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surplus),”

 

Secretary Iain Duncan Smith

 

Agreed to  7

 

Clause  22,  page  9,  line  24,  after “in” insert “the following—

 

(a)    

”

 

Secretary Iain Duncan Smith

 

Agreed to  8

 

Clause  22,  page  9,  line  25,  leave out “93A(1ZB)” and insert “93A(3)”

 

Secretary Iain Duncan Smith

 

Agreed to  9

 

Clause  22,  page  9,  line  25,  at end insert—

 

“(b)    

section 101H(1) of that Act;

 

(c)    

section 29(2) and (3) of the Welfare Reform and Pensions Act 1999;

 

(d)    

any other provision specified in regulations.”

 

Secretary Iain Duncan Smith

 

Agreed to  10

 

Clause  22,  page  9,  line  26,  leave out “The regulations” and insert “Regulations

 

under subsection (1)”

 

Secretary Iain Duncan Smith

 

Agreed to  11

 

Clause  22,  page  9,  line  29,  after “97” insert “or 101I”

 

Secretary Iain Duncan Smith

 

Agreed to  12

 

Clause  22,  page  9,  line  30,  at end insert “or section 30 of the Welfare Reform and

 

Pensions Act 1999 or any other specified requirements”

 

Secretary Iain Duncan Smith

 

Agreed to  13

 

Clause  22,  page  9,  line  31,  at end insert—

 

“( )    

set out matters that the trustees or managers must take into account, or

 

principles they must follow, in formulating the policy;”

 

Secretary Iain Duncan Smith

 

Agreed to  14

 

Clause  23,  page  9,  line  34,  at end insert—

 

“( )    

Regulations may make provision about the winding up of a pension scheme under

 

which collective benefits may be provided or part of such a scheme.

 

( )    

The regulations may, in particular, make provision about—

 

(a)    

the  distribution of assets (including any order of priority);

 
 

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306

 

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(b)    

the operation of the scheme during winding up;

 

(c)    

the discharge of liabilities;

 

(d)    

excess assets on winding up.”

 

Secretary Iain Duncan Smith

 

Agreed to  15

 

Clause  23,  page  9,  line  35,  at the beginning insert “The”

 

Secretary Iain Duncan Smith

 

Agreed to  16

 

Clause  23,  page  9,  line  35,  after “may” insert “, in particular”

 

Secretary Iain Duncan Smith

 

Agreed to  17

 

Clause  23,  page  9,  line  36,  leave out “modify” and insert “amend or otherwise

 

modify”

 

Secretary Iain Duncan Smith

 

Agreed to  18

 

Clause  23,  page  9,  line  36,  after “sections” insert “38,”

 

Secretary Iain Duncan Smith

 

Agreed to  19

 

Clause  23,  page  9,  line  36,  leave out “and 74” and insert “, 74 and 76”

 

Secretary Iain Duncan Smith

 

Agreed to  20

 

Clause  23,  page  9,  line  37,  leave out “in relation to collective benefits”

 

Secretary Iain Duncan Smith

 

Agreed to  21

 

Clause  23,  page  9,  line  39,  leave out “in relation to collective benefits”

 

Secretary Iain Duncan Smith

 

Agreed to  22

 

Clause  24,  page  10,  line  5,  leave out “required by regulations under this Part”

 

Secretary Iain Duncan Smith

 

Agreed to  23

 

Clause  29,  page  10,  line  34,  at end insert—

 

““deficit”, in respect of a collective benefit, has the meaning given by

 

section 19 (but this definition does not apply in section 20, which

 

contains its own definition);”

 
 

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Secretary Iain Duncan Smith

 

Agreed to  24

 

Clause  29,  page  10,  line  38,  at end insert—

 

““regulations” means regulations made by the Secretary of State;”

 

Secretary Iain Duncan Smith

 

Agreed to  25

 

Clause  29,  page  11,  line  2,  at end insert—

 

““surplus”, in respect of a collective benefit, has the meaning given by

 

section 19;”

 

Secretary Iain Duncan Smith

 

Agreed to  26

 

Clause  30,  page  11,  line  17,  leave out “Regulations may” and insert “The Secretary

 

of State may by regulations”

 

Secretary Iain Duncan Smith

 

Agreed to  27

 

Clause  31,  page  11,  line  40,  leave out “Regulations may” and insert “The Secretary

 

of State may by regulations”

 

Secretary Iain Duncan Smith

 

Agreed to  28

 

Page  14,  line  26,  leave out Clause 35

 

Secretary Iain Duncan Smith

 

