Notices of Amendments
given on
Thursday 8th February 2007
Consideration of Bill
Pensions Bill, As Amended
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
1
Page 6, line 21 [Clause 5], leave
out from ‘shall’ to end of line 22 and insert ‘determine
the general level of earnings as set out in subsections (8A).
(8A) If the average earnings index (including bonuses)
for the whole economy for September in any year is higher than the index
for the previous September, the Secretary of State shall as soon as
practicable make an order in relation to each sum mentioned in subsection
(1), increasing each sum, if the new index is higher, by the same percentage
as the amount of the increase of the index.’.
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
2
Page 7, line 10 [Clause 5], at
end insert—
Pension forecasts
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC1
‘The Secretary of State shall publish estimates, no
later than 1st April 2008, of how many people he expects to receive
less than £135 per week in Basic State Pension and Second State
Pension combined in 2030 and 2050.’.
Report by Government Actuary on trends in longevity
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC2
Uprating of pensions for pensioners living overseas
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC3
Report on older workers not paying or being credited
with National Insurance contributions
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC4
(a) analysing, by local authority area and by job sector,
the number and distribution of people over 60 seeking work and not being
credited with contribution credits, and
Review of the abolition of contracting-out for
defined contribution pensions schemes
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC5
Application of Freedom of Information Act to Personal
Accounts Delivery Authority
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC6
Performance of the Personal Accounts Delivery
Authority
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC7
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
3
Page 22, line 6 [Clause 19], at
end insert—
(7D) If, before the end of that period, either House resolves
that the guidance should not be issued, the Secretary of State must
not issue it.
Trends in longevity
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC8
Pension Credit
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC9
Contracted-out rebates
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC10
Financial Assistance Scheme
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC11
Retirement Income Funds
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC12
(3) The second condition is that an authorised Retirement
Income Fund provider must set an annual maximum withdrawal allowance
for each member, based on an assessment of each member’s life
expectancy, and a member’s withdrawals from the fund in any one
year must not exceed that allowance.
(4) The third condition is that, in setting annual maximum
withdrawal allowances, an authorised provider must ensure that no member’s
total future annual income falls below the Minimum Retirement Income
level (as set under section [Minimum Retirement Income] of the Pensions
Act 2007) except in the circumstances provided for in the sixth condition.
(7) The sixth condition is that, where there are insufficient
funds to enable the annual minimum withdrawal allowance to be set so
that a member’s total income is at least equivalent to the Minimum
Retirement Income level, the allowance should be set at the highest
level consistent with the assessment of the member’s life expectancy.
(8) The seventh condition is that the maximum and minimum
withdrawal allowances must be set at the same level if a member’s
total annual income, including his maximum withdrawal allowance, is
lower than the Minimum Retirement Income level.
Amendment of pension rules
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC13
Minimum Retirement Income
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC14
Removal of age limit for annuity protection lump
sum death benefit
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC15
Report on contribution credits
Mr Nigel Waterson
Andrew Selous
Mr Mark Lancaster
John Penrose
Mark Pritchard
NC16
Deferral of claim to Basic State Pension
Mr David Laws
Lorely Burt
Danny Alexander
NC17
‘The Secretary of State shall, no later than 31st
December 2007, publish proposals as to how the Government will enable
those people who have reached the state pension age and not made the
necessary National Insurance contributions or accrued the necessary
credits for entitlement to the full Basic State Pension, to defer claiming
the Basic State Pension and continue to pay National Insurance contributions
until the entitlement to a full Basic State Pension has been accrued.’.
Mr David Laws
Lorely Burt
Danny Alexander
4
Page 6, line 2 [Clause 5], at
end insert ‘; or by a percentage not less than the percentage
by which the general level of prices is greater at the end of the period
than it was at the beginning, whichever is the higher.’.
Mr David Laws
Lorely Burt
Danny Alexander
5
Page 6, line 5 [Clause 5], at
end insert—
Mr David Laws
Lorely Burt
Danny Alexander
6
Page 6, line 5 [Clause 5], at
end insert—
Mr David Laws
Lorely Burt
Danny Alexander
7
Page 21, line 28 [Clause 19], at
end insert—
Mr David Laws
Lorely Burt
Danny Alexander
John McDonnell
Kelvin Hopkins
Ms Katy Clark
Total signatories: 10
Mr Neil Gerrard
8
Page 7, line 3 [Clause 5], leave
out from ‘means’ to end of line 10 and insert ‘the
tax year 2007-2008’.
Carers’ Credit
Mr David Laws
Lorely Burt
Danny Alexander
NC18
|