Pensions Bill [HL]

Page 1, line 6, leave out “December 1953”” and insert “April 1955””

Page 1, line 8, leave out subsection (4)

Page 2, leave out lines 3 to 6 and insert—

Page 2, line 6, at end insert—

“( ) In sub-paragraph (5) for “person” substitute “man”.”

Page 2, line 10, after “which” insert “man’s”

Page 2, leave out lines 12 to 18 and insert—

Page 2, line 19, after “(6)” insert—

“(a) in both places for “person” substitute “man”, and

(b) ’’

Page 2, line 19, leave out ““1954”” and insert ““1956””

Page 2, line 19, at end insert—

“( ) After sub-paragraph (10) insert—

“(11) The Secretary of State may by regulations vary the provisions of this Schedule to provide for an earlier pensionable age in individual cases without loss of benefit in the event of—

(a) prolonged ill health, or

(b) arduous or dangerous employment,

or both.””

Page 2, line 19, at end insert—

“( ) After sub-paragraph (6) insert—

“(6A) A woman born after 5th April 1955 but before 6th April 1968 attains pensionable age when the woman attains the age of 66.””

Insert the following new Clause—

“Qualifying age for pension credit

(1) The Secretary of State must make regulations setting out the qualifying age for pension credit.

(2) The qualifying age for pension credit from 6th March 2011 until 6th March 2020 shall be set so that the timetable in Schedule 6 has effect.

(3) After 6th March 2020 the qualifying age for attaining pension credit shall be set at an age that does not exceed the age that a person qualifies for the state pension.”

Page 20, line 20, leave out from “(a)” to end of line 22 and insert “for “2024” substitute “April 2020”.”

Page 20, line 31, leave out “December 2018”” and insert “April 2020””

Insert the following new Schedule—

Any increase in the qualifying age for pension credit between 6th March 2011 and 6th March 2020 must not exceed the qualifying date set out in column (2) for any eligible person born on any day in a period mentioned in column (1).

Page 4, line 30, leave out “£7,475” and insert “£5,715”

Page 5, line 1, leave out “£7,475” and insert “£5,715”

Page 6, line 16, at end insert “, unless the worker has been employed for a least two months at the starting date, in which case it shall be one month”

Page 6, line 20, at end insert—

“( ) An employer may not repeat a notice to the same worker under subsection (3).”

The above-named Lords give notice of their intention to oppose the Question that Clause 6 stand part of the Bill.

Page 7, line 27, at end insert—

“(2A) An order made under subsection (2) must not increase the amount in section 3(1)(c) by more than the higher of the increase in the general level of prices in Great Britain and the general level of earnings, estimated in such manner as the Secretary of State thinks fit.”

Page 9, line 3, leave out “or most”

Page 9, line 5, leave out “a majority” and insert “no less than 90%”

Insert the following new Clause—

“Power of trustees to allow early access to lump sums

After section 32 of the 2008 Act (power of trustees to modify by resolution) insert—

“32A Power of trustees to allow early access to lump sums

Providing that the jobholder has at least £10,000 in his or her pension scheme, upon application to the trustees of the qualifying scheme or automatic enrolment scheme a jobholder may withdraw up to 25% of the total sum accrued at the time of the application in the jobholder’s NEST.””

Page 10, line 12, leave out subsection (2)

Page 10, line 15, leave out subsection (3)

Page 10, line 24, leave out “and, since the relevant time, have always required”

Page 10, line 34, leave out “and, since the relevant time, have always required”

Page 11, leave out lines 18 to 22

Page 28, line 42, leave out “and (9)”

Page 29, line 9, leave out from “section” to end of line 11

Page 29, line 11, at end insert—

“ In the following provisions of the Pensions Act 2004 after “152(2)” insert “or (2B)”—

(a) section 154(2)(c) (requirement to wind up certain schemes), and

(b) section 172(4) and (5)(c) (fraud compensation regime).”

Page 31, line 37, at end insert—

“( ) In each of the following after “21” insert “or 21A”—

(a) paragraph 25(1) (early payment of compensation),

(b) paragraph 25(3) (as amended by paragraph 12 of Schedule 8 to the Pensions Act 2008),

(c) in paragraph 25B(4) (terminal illness lump sum) paragraph (b) of the definition of “relevant age”, and

(d) paragraph 28(8)(c) (annual increase in periodic compensation).”