Interim Pension Protection Fund
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Adam Price
NC1
To move the following Clause:—
'(1) The Interim Pension Protection Fund shall consist of—
| (a) | property and rights transferred to the Board from salary-related occupational pension schemes— |
| (i) | to which section 56 of the Pensions Act 1995 (c. 26) applies; |
| (ii) | which are being wound up prior to the coming into force of Part 2 of this Act; and |
| (iii) | where prima facie there is a shortfall of assets to meet all obligations to current and future pensioners thereunder, and |
| (b) | proceeds of the interim levy upon unclaimed assets. |
(2) Regulations must make provision for imposing a levy ("the interim levy") to be applied to unclaimed assets.
(3) The regulations must prescribe—
| (a) | the identification of unclaimed assets for the purposes of this Act, |
| (b) | the factors by reference to which the interim levy is to be assessed, |
| (c) | the rate of the levy, and |
| (d) | the time or times during the interim period when the levy becomes payable. |
(4) The Board shall have the same powers of compensation in respect of schemes hereunder as those set out in section 124 and Schedule 7 of this Act.
(5) In no circumstances may any of the proceeds of the levies established pursuant to sections 136 and 137 of this Act be applied for the purposes of this section.'.
Exercise of Regulator's functions
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
NC4
To move the following Clause:—
'In the exercise of its functions under this Act, the Regulator shall have regard to—
| (a) | the need to use its resources efficiently and effectively, |
| (b) | the principle that any burden or restriction imposed should be proportionate to the benefits thereof, and |
| (c) | the need to be open and transparent at all times, and to consult those with an interest when developing policies, procedures and practices.'. |
Annual increase in rate of certain personal pensions
Mr David Willetts
Mr Nigel Waterson
Mr George Osborne
Mr Peter Atkinson
Gregory Barker
Mr David Ruffley
NC7
To move the following Clause:—
'Sections 162 and 163 of the Pensions Act 1995 (c26) (annual increase in rate of certain personal pensions) shall cease to have effect.'.
Restriction on employers' powers to alter schemes for future service
Kevin Brennan
NC8
To move the following Clause:—
'(1) After section 67 of the Pensions Act 1995 there shall be inserted—
"67A Restriction on employers' powers to alter schemes for future service
(1) This section applies to any measure which an employer envisages that he may take whereby a pension scheme in which the employer participates—
| (a) | will be closed to admission of new members; |
| (b) | will be modified by any person so that the rights or interests of any member will be adversely affected for future service; |
| (c) | will be modified so that the contributions which members are obliged to pay as a condition of membership will be increased; or |
| (d) | (in the case of a pension scheme which is not a salary-related pension scheme) will be modified so that the employer's obligation to contribute to the scheme will be reduced. |
(2) Where this section applies, the employer shall meet the notice and consultation requirements specified in subsections (3) to (9) below before any such measure has effect.
(3) The notice requirements are that notice of any measure envisaged shall be given by the employer, in the manner specified in sub-section (4), to—
| (a) | his employees (whether or not they are members of the scheme); |
| (b) | the trustees and administrator of the scheme; and |
| (c) | any recognised union. |
(4) Notices given under subsection (3) shall be in writing and shall—
| (a) | specify the measures which are envisaged, and, if the measures will not relate to all employees, the categories or descriptions of the employees to be so affected; |
| (b) | in the case of measures having the effect described in sub-section (1) above shall specify the categories or descriptions of the employees or future employees to be affected; |
| (c) | specify the date from which it is anticipated that those measures will have effect; and |
| (d) | specify the name and business address of the person to whom representations may be made with respect to the matters included in the notice. |
(5) A notice under this section shall be given—
| (i) | sending or delivering it to him, or |
| (ii) | exhibiting it conspicuously at the place of work or employment so that it may be read conveniently by him and by drawing his attention to it in writing; |
| (b) | to any other person, by sending or delivering it to that person. |
(6) Unless there are special circumstances which render it not reasonably practicable, a notice under this section must specify a date of expiry which is not earlier than the date three months after the date on which the notice is given.
(7) The consultation requirements are that unless there are special circumstances which render it not reasonably practicable the employer shall consult any recognised trade unions with a view to seeking their agreement to the measures to be taken.
(8) In the course of those consultations the employer shall—
| (a) | consider any representations made by the recognised trade unions; and |
| (b) | reply to those representations and, if he rejects any of those representations, state his reasons. |
(9) If in any case there are special circumstances which render it not reasonably practicable for an employer to perform a duty imposed on him by any of subsections (3) to (8) he shall take all such steps towards performing that duty as are reasonably practicable in the circumstances.
