|
|
| |
| |
|
| |
| |
| Thursday 7th February 2008 |
|
| For other Amendment(s) see the following page(s):
|
|
| Pensions Bill Committee 293-317 |
|
| |
| |
| |
| | |
| Clause 109, page 48, line 12, leave out ‘61’ and insert ‘60’. |
|
| | Member’s explanatory statement
|
|
| | This amendment provides for definitions applying for the purposes of clauses 50 to 56 (power to |
|
| | provide for a pension scheme) to come into force with those clauses on Royal Assent. |
|
| |
| | |
| Clause 109, page 48, line 14, at end insert ‘and Schedule 8’. |
|
| | Member’s explanatory statement
|
|
| | This amendment corrects an omission. It provides for Schedule 8 (repeals), like clause 108 which |
|
| | introduces it, to be brought into force by commencement order under clause 109(1). |
|
| | Financial assistance scheme |
|
| |
| | |
| To move the following Clause:— |
|
| | ‘(1) | Subsection (2) of section 286 of the Pensions Act 2004 (financial assistance |
|
| | scheme for members of certain pension schemes) is amended as follows. |
|
| | (2) | In the definition of “qualifying member”, for the words from “a person” to the end |
|
| | of paragraph (b) substitute “a person who, at such time as may be prescribed, is a |
|
| | member of the scheme or has ceased to be a member of the scheme,”. |
|
| | (3) | In the definition of “qualifying pension scheme” after paragraph (b) insert— |
|
| | “(ba) | the assets of which, at such time as may be prescribed, are |
|
| | insufficient to satisfy in full the liabilities of the scheme |
|
| | calculated in the prescribed manner,”. |
|
|
|
| |
| |
|
| | (4) | Omit the definition of “scheme’s pension liabilities” and the words from “and a |
|
| | qualifying pension scheme” to the end.’. |
|
| | Member’s explanatory statement
|
|
| | This New Clause extends the 'qualifying member' definition in section 286 of the Pensions Act 2004 |
|
| | (which provides for financial assistance for members of certain pension schemes), so that all rel |
|
| | evant members can be qualifying members regardless of whether their liabilities are likely to be |
|
| | |
| |
| | |
| Schedule 8, page 87, line 33, at end insert— |
|
| | |
| | Financial assistance scheme |
|
| | | | | | Pensions Act 2004 (c. 35) |
| In section 286(2) the definition of “scheme’s pension |
| | | | | liabilities” and the words from “and a qualifying |
| | | | | pension scheme” to the end.’. |
| | |
|
| | Member’s explanatory statement
|
|
| | This amendment relates to a repeal made by NC20. |
|
| | Personal account sharing on divorce |
|
| |
| |
| |
| | |
| To move the following Clause:— |
|
| | ‘(1) | Any sum may be transferred from one personal account into another personal |
|
| | |
| | (a) | a divorce or dissolution of a civil partnership leads to a court order or |
|
| | agreement by mutual consent splitting the assets of the parties concerned; |
|
| | (b) | the court order or agreement by mutual consent instructs that a proportion |
|
| | of the value of the personal account of the transferor should be made the |
|
| | property of the transferee; and |
|
| | (c) | both the transferor and the transferee hold a personal account. |
|
| | (2) | In this section “the transferor” and “the transferee” shall be defined as in section |
|
| | |
| | Member’s explanatory statement
|
|
| | This New Clause is intended to ensure fair treatment of divorcing couples or separating civil part |
|
| | ners within the personal accounts system. |
|
| |
|