Commentary on Commons amendments
Commons amendment to Clause 27: Requirement to submit supervisory return
Commons amendment 1
6 This amendment alters Clause 27(3) by removing the provision requiring a notice from the Pensions Regulator to collective money purchase scheme trustees to include a requirement to assess the extent to which the scheme is operating in a manner fair to all members. The Clause now reflects the original drafting in the Bill at its introduction to the Lords.
Commons amendment to Clause 118: Qualifying pensions dashboard service
Commons amendment 2
7 This amendment removes subsection (3) which requires regulations under inserted section 238A of the Pensions Act 2004 to include a requirement excluding facilities for engaging in financial transaction activities from a qualifying pensions dashboard service. The Clause now reflects the original drafting in the Bill at its introduction to the Lords.
Commons amendment to Clause 122: The Money and Pensions Service: the pensions guidance function
Commons amendment 3
9 This amendment removes subsection (3) from section 4A inserted into the Financial Guidance and Claims Act 2018 by Clause 122, which prevents a pensions dashboard service being a qualifying pensions dashboard service under section 238A of the Pensions Act 2004 for a year following the establishment of the dashboard service operated by the Money and Pensions Service, and requires the Secretary of State to report on the operation and effectiveness of the dashboard service in that first year. The Clause now reflects the original drafting in the Bill at its introduction to the Lords.
Commons amendment to Clause 123: Funding of defined benefit schemes
Commons amendment 4
10 This amendment removes subsection (2) which requires the Secretary of State, when making regulations or prescribing principles or matters under Part 3 of the Pensions Act 2004, to ensure that certain purposes are achieved as regards pension schemes. The Clause now reflects the original drafting in the Bill at its introduction to the Lords.
Commons amendment to Clause 132: Short title
Commons amendment 5
11 This amendment removes the privilege amendment inserted at Lords Third Reading.