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(8)	The transitional period for defined benefits and hybrid schemes is a prescribed

period beginning with the day on which section 3 comes into force.

(9)	In this section the “employer’s first enrolment date” means the first day on which

section 3 applies in the case of the employer (where that date falls within the

transitional period for defined benefits and hybrid schemes).’.

Member’s explanatory statement

This New Clause is related to Amendment 138. The purpose of this amendment is to set out how

employers using defined benefits or hybrid schemes to discharge the employer duties will be

permitted to phase in the automatic enrolment of a defined group of jobholders.

Disclosure of tax information etc

Mr Mike O’Brien

NC14

To move the following Clause:—

‘(1)	In the Pensions Act 2004 (c. 35) for section 88 (tax information) substitute—

“88	Tax information etc

(1)	This section applies to information held by the Revenue and Customs if

it is held by them in connection with a function of the Revenue and

Customs that relates to any of these matters—

(a)	tax or duty;

(b)	national insurance contributions;

(c)	the national minimum wage.

(2)	An officer of Revenue and Customs may disclose to the Regulator

information to which this section applies, if the disclosure is made for the

purpose of enabling or assisting the Regulator to discharge its functions.

(3)	Where information to which this section applies is disclosed to the

Regulator by virtue of subsection (2) above or section 19 of the Anti-

terrorism, Crime and Security Act 2001 (disclosure of information held

by revenue departments), it must, subject to subsections (4) and (5), be

treated for the purposes of section 82 as restricted information.

(4)	Information to which this section applies which is disclosed to the

Regulator as mentioned in subsection (3) may not be disclosed by the

Regulator or any person who receives the information directly or

indirectly from the Regulator except—

(a)	to, or in accordance with authority given by, the Commissioners

for Her Majesty’s Revenue and Customs,

(b)	with a view to the institution of, or otherwise for the purposes of,

any criminal proceedings,

(c)	with a view to the institution of any other proceedings by the

Regulator, or for the purposes of any such proceedings instituted

by the Regulator,

(d)	in accordance with section 84, otherwise than for the purposes of

any proceedings, or

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(e)	in the form of a summary or collection of information so framed

as not to enable information relating to any particular person to

be ascertained from it.

(5)	Accordingly sections 82(3), 83, 85 to 87 and 235, and paragraph 4 of

Schedule 10, do not apply to such information, and section 84 applies

subject to subsection (4)(d).

(6)	In subsection (4)(c) and (d), “proceedings” includes the issue of notices

or any other enforcement action taken by the Regulator under Chapter 2

of Part 1 of the Pensions Act 2008 or any other enactment.

(7)	In this section “the Revenue and Customs” and a “function of the

Revenue and Customs” have the same meaning as in section 18 of the

Commissioners for Revenue and Customs Act 2005 (confidentiality).”

(2)	In section 82 of that Act (restricted information) in subsection (3) for “88(4)”

substitute “88(4)(d)”.’.

Member’s explanatory statement

This New Clause would replace section 88 of the Pensions Act 2004 and section 88A inserted by

clause 42. It allows HMRC to disclose information on specified matters to the Regulator to enable

the Regulator to discharge its functions. Controls are placed on the Regulator’s ability to disclose

this information.

Employment Appeal Tribunal

Mr Mike O’Brien

NC15

To move the following Clause:—

In section 21(1) of the Employment Tribunals Act 1996 (jurisdiction of appeal

tribunal) after paragraph (gc) insert—

“(gd)

the Pensions Act 2008,”.’.

Member’s explanatory statement

This New Clause enables employers and workers to bring appeals to the Employment Appeal

Tribunal from decisions of an employment tribunal under the Bill.

Offence of offering financial inducements

Mr Nigel Waterson

Andrew Selous

Mr Stewart Jackson

Miss Julie Kirkbride

Mr John Greenway

NC1

To move the following Clause:—

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Pensions Bill, continued

‘An offence is committed if an employer offers financial inducements to opt out

of an automatic enrolment scheme.’.

Projections of numbers of those on means-tested benefits

Mr Nigel Waterson

Andrew Selous

Mr Stewart Jackson

Miss Julie Kirkbride

Mr John Greenway

NC2

To move the following Clause:—

‘(1)	On or before 1st April 2009 the Secretary of State shall publish his projections of

the numbers of people likely to be subject to means-tested benefits (including

housing benefit) and in ‘at risk’ groups following the introduction of personal

accounts.

(2)	If the projected figure published in accordance with subsection (1) exceeds 10 per

cent. of the pensioner population, the implementation of the scheme shall be

postponed for at least 12 months after the date of publication.

(3)	The Secretary of State shall publish any proposals for reform concurrently with

the publication of the projections under subsection (1).’

.

Restoring link with earnings

Mr Nigel Waterson

Andrew Selous

Mr Stewart Jackson

Miss Julie Kirkbride

Mr John Greenway

NC3

To move the following Clause:—

‘Before the coming into force of this Act, the Secretary of State shall announce to

Parliament his intention as to the timing of the implementation of Section 5 of the

Pensions Act 2007.’.

