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House of Commons
Session 2003 - 04
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Other Bills before Parliament

Pensions Bill


Pensions Bill

ix

 

The levy

151   

Fraud compensation levy

Chapter 5

Gathering information

152   

Information to be provided to the Board

153   

Notices requiring provision of information

154   

Entry of premises

155   

Penalties relating to sections 153 and 154

156   

Warrants

Provision of false or misleading information

157   

Offence of providing false or misleading information to the Board

Use of information

158   

Use of information

Disclosure of information

159   

Restricted information

160   

Disclosure for facilitating exercise of functions by the Board

161   

Disclosure for facilitating exercise of functions by the Regulator

162   

Disclosure for facilitating exercise of functions by other supervisory

authorities

163   

Other permitted disclosures

164   

Disclosure of information by the Inland Revenue

Provision of information to scheme members etc

165   

Provision of information to members of schemes etc

Interpretation

166   

Sections 152 to 165: interpretation

Chapter 6

Reviews, appeals and maladministration

Review etc by the Board

167   

Meaning of “reviewable matters”

168   

Review and reconsideration by Board of reviewable matters

169   

Investigation by Board of complaints of maladministration

The PPF Ombudsman

170   

The Ombudsman for the Board of the Pension Protection Fund

171   

Disqualification of PPF Ombudsman from certain offices

172   

Annual reports to Secretary of State

 
 

Pensions Bill

x

 

References to the PPF Ombudsman

173   

Reference of reviewable matter to the PPF Ombudsman

174   

Investigation by PPF Ombudsman of complaints of maladministration

175   

Determinations of the PPF Ombudsman

176   

Obstruction etc of the PPF Ombudsman

Chapter 7

Miscellaneous

Backdating the winding up of eligible schemes

177   

Backdating the winding up of eligible schemes

Part 3

Scheme funding

Introductory

178   

Pension schemes to which this Part applies

Scheme funding

179   

The statutory funding objective

180   

Statement of funding principles

181   

Actuarial valuations and reports

182   

Certification of technical provisions

183   

Recovery plan

184   

Schedule of contributions

185   

Failure to make payments

186   

Matters requiring agreement of the employer

187   

Matters on which advice of actuary must be obtained

188   

Powers of the Regulator

Supplementary provisions

189   

Power to modify provisions of this Part

190   

Construction as one with the Pensions Act 1995

Part 4

Financial planning for retirement

Retirement planning

191   

Promoting and facilitating financial planning for retirement

192   

Supply of information for purposes of section 191

193   

Use and supply of information: private pensions policy and retirement

planning

194   

Combined pension forecasts

 
 

Pensions Bill

xi

 

Employee information and advice

195   

Information and advice to employees

Part 5

Occupational and personal pension schemes: miscellaneous provisions

Requirements for member-nominated trustees and directors

196   

Requirement for member-nominated trustees

197   

Requirement for member-nominated directors of corporate trustees

198   

Member-nominated trustees and directors: supplementary

Obligations of trustees of occupational pension schemes

199   

Investment principles

200   

Requirement for knowledge and understanding: individual trustees

201   

Requirement for knowledge and understanding: corporate trustees

202   

Requirement for knowledge and understanding: supplementary

Pension protection on transfer of employment

203   

Conditions for pension protection

204   

Form of protection

Safeguarding pension rights

205   

Paternity leave and adoption leave

206   

Inalienability of occupational pension

Payments by employers

207   

Payments made by employers to personal pension schemes

208   

Payments made by employers and members to occupational pension schemes

Deficiency in assets of certain occupational pension schemes

209   

Debt due from the employer when assets insufficient

Pension disputes

210   

Resolution of disputes

Pension compensation

211   

Amendments relating to the Pensions Compensation Board

Annual increases in rate of pensions

212   

Annual increase in rate of certain occupational pensions

213   

Annual increase in rate of certain personal pensions

214   

Power to increase pensions giving effect to pension credits etc

 
 

