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| | Secretary Iain Duncan Smith |
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| | To move the following Clause:— |
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| | | ‘(1) | The Secretary of State may by regulations make transitional provision in relation |
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| | | to the coming into force of the amendments in section [Definition of money |
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| | | (2) | That provision includes in particular— |
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| | | (a) | provision disapplying the amendments in section [Definition of money |
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| | | purchase benefits] in relation to an occupational or personal pension |
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| | | scheme which is wound up before the coming into force of that section; |
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| | | (b) | provision disapplying the amendments in section [Definition of money |
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| | | purchase benefits] to any extent, or as regards any period, in respect of |
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| | | an occupational or personal pension scheme in relation to which those |
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| | | amendments would otherwise have applied on the coming into force of |
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| | | (c) | provision modifying the application of an enactment in respect of an |
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| | | occupational or personal pension scheme in relation to which the |
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| | | amendments in section [Definition of money purchase benefits] apply on |
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| | | the coming into force of that section; |
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| | | (d) | provision requiring trustees or managers of an occupational pension |
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| | | scheme in relation to which the amendments in section [Definition of |
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| | | money purchase benefits] apply on the coming into force of that section |
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| | | to obtain an actuarial valuation of a description specified in the |
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| | | (3) | In subsection (2) “occupational pension scheme” and “personal pension scheme” |
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| | | have the meanings given by section 1 of the Pension Schemes Act 1993.’ |
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| | | Consequential and supplementary |
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| | Secretary Iain Duncan Smith |
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| | To move the following Clause:— |
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| | | ‘(1) | The Secretary of State may by regulations make consequential or supplementary |
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| | | provision in relation to the amendments made by section [Definition of money |
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| | | (2) | In section 307 of the Pensions Act 2004 (modification of Act) in subsection (2) |
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| | | after paragraph (b) insert— |
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| | | “(ba) | Part 3 (scheme funding),”.’ |
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| | | Power to make further provision |
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| | Secretary Iain Duncan Smith |
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| | To move the following Clause:— |
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| | | ‘(1) | The Secretary of State may by regulations amend for any purpose the definition |
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| | | of “money purchase benefit” in the Pension Schemes Act 1993, the Pensions Act |
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| | | 2008 or Schedule 10A to the Building Societies Act 1986. |
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| | | (2) | Regulations under subsection (1) may in particular amend the provisions inserted |
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| | | by section [Definition of money purchase benefits] above). |
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| | | (3) | Regulations under this section may include transitional, consequential or |
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| | | supplementary provision.’ |
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| | Secretary Iain Duncan Smith |
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| | To move the following Clause:— |
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| | | ‘(1) | Regulations under this Part may— |
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| | | (a) | make different provision for different cases (including different |
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| | | provision for pension schemes of different descriptions); |
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| | | (b) | provide for a person to exercise a discretion in dealing with any matter; |
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| | | (c) | amend Acts (as well as other enactments); |
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| | | (d) | have retrospective effect. |
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| | | (2) | Regulations under this Part must be made by statutory instrument. |
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| | | (3) | A statutory instrument containing regulations under this Part which amend an Act |
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| | | may not be made unless a draft of the instrument has been laid before, and |
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| | | approved by resolution of, each House of Parliament. |
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| | | (4) | A statutory instrument containing any other regulations under this Part is subject |
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| | | to annulment in pursuance of a resolution of either House of Parliament.’ |
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| | | Uprating of the state pensions |
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| | To move the following Clause:— |
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| | | ‘Section 150 of the Social Security Administration Act 1992 is amended as |
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| | | After subsection (2)(a), insert— |
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| | | “(aa) | that the general level of prices assessed by the Secretary of State |
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| | | shall include both the Retail Prices Index and the Consumer |
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| | | Prices Index, and the higher of the two indices must be used to |
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| | | calculate the annual uprating of the state pensions; and”.’. |
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| | Secretary Iain Duncan Smith |
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| | Page 22, line 1 [Clause 32], at end insert— |
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| | | ‘( ) | sections [Transitional] to [Regulations];’. |
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| | | Bill read the third time on division and passed with amendments. |
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