Agreed to  29

 

Page  14,  line  28,  leave out Clause 36

 

Secretary Iain Duncan Smith

 

Agreed to  30

 

Clause  43,  page  17,  line  32,  leave out “cash balance benefits or other money

 

purchase” and insert “flexible”

 
 

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, continued

 
 

Secretary Iain Duncan Smith

 

Agreed to  31

 

Clause  45,  page  18,  line  24,  at end insert—

 

“( )    

The power under section 18(5) of the Public Service Pensions Act 2013 is to

 

include power to provide for exceptions in the case of a person who—

 

(a)    

served as a fee-paid judge before 1 April 2012, and

 

(b)    

has been notified by the appropriate Minister that he or she will

 

potentially be eligible for benefits under a scheme under this section in

 

relation to that service,

 

    

(and section 18(6) to (8) of the 2013 Act apply accordingly).

 

( )    

The power under section 18(5) of the Public Service Pensions Act (Northern

 

Ireland) 2014 is to include power to provide for exceptions in the case of a person

 

who—

 

(a)    

served as a fee-paid judge before 1 April 2012, and

 

(b)    

has been notified by the appropriate Minister that he or she will

 

potentially be eligible for benefits under a scheme under this section in

 

relation to that service,

 

    

(and section 18(7) to (9) of the 2014 Act apply accordingly).”

 

Secretary Iain Duncan Smith

 

Agreed to  32

 

Page  19,  line  37,  leave out clause 49

 

Secretary Iain Duncan Smith

 

Agreed to  33

 

Clause  50,  page  20,  line  21,  after “State” insert “or the Treasury”

 

Secretary Iain Duncan Smith

 

Agreed to  34

 

Clause  51,  page  20,  line  30,  leave out subsection (1)

 

Secretary Iain Duncan Smith

 

Agreed to  35

 

Clause  51,  page  20,  line  32,  after “Regulations” insert “made by the Secretary of

 

State or the Treasury”

 

Secretary Iain Duncan Smith

 

Agreed to  36

 

Clause  51,  page  20,  line  32,  at end insert—

 

“( )    

A power of the Department for Social Development in Northern Ireland to make

 

regulations under this Act is exercisable by statutory rule for the purposes of the

 

Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).”

 
 

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Secretary Iain Duncan Smith

 

Agreed to  37

 

Clause  51,  page  20,  line  40,  at end insert—

 

“( )    

Regulations made by the Department for Social Development in Northern Ireland

 

under this Act are subject to negative resolution within the meaning of section

 

41(6) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).”

 

Secretary Iain Duncan Smith

 

Agreed to  38

 

Clause  52,  page  21,  line  7,  at end insert—

 

“( )    

section 31,”

 

Secretary Iain Duncan Smith

 

Agreed to  39

 

Clause  52,  page  21,  line  7,  at end insert—

 

“( )    

section (Independent advice in respect of conversions and transfers:

 

Great Britain),

 

( )    

section (Power to require employer to arrange advice for purposes of

 

section (Independent advice in respect of conversions and transfers:

 

Great Britain)),

 

( )    

section (Independent advice in respect of conversions and transfers:

 

Northern Ireland),

 

( )    

section (Power to require employer to arrange advice for purposes of

 

section (Independent advice in respect of conversions and transfers:

 

Northern Ireland)),

 

( )    

section (Sums or assets that may be designated as available for

 

drawdown: Great Britain),

 

( )    

section (Provision about conversion of certain benefits for drawdown:

 

Great Britain),

 

( )    

section (Provision about calculation of lump sums: Great Britain),

 

( )    

section (Sums or assets that may be designated as available for

 

drawdown: Northern Ireland),

 

( )    

section (Provision about conversion of certain benefits for drawdown:

 

Northern Ireland), and

 

( )    

section (Provision about calculation of lump sums: Northern Ireland).”

 

Secretary Iain Duncan Smith

 

Agreed to  40

 

Clause  53,  page  21,  line  24,  leave out subsection (4) and insert—

 

“( )    

The following extend also to Northern Ireland—

 

(a)    

section (Independent advice: income tax exemption)(3);

 

(b)    

section (Meaning of “flexible benefit”);

 

(c)    

section (Meaning of “cash balance benefit”);

 

(d)    

section (Interpretation of Part 4);

 

(e)    

this Part.”