Pensions Bill

xii

 

Revaluation

215   

Exemption from statutory revaluation requirement

Contracting out

216   

Meaning of “working life” in Pension Schemes Act 1993

217   

Power to prescribe conditions by reference to Inland Revenue approval

218   

Restrictions on commutation and age at which benefits may be received

Stakeholder pensions

219   

Meaning of “stakeholder pension scheme”

Part 6

State pensions

Entitlement to more than one pension

220   

Persons entitled to more than one Category B retirement pension

Deferral of state pension

221   

Deferral of retirement pensions and shared additional pensions

Miscellaneous

222   

Disclosure of state pension information

223   

Claims for certain benefits following termination of reciprocal agreement

with Australia

Part 7

Miscellaneous and supplementary

Dissolution of existing bodies

224   

Dissolution of OPRA

225   

Transfer of employees from OPRA to the Regulator

226   

Dissolution of the Pensions Compensation Board

Service of notifications etc and electronic working

227   

Service of notifications and other documents

228   

Notification and documents in electronic form

229   

Timing and location of things done electronically

General

230   

Overriding requirements

231   

Modification of this Act in relation to hybrid or multi-employer schemes

232   

Offences by bodies corporate and partnerships

233   

Admissibility of statements

234   

Protected items

 
 

Pensions Bill

xiii

 

235   

Liens

236   

Crown application

Regulations and orders

237   

Breach of regulations

238   

Subordinate legislation (general provisions)

239   

Parliamentary control of orders and regulations

240   

Consultations about regulations

Interpretation

241   

General interpretation

Miscellaneous and supplementary

242   

Minor and consequential amendments

243   

Repeals and revocations

244   

Pre-consolidation amendments

245   

Commencement

246   

Extent

247   

Northern Ireland

248   

Short title

Schedule 1   —   

The Pensions Regulator

Part 1   —   

Members of the Regulator

Part 2   —   

Staff of the Regulator

Part 3   —   

Members of the Determinations Panel

Part 4   —   

Proceedings and delegation etc

Part 5   —   

Funding and accounts

Part 6   —   

Status and liability etc

Schedule 2   —   

The reserved regulatory functions

Part 1   —   

Functions under the Pension Schemes Act 1993 (c. 48)

Part 2   —   

Functions under the Pensions Act 1995 (c. 26)

Part 3   —   

Functions under the Welfare Reform and Pensions Act 1999 (c.

30)

Part 4   —   

Functions under this Act

Schedule 3   —   

Restricted information held by the Regulator: certain

permitted disclosures to facilitate exercise of functions

Schedule 4   —   

The Pensions Regulator Tribunal

Part 1   —   

The Tribunal

Part 2   —   

Constitution of the Tribunal

Part 3   —   

Tribunal Procedure

Part 4   —   

Status etc

Schedule 5   —   

The Board of the Pension Protection Fund

Part 1   —   

Members of the Board

Part 2   —   

Staff of the Board

Part 3   —   

Proceedings and delegation etc

Part 4   —   

Accounts

Part 5   —   

Status and liability etc

Schedule 6   —   

Transfer of property, rights and liabilities to the Board

 
 

Pensions Bill

xiv

 

Schedule 7   —   

Pension compensation provisions

Schedule 8   —   

Restricted information held by the Board: certain permitted

disclosures to facilitate exercise of functions

Schedule 9   —   

Use and supply of information: private pensions policy and

retirement planning

Schedule 10   —   

Deferral of retirement pensions and shared additional

pensions

Part 1   —   

Principal amendments of Social Security Contributions and

Benefits Act 1992

Part 2   —   

Consequential amendments

Part 3   —   

Transitional provisions

Schedule 11   —   

Minor and consequential amendments

Schedule 12   —   

Repeals and revocations

Part 1   —   

Repeals

Part 2   —   

Revocations

 
 

 
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Revised 12 February 2004