

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

 

brought to a conclusion at 10 pm at today’s sitting.

 


 
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Revised 18 October 2011