 
 

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Secretary Iain Duncan Smith

 

Agreed to  41

 

Clause  53,  page  21,  line  24,  at end insert—

 

“( )    

The following extend to Northern Ireland only—

 

(a)    

section (Independent advice in respect of conversions and transfers:

 

Northern Ireland);

 

(b)    

section (Power to require employer to arrange advice for purposes of

 

section (Independent advice in respect of conversions and transfers:

 

Northern Ireland));

 

(c)    

section (Sums or assets that may be designated as available for

 

drawdown: Northern Ireland);

 

(d)    

section (Provision about conversion of certain benefits for drawdown:

 

Northern Ireland);

 

(e)    

section (Provision about calculation of lump sums: Northern Ireland);

 

(f)    

section (Restriction on transfers out of public service defined benefits

 

schemes: Northern Ireland)(8) and (9).”

 

Secretary Iain Duncan Smith

 

Agreed to  42

 

Clause  54,  page  21,  line  26,  at end insert—

 

“( )    

section 43;

 

( )    

section (Independent advice: income tax exemption);

 

( )    

section (Provision about conversion of certain benefits for drawdown:

 

Great Britain);

 

( )    

section (Provision about calculation of lump sums: Great Britain);

 

( )    

section (Provision about conversion of certain benefits for drawdown:

 

Northern Ireland);

 

( )    

section (Provision about calculation of lump sums: Northern Ireland);

 

( )    

section (Rights to transfer benefits);

 

( )    

section (Reduction of cash equivalents: funded public service defined

 

benefits schemes: Great Britain)(1) and (4);

 

( )    

section (Public service defined benefits schemes: consequential

 

amendments: Great Britain);

 

( )    

section (Reduction of cash equivalents: funded public service defined

 

benefits schemes: Northern Ireland)(1) and (4);

 

( )    

section (Public service defined benefits schemes: consequential

 

amendments: Northern Ireland);

 

( )    

section (Meaning of “flexible benefit”);

 

( )    

section (Meaning of “cash balance benefit”);

 

( )    

section (Interpretation of Part 4);

 

( )    

Schedule 4;

 

( )    

Schedule (Rights to transfer benefits);”

 

Secretary Iain Duncan Smith

 

Agreed to  43

 

Clause  54,  page  21,  line  28,  leave out “, apart from section 49”

 
 

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Secretary Iain Duncan Smith

 

Agreed to  44

 

Clause  54,  page  21,  line  29,  at end insert—

 

“( )    

The following come into force on 6 April 2015—

 

(a)    

section (Independent advice in respect of conversions and transfers:

 

Great Britain);

 

(b)    

section (Power to require employer to arrange advice for purposes of

 

section (Independent advice in respect of conversions and transfers:

 

Great Britain));

 

(c)    

section (Independent advice: consequential amendments - Great

 

Britain);

 

(d)    

section (Independent advice in respect of conversions and transfers:

 

Northern Ireland);

 

(e)    

section (Power to require employer to arrange advice for purposes of

 

section (Independent advice in respect of conversions and transfers:

 

Northern Ireland));

 

(f)    

section (Independent advice: consequential amendments - Northern

 

Ireland);

 

(g)    

section (Sums or assets that may be designated as available for

 

drawdown: Great Britain);

 

(h)    

section (Restrictions on conversion of benefits during winding up etc:

 

Great Britain);

 

(i)    

section (Restriction on payment of lump sums during PPF assessment

 

period: Great Britain);

 

(j)    

section (Sums or assets that may be designated as available for

 

drawdown: Northern Ireland);

 

(k)    

section (Restrictions on conversion of benefits during winding up etc:

 

Northern Ireland);

 

(l)    

section (Restriction on payment of lump sums during PPF assessment

 

period: Northern Ireland);

 

(m)    

section (Restriction on transfers out of public service defined benefits

 

schemes: Great Britain);

 

(n)    

section (Reduction of cash equivalents: funded public service defined

 

benefits schemes: Great Britain)(2) and (3);

 

(o)    

section (Restriction on transfers out of public service defined benefits

 

schemes: Northern Ireland);

 

(p)    

section (Reduction of cash equivalents: funded public service defined

 

benefits schemes: Northern Ireland)(2) and (3).”

 

Secretary Iain Duncan Smith

 

Agreed to  45

 

Clause  54,  page  21,  line  31,  after “regulations” insert “made by the Secretary of

 

State”

 

Secretary Iain Duncan Smith

 

Agreed to  46

 

Clause  54,  page  21,  line  32,  leave out “4” and insert “3”

 

Secretary Iain Duncan Smith

 

Agreed to  47

 

Clause  54,  page  21,  line  33,  leave out “, 47 and 49” and insert “and 47”

 
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