(10) In this section—
| (a) | an effect upon any right or interest shall be taken to be adverse unless the actuary certifies that it is not; |
| (b) | a recognised trade union is an independent trade union recognised to any extent for the purpose of collective bargaining in relation to the employees concerned. |
67B Failure to give notice or consult
(1) Where an employer has failed to comply with a requirement of section 67A, a complaint may be presented to an employment tribunal on that ground—
| (a) | in the case of failure relating to representatives of a trade union, by the trade union, |
| (b) | in any other case, by any of his employees who are affected employees. |
(2) If on a complaint under subsection (1) above a question arises whether or not it was reasonably practicable for an employer to perform a particular duty or what steps he took towards performing it, it shall be for him to show—
| (a) | that there were special circumstances which rendered it not reasonably practicable for him to perform the duty; and |
| (b) | that he took all such steps towards its performances as were reasonably practicable in those circumstances. |
(3) Where the tribunal finds a complaint under paragraph (1) above well-founded it shall make a declaration to that effect and may order the employer to pay appropriate compensation to such descriptions of affected employees as may be specified in the award;
(4) An appeal shall lie and shall lie only to the Employment Appeal Tribunal on a question of law arising from any decision of, or arising in any proceedings before, an employment tribunal under or by virtue of those Regulations; and section 13(1) of the Tribunals and Inquiries Act 1971 (appeal from certain tribunals to the High Court) shall not apply in relation to any such proceedings.
(5) In this section—
| (a) | 'appropriate compensation means such sum not exceeding thirteen weeks' pay for the employee in question as the tribunal considers just and equitable having regard to the seriousness of the failure of the employer to comply with his duty. |
| (b) | 'affected employee' means an employee who is a member of the scheme or who would be eligible to become a member if a measure within the meaning of section 67A(1)(a) had not taken effect. |
(6) Chapter II of the Employment Rights Act 1996 shall apply for calculating the amount of a week's pay for any employee for the purposes of subsection (11) above.".'.
ORDER OF THE HOUSE [2nd MARCH 2004]
That the following provisions shall apply to the Pensions Bill:
Committal
1. The Bill shall be committed to a Standing Committee.
Standing Committee
2. Proceedings in the Standing Committee shall (so far as not previously concluded) be brought to a conclusion on 22nd April 2004.
3. The Standing Committee shall have leave to sit twice on the first day on which it meets.
Consideration and Third Reading
4. Proceedings on consideration shall (so far as not previously concluded) be brought to a conclusion one hour before the moment of interruption on the day on which those proceedings are commenced.
5. Proceedings on Third Reading shall (so far as not previously concluded) be brought to a conclusion at the moment of interruption on the day on which proceedings on consideration are commenced.
6. Sessional Order B (programming committees) made on 28th June 2001 shall not apply to proceedings on consideration and Third Reading.
Other proceedings
7. Any other proceedings on the Bill (including any proceedings on consideration of Lords Amendments or on any further message from the Lords) may be programmed.
ORDER OF THE COMMITTEE [9th AND 16th MARCH 2004]
That—
(1) during proceedings on the Pensions Bill the Standing Committee shall, in addition to its first meeting on Tuesday 9th March at 9.30 a.m., meet—
| (a) | on that day at 2.30 p.m., and |
| (b) | thereafter when the House is sitting on Tuesdays at 9.30 a.m. and 2.30 p.m. and on Thursdays at 9.30 a.m. and 2.00 p.m. |
(2) the proceedings to be taken at the sittings shall be as shown in the second column of the Table below and shall be taken in the order so shown;
(3) the proceedings which under paragraph (2) are to be taken on any sitting shall (so far as not previously concluded) be brought to a conclusion at the time specified in the third column of the Table;
(4) paragraph (2) shall not prevent proceedings being taken (in the order shown in the second column of the Table) at any earlier sitting than that provided for under paragraph (2) if previous proceedings have already been concluded.
