Amendments proposed to the Welfare Reform and Pensions Bill - continued	House of Commons
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Mr Iain Duncan Smith
Mr Quentin Davies
Mr Eric Pickles

34

Clause     9,     page     8,     line     24,     after 'occupational', insert 'or other stakeholder'.

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Mr Stephen Timms

44

Clause     10,     page     9,     leave out lines 21 and 22.

   

Mr Iain Duncan Smith
Mr Quentin Davies
Mr Eric Pickles

35

Clause     10,     page     9,     line     22,     at end insert—

'(gg) a pension scheme held in the form of units in a unit trust, or shares in an investment trust or in an open-ended investment company which is approved as a pension scheme by the Inland Revenue under that Part or which is being considered for approval under that Part;'.

   

Mr Iain Duncan Smith
Mr Quentin Davies
Mr Eric Pickles

37

Clause     10,     page     9,     line     24,     at end insert—

'(i) any other stakeholder pension within the meaning of section 1 of this Act;'.

   

Mr Iain Duncan Smith
Mr Quentin Davies
Mr Eric Pickles

36

Clause     10,     page     9,     line     26,     at end insert 'and which has been approved by the Inland Revenue'.

   

Mr Stephen Timms

45

Clause     10,     page     9,     line     34,     leave out from 'Act,' to 'and' in line 36.

   

Mr Iain Duncan Smith
Mr Quentin Davies
Mr Eric Pickles

38

Clause     10,     page     9,     line     44,     at end insert—

    '(5A) No pension rights of any person shall however vest in his trustee of bankruptcy if they were acquired or secured during a period when the arrangement was approved.'.

   

Mr Iain Duncan Smith
Mr Quentin Davies
Mr Eric Pickles

39

Clause     10,     page     10,     leave out lines 1 to 21.

   

Mr Iain Duncan Smith
Mr Quentin Davies
Mr Eric Pickles

40

Clause     10,     page     10,     line     22,     leave out 'under subsection (5) or (7)' and insert 'in accordance with this section'.

   

Mr Iain Duncan Smith
Mr Quentin Davies
Mr Eric Pickles

41

Clause     10,     page     10,     line     26,     leave out from '(b)' to last 'the' in line 27 and insert 'and the communication of that decision to the trustees or managers.'.

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Mr Stephen Timms

46

Clause     12,     page     11,     line     19,     at end insert—

    '( ) In section 159(6) of that Act (application of section 159 to Scotland), after "this section" there shall be inserted "and section 159A".'.

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Mr Stephen Timms

47

Schedule     2,     page     66,     line     42,     at end insert—

'Interim arrangements

     .—(1) Section 28 of the Pension Schemes Act 1993 (ways of giving effect to protected rights) is amended as follows.

    (2) In subsection (1)—

(a) omit paragraph (aa) (but not the final "and"); and

(b) in paragraph (b), for "permitted" substitute "provided for".

    (3) For subsection (1A) substitute—

    "(1A) Where the scheme is a personal pension scheme which provides for the member to elect to receive payments in accordance with this subsection, and the member so elects, effect shall be given to his protected rights during the interim period by the making of payments under an interim arrangement which—
(a) complies with section 28A, and
(b) satisfies such conditions as may be prescribed;

    and in such a case subsections (2) to (4) accordingly apply as regards giving effect to his protected rights as from the end of that period."

    (4) In subsection (3) for "(1A)(a) or" substitute "(1A) or".'.

   

Mr Stephen Timms

48

Schedule     2,     page     67,     line     5,     at end insert—

    '(2C) Where a contributions equivalent premium is required to be paid in respect of an earner by virtue of subsection (2), the prescribed person must notify the Inland Revenue of that fact within the prescribed period and in the prescribed manner." '.

   

Mr Stephen Timms

49

Schedule     2,     page     67,     line     5,     at end insert—

    '(2) In section 51 of the Pension Schemes (Northern Ireland) Act 1993 (contributions equivalent premiums)—

(a) in subsection (2), after "the prescribed person" insert "shall, if subsection (2B) applies, pay and otherwise";

(b) in subsection (2A), omit the words following paragraph (e); and

(c) after that subsection insert—

    "(2B) Except in prescribed circumstances, this subsection applies in any case where the earner has no accrued right to any benefit under the scheme.

