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| | Public Service Pensions Bill
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| | [Third and Fourth Sittings]
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| | Schedule 1, page 22, line 29, at end insert ‘and of the Police Service of Northern |
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| | Ireland Reserve, police trainees, police reserve trainees and police cadets’. |
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| | | Schedule, as amended, Agreed to. |
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| | Clause 22, page 12, line 35, at end insert— |
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| | | ‘(10) | When scheme regulations make provision under this section for the participation |
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| | | of persons not in public service, the relevant responsible authority shall calculate |
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| | | (a) | the cost to the scheme of participation by those persons not in public |
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| | | (b) | how those costs will be funded.’. |
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| | Clause 3, page 2, line 8, after second ‘different’ insert ‘purposes or’. |
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| | Clause 3, page 2, line 13, at end insert— |
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| | | ‘(3A) | Scheme regulations shall not make any provision which would have the effect of |
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| | | reducing the amount of any pension, allowance or gratuity, insofar as that amount |
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| | | is directly or indirectly referable to rights which have accrued (whether by virtue |
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| | | of service rendered, contributions paid or any other thing done) before the coming |
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| | | into operation of the scheme, unless the persons specified in subsection (3B) have |
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| | | agreed to the inclusion of that provision. |
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| | | (3B) | The persons referred to in subsection (3A) are the persons or representatives of |
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| | | the persons who appear to the responsible authority to be likely to be affected by |
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| | | the regulations if they were made.’. |
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| | | Clause, as amended, Agreed to. |
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| | Clause 4, page 2, line 38, at end insert— |
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| | | ‘( ) | Subsection (1) does not apply to a scheme under section 1 which is an injury or |
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| | Clause 4, page 2, line 38, at end insert— |
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| | | ‘( ) | Scheme regulations may comply with the requirement in subsection (1)(a) or (b) |
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| | | by providing for different persons to be responsible for managing or |
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| | | administering different parts of a scheme (and references in this Act to the |
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| | | “scheme manager”, in such a case, are to be construed accordingly).’. |
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| | | Clause, as amended, Agreed to. |
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| | Clause 5, page 3, line 4, leave out ‘following’ and insert ‘in subsection (2). |
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| | | (1A) | Regulations shall provide for the establishment of a pensions board for each |
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| | | individual pension fund which makes provision for local government workers.’. |
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| | Clause 5, page 3, line 8, at end insert— |
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| | | ‘(b) | oversight of financial management of the scheme and, in the case of |
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| | | funded schemes, oversight of investment management.’. |
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| | Clause 5, page 3, line 16, at end insert— |
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| | | ‘(i) | to publish a policy governing the appointment of board |
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| | Clause 5, page 3, line 24, at end insert— |
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| | | ‘(c) | requiring that at least one third of pension board members are nominated |
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| | | by members of the scheme; and |
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| | | (d) | requiring that at least one member of the pension board is an independent |
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| | Clause 5, page 3, line 29, at end insert— |
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| | | ‘(5A) | For a board member to be nominated by scheme members under subsection 4(c) |
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| | | (a) | be nominated as the result of a process in which at least the following are |
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| | | (i) | all the active members of the scheme or an organisation which |
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| | | adequately represents the active members, and |
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| | | (ii) | all the pensioner members of the scheme or an organisation |
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| | | which adequately represents the pensioner members, and |
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| | | (b) | be selected as a result of a process which involves some or all of the |
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| | | (5B) | In subsection 4(d) an “independent board member” is a board member who— |
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| | | (a) | has no interest in the assets of the scheme or of the scheme employer or |
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| | | (b) | is neither connected with, nor an associate of, the employer or |
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| | Clause 5, page 3, line 30, leave out subsection (6) and insert— |
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| | | ‘(6) | Where the scheme manager of a scheme under section 1 is a committee of a local |
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| | | authority, the scheme regulations may provide for that committee also to be the |
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| | | board for the purposes of this section.’. |
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| | Clause 5, page 3, line 35, leave out from ‘(6)’ to end of line 41 and insert ‘“local |
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| | | (a) | a local authority in England and Wales within the meaning of Part 1 of |
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| | | the Local Government and Housing Act 1989;’. |
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| | Clause 5, page 3, line 46, at end insert— |
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| | | ‘( ) | This section does not apply to a scheme under section 1 which is an injury or |
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| | | Clause, as amended, Agreed to. |
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| | Clause 6, page 4, line 8, at end insert— |
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| | | ‘( ) | This section does not apply to a scheme under section 1 which is an injury or |
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| | | Clause, as amended, Agreed to. |
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| | Clause 13, page 8, line 14, leave out subsection (1) and insert— |
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| | | ‘(1) | The Treasury shall make directions requiring the scheme manager or responsible |
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| | | authority of a scheme under section 1 to publish scheme information. |
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| | | (1A) | The Treasury may make directions requiring the scheme manager or responsible |
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| | | authority of a scheme under section 1 to provide scheme information to the |
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| | Clause 13, page 8, leave out lines 20 and 21 and insert ‘Scheme information under |
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| | subsection (1) shall include, but is not limited to, the following:’. |
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| | Clause 13, page 8, line 26, at end insert— |
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| | | ‘(f) | full valuation reports. |
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| | | (3A) | The Treasury may make provision for scheme information to be provided in a |
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| | Clause 13, page 8, line 28, at end insert— |
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| | | ‘(4A) | The Office of Budget Responsibility shall report at regular intervals specified by |
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| | | the Treasury on the long-term fiscal impact of public service pension schemes.’. |
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