'TABLE
| Sitting | Proceedings | Time for conclusion of proceedings |
| 9th March (9.30 a.m.) | Clauses 1 to 3, Schedule 1, Clauses 4 to 11, Schedule 2, Clauses 12 to 60, Schedule 3, Clauses 61 to 76, Schedule 4 and Clauses 77 to 80. | — |
| 9th March (2.30 p.m.) | Clauses 1 to 3, Schedule 1, Clauses 4 to 11, Schedule 2, Clauses 12 to 60, Schedule 3, Clauses 61 to 76, Schedule 4 and Clauses 77 to 80 (so far as not previously concluded). | — |
| 11th March (9.30 a.m.) | Clauses 1 to 3, Schedule 1, Clauses 4 to 11, Schedule 2, Clauses 12 to 60, Schedule 3, Clauses 61 to 76, Schedule 4 and Clauses 77 to 80 (so far as not previously concluded). | — |
| 11th March (2.00 p.m.) | Clauses 1 to 3, Schedule 1, Clauses 4 to 11, Schedule 2, Clauses 12 to 60, Schedule 3, Clauses 61 to 76, Schedule 4 and Clauses 77 to 80 (so far as not previously concluded). | — |
| 16th March (9.30 a.m.) | Clauses 1 to 3, Schedule 1, Clauses 4 to 11, Schedule 2, Clauses 12 to 60, Schedule 3, Clauses 61 to 76, Schedule 4 and Clauses 77 to 80 (so far as not previously concluded). | 11.25 a.m. |
| 16th March (2.30 p.m.) | Clauses 220 and 221, Schedule 10, Clauses 222 and 223, Clauses 191 to 193, Schedule 9 and Clauses 194 and 195, New Clauses relating to Part 6 of the Bill. | — |
| 18th March (9.30 a.m.) | Clauses 220 and 221, Schedule 10, Clauses 222 and 223, Clauses 191 to 193, Schedule 9 and Clauses 194 and 195, New Clauses relating to Part 6 of the Bill (so far as not previously concluded). | 11.25 a.m. |
| 18th March (2.00 p.m.) | Clauses 196 to 219 and Clauses 178 to 190. | — |
| 23rd March (9.30 a.m.) | Clauses 196 to 219 and Clauses 178 to 190 (so far as not previously concluded). | — |
| 23rd March (2.30 p.m.) | Clauses 196 to 219 and Clauses 178 to 190 (so far as not previously concluded). | 8.00 p.m. |
| 25th March (9.30 a.m.) | Clauses 81 to 83, Schedule 5, Clauses 84 to 123, Schedule 6, Clause 124, Schedule 7, Clauses 125 to 162, Schedule 8 and Clauses 163 to 177. | — |
| 25th March (2.00 p.m.) | Clauses 81 to 83, Schedule 5, Clauses 84 to 123, Schedule 6, Clause 124, Schedule 7, Clauses 125 to 162, Schedule 8 and Clauses 163 to 177 (so far as not previously concluded). | — |
| 30th March (9.30 a.m.) | Clauses 81 to 83, Schedule 5, Clauses 84 to 123, Schedule 6, Clause 124, Schedule 7, Clauses 125 to 162, Schedule 8 and Clauses 163 to 177 (so far as not previously concluded). | — |
| 30th March (2.30 p.m.) | Clauses 81 to 83, Schedule 5, Clauses 84 to 123, Schedule 6, Clause 124, Schedule 7, Clauses 125 to 162, Schedule 8 and Clauses 163 to 177 (so far as not previously concluded). | — |
| 1st April (9.30 a.m.) | Clause 81 to 83, Schedule 5, Clauses 84 to 123, Schedule 6, Clause 124, Schedule 7, Clauses 125 to 162, Schedule 8 and Clauses 163 to 177 (so far as not previously concluded). | — |
| 1st April (2.00 p.m.) | Clauses 81 to 83, Schedule 5, Clauses 84 to 123, Schedule 6, Clause 124, Schedule 7, Clauses 125 to 162, Schedule 8 and Clauses 163 to 177 (so far as not previously concluded). | — |
| 20th April (9.30 a.m.) | Clauses 81 to 83, Schedule 5, Clauses 84 to 123, Schedule 6, Clause 124, Schedule 7, Clauses 125 to 162, Schedule 8 and Clauses 163 to 177 (so far as not previously concluded). | — |
| 20th April (2.30 p.m.) | Clauses 81 to 83, Schedule 5, Clauses 84 to 123, Schedule 6, Clause 124, Schedule 7, Clauses 125 to 162, Schedule 8 and Clauses 163 to 177 (so far as not previously concluded). | 8.00 p.m. |
| 22nd April (9.30 a.m.) | Clauses 224 to 242, Schedule 11, Clause 243, Schedule 12, Clauses 244 to 248. | 11.25 a.m. |
| 22nd April (2.00 p.m.) | Remaining New Clauses, New
Schedules and remaining
proceedings on the Bill. | 5.00 p.m.' |
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