Session 2014 - 15
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Other Bills before Parliament


Public Bill Committee:                               



, continued



For the purposes of this section, sums or assets held after the death of


a member of a registered pension scheme for the purposes of a money


purchase arrangement relating to the member under the scheme are


“relevant unused uncrystallised funds” if—



they are unused uncrystallised funds, and



the member had not reached the age of 75 at the date of the


member’s death.



Paragraph 27E(4) and (5) of Schedule 28 of FA 2004 (meaning of


“unused uncrystallised funds”) apply for the purposes of subsection





In section 579D (interpretation of sections 579A to 579D)—



at the appropriate places insert—


““nominees’ income withdrawal” has the meaning given by


paragraph 27D of that Schedule;”, and


““successors’ income withdrawal” has the meaning given by


paragraph 27J of Schedule 28 to FA 2004.”, and



in paragraph (b) of the definition of “pension under a registered


pension scheme” after “dependants’ income withdrawal” insert “, or


nominees’ income withdrawal or successors’ income withdrawal,”.



The amendments made by sub-paragraphs (2) to (5) have effect in relation to


pension paid on or after 6 April 2015.”


Member’s explanatory statement


This new Schedule provides that persons other than dependants can inherit unused drawdown


funds. For deaths before age 75, lump sum death benefits and flexi-access drawdown pensions


from these funds can be paid tax free, subject (for example) to the member having sufficient


available lifetime allowance.



Order of the House [29 October 2014]


That the following provisions shall apply to the Taxation of 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 20 November 2014.



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.


Public Bill Committee:                               



, continued


Other Proceedings



Any other proceedings on the Bill (including any proceedings on


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



Order of the Committee [11 November 2014]





the Committtee shall (in addition to its first meeting at 8.55 am on Tuesday


11 November) meet—



at 9.25 am and 2.00 pm on Tuesday 18 November; and



at 11.30 am and 2.00 pm pm Thursday 20 November;



the Committee shall hear oral evidence in accordance with the following










Tuesday 11

Until no later

Financial Conduct Authority; Financial



than 9.30 am

Services Consumer Panel


Tuesday 11

Until no later

Citizens Advice; Scottish Widows;



than 10:45 am

Legal & General; Association of


British Insurers


Tuesday 11

Until no later

Her Majesty’s Treasury



than 11.25 am



proceedings on consideration of the Bill in Committee shall be taken in the


following order: Clause 1; the Schedule; Clause 2; new Clauses; new


Schedules; Clause 3; remaining proceedings on the Bill;



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


conclusion at 5.00 pm on Thursday 20 November.


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Revised 18 November 2014