    (2C) Where a contributions equivalent premium is required to be paid in respect of an earner by virtue of subsection (2), the prescribed person must notify the Inland Revenue of that fact within the prescribed period and in the prescribed manner.".'.

   

Mr Stephen Timms

50

Schedule     2,     page     67,     line     5,     at end insert—

'Payment by Secretary of State of unpaid pension contributions

    3A.—(1) Paragraph 2 of Schedule 4 to the Pension Schemes Act 1993 (priority in bankruptcy for amounts paid by Secretary of State in respect of unpaid pension contributions) is amended as follows.

    (2) For sub-paragraphs (1) to (3) substitute—

    "(1) This Schedule applies to any sum owed on account of an employer's contributions to a salary related contracted-out scheme which were payable in the period of 12 months immediately preceding the relevant date.

    (1A) The amount of the debt having priority by virtue of sub-paragraph (1) shall be taken to be an amount equal to the appropriate amount.

    (2) This Schedule applies to any sum owed on account of an employer's minimum payments to a money purchase contracted-out scheme falling to be made in the period of 12 months preceding the relevant date.

    (3) In so far as payments cannot from the terms of the scheme be identified as falling within sub-paragraph (2), the amount of the debt having priority by virtue of that sub-paragraph shall be taken to be an amount equal to the appropriate amount.

    (3A) In sub-paragraph (1A) or (3) "the appropriate amount" means the aggregate of—

(a) the percentage for non-contributing earners of the total reckonable earnings paid or payable, in the period of 12 months referred to in sub-paragraph (1) or (2) (as the case may be), to or for the benefit of non-contributing earners; and
(b) the percentage for contributing earners of the total reckonable earnings paid or payable, in that period, to or for the benefit of contributing earners.

    (3) In sub-paragraph (4), for "sub-paragraph (3)" substitute "sub-paragraph (3A)".'.

   

Mr Stephen Timms

51

Schedule     2,     page     67,     line     5,     at end insert—

'Supervision by the Occupational Pensions Regulatory Authority

     . In section 8(4) of the Pensions Act 1995 (provision which may be contained in orders made by the Authority appointing pension scheme trustees), omit the word "or" at the end of paragraph (a).'.

   

Mr Stephen Timms

52

Schedule     2,     page     67,     line     5,     at end insert—

    ' . In section 10 of the Pensions Act 1995 (imposition of civil penalties by the Authority), after subsection (8) insert—

    "(8A) Any penalty recoverable under this section—
(a) shall, if a county court so orders, be recoverable by execution issued from the county court or otherwise as if it were payable under an order of that court; and
(b) may be enforced as if it were an extract registered decree arbitral bearing a warrant for execution issued by the sheriff court of any sheriffdom in Scotland."'.

   

Mr Stephen Timms


53

Schedule     2,     page     67,     line     22,     at end insert—

'Annual increase in rate of pension

     . In section 54(3) of the Pensions Act 1995 (supplementary provisions about annual increases in pensions), in the definition of "appropriate percentage", for the words from "the revaluation period" onwards substitute "the latest revaluation period specified in the order under paragraph 2 of Schedule 3 to the Pension Schemes Act 1993 (revaluation of accrued pension benefits) which is in force at the time of the increase (expressions used in this definition having the same meaning as in that paragraph),".'.

   

Mr Stephen Timms

54

Schedule     2,     page     67,     leave out lines 30 and 31 and insert—

'(b) omit the words "continue to".'.

   

Mr Stephen Timms

55

Schedule     2,     page     67,     line     35,     at end insert—

'Excess assets of wound-up schemes

     . In section 77(5) of the Pensions Act 1995 (penalties for trustees who deal improperly with excess assets of wound-up occupational pension schemes), for "section 3 applies" substitute "sections 3 and 10 apply".'.

   

Mr Stephen Timms

56

Schedule     2,     page     68,     line     3,     at end insert—

'Pensionable service

     . In section 124(3) of the Pensions Act 1995 (matters to be disregarded in determining "pensionable service"), at the end insert—

    "but, in its application for the purposes of section 51, paragraph (b) does not affect the operation of any rules of the scheme by virtue of which a period of service is to be rounded up or down by a period of less than a month.".'.

Prepared 11 Mar 1999