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Pensions Bill, continued

Transitional assistance

Mr Nigel Waterson

Andrew Selous

Mr Stewart Jackson

Miss Julie Kirkbride

Mr John Greenway

NC4

To move the following Clause:—

‘Before implementing Part 1 of this Act, the Secretary of State shall publish his

proposals to provide transitional assistance to small employers in implementing

the legislation.’.

Provision for conditional indexation

Mr Nigel Waterson

Andrew Selous

Mr Stewart Jackson

Miss Julie Kirkbride

Mr John Greenway

NC5

To move the following Clause:—

‘(1)	Schedule [Provision for conditionally indexed arrangements etc] which—

(a)	amends section 84 and Schedule 3 of the Pension Schemes Act 1993

(Basis of Revaluation);

(b)	amends section 51 of the Pensions Act 1995 (annual increase in rate of

pension);

(c)	amends section 67 of the Pensions Act 1995 (restriction on powers to

alter schemes);

(d)	amends schedule 7 to the Pension Schemes Act 2004 (pension

compensation provision); and

(e)	makes provisions for consequential amendments for the operation of

conditional indexation in relation to a scheme that satisfies prescribed

conditions,

has effect.

(2)	The amendments made by Schedule [Provision for conditionally indexed

arrangements etc] do not apply in relation to any scheme or arrangement in

existence prior to the coming into force of this section.

(3)	In this section conditional indexation relates to benefits provided by conditional

indexed scheme, which—

(a)	was established after the coming into force of this section;

(b)	is not a money purchase scheme as defined by section 181(1) of the

Pension Schemes Act of 1993;

(c)	Provides that indexation of pensions both in deferment and in payment

may be modified in accordance with prescribed requirements; and

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Pensions Bill, continued

(d)	complies with such other requirements as may be prescribed.’.

Trivial commutation limit

Danny Alexander

Paul Rowen

NC6

To move the following Clause:—

‘The Finance Act 2004 is amended as follows—

In Schedule 29, paragraph 7, subsection (4) leave out from ‘is’ to ‘of’ and insert

“2 per cent”.’.

Member’s explanatory statement

The purpose of this Clause is to ensure that the effects of means testing can be mitigated by a

doubling of the trivial commutation limit.

Role of the Information Commissioner

Danny Alexander

Paul Rowen

NC7

To move the following Clause:—

‘(1)	The Information Commissioner shall have full jurisdiction over the workings of

the Personal Accounts Delivery Authority and the Pensions Regulator.

(2)	The Secretary of State must prepare, and keep under review, a code of practice

with respect to the disclosure of information relating to pensions by public

authorities.

(3)	Before preparing or altering the code, the Secretary of State must consult—

(a)	any specified public authority;

(b)	the Information Commissioner; and

(c)	such other persons as the Secretary of State considers appropriate.

(4)	A public authority must have regard to the code in (or in connection with)

disclosing information relating to pensions.

(5)	Nothing in this section applies in relation to any disclosure by a relevant public

authority of information whose subject-matter is a matter about which provision

would be within the legislative competence of the Scottish Parliament if it were

included in an Act of the Scottish Parliament.

(6)	The Secretary of State must—

(a)	lay a copy of the code, and of any alterations to it, before Parliament; and

(b)	from time to time publish the code as for the time being in force.’.

Member’s explanatory statement

The purpose of this Clause is to ensure that the Information Commissioner can properly oversee

the workings of the personal accounts system and that a code of best practice is effective and

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Pensions Bill, continued

properly adhered to.

Retirement Income Fund

Mr Nigel Waterson

Andrew Selous

Mr Stewart Jackson

Mr John Greenway

Miss Julie Kirkbride

NC9

To move the following Clause:—

‘(1)	The Finance Act 2004 9c. 12) is amended as follows.

(2)	After section 152 (meaning of “arrangement”), insert—

“152A

Meaning of ‘Retirement Income Fund’

(1)	In this Part, a Retirement Income Fund means a scheme for the

reinvestment of savings in retirement which—

(a)	is operated by or on behalf of a person authorised to operate a

registered pension scheme,

(b)	is a scheme in which investments are approved by HM Revenue

and Customs, and

(c)	meets the conditions set out in subsections (2) to (9).

(2)	The first condition is that, subject to the other conditions in this section,

funds held in the Retirement Income Fund may be invested and

withdrawn by the member as and when he elects.

(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

2008) except in the circumstances provided for in the sixth condition.

(5)	The fourth condition is that an authorised provider must set an annual

minimum withdrawal allowance so that each member’s total income is at

least equivalent to the Minimum Retirement Income level, except in the

circumstances provided for in the sixth condition.

(6)	The fifth condition is that if a member chooses not to declare his total

annual income to the authorised provider he must withdraw funds

equivalent to the level of the Minimum Retirement Income level or his

annual maximum withdrawal allowance, whichever is the lower.

(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

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Pensions Bill, continued

level, the allowance should be set out 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.

(9)	The eighth condition is that a Retirement Income Fund, and any income

derived from it, must not be capable of assignment or surrender by the

member.’.

Member’s explanatory statement

The purpose of this amendment is to introduce measures which would allow for the creation of

Retirement Income Funds, a kind of reinvestment vehicle providing an alternative to annuities.

Withdrawal from a Retirement Income Fund

Mr Nigel Waterson

Andrew Selous

Mr