Session 2013 - 14
Internet Publications
Other Bills before Parliament




House of Commons


Monday 17 March 2014


Consideration of Lords Amendments


Pensions Bill


On Consideration of Lords Amendments to the Pensions Bill



Lords Amendment No. 1


Secretary Iain Duncan Smith


To move, That this House disagrees with the Lords in their Amendment.


Gregg McClymont


To move, That this House agrees with the Lords in their Amendment.




Lords Amendment No. 9


As an Amendment to the Lords Amendment:—


Gregg McClymont




Line  31,  leave out subsection (2) and insert—



The Secretary of State shall by regulations make provision to require disclosure,


at least annually, of the management and transaction charges incurred by each


investment portfolio managed by or on behalf of a work-based scheme.



Regulations under subsections (1) and (2) may provide for the disclosure of—



fees and performance fees paid to investment managers;



commissions and bid offer spreads paid to brokers;



bid-offer spreads paid to foreign exchange counterparties;



fees, revenue splits and bid-offer spreads paid to custodian banks;


Consideration of Lords Amendments: 17 March 2014          



Pensions Bill, continued



interest on cash balances and profits from stock lending retained by fund





transaction costs in underlying funds;



fees paid to in-house or third party scheme administrators;



fees paid to professional advisors (eg actuaries, legal advisers, auditors,


investment consultants etc.);



initial charges, bid-offer spreads, exit charges, other fees and rebates


charged on investments in pooled funds; and



any other management and transaction charges that the Secretary of State


from time to time considers appropriate.



The Secretary of State must lay before Parliament regulations to restrict such


management and transaction charges no later than 30 April 2015.’.




Order of the House [17 June 2013]


That the following provisions shall apply to the Pensions Bill:





The Bill shall be committed to a Public Bill Committee.


Proceedings in Public Bill Committee



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


concluded) be brought to a conclusion on Thursday 11 July 2013.



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


which it meets.


Consideration and Third Reading



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.



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


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



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


proceedings on Consideration and Third Reading.


Other proceedings



Any other proceedings on the Bill (including any proceedings on


consideration of Lords Amendments or on any further messages from the


Lords) may be programmed.



© Parliamentary copyright
Revised 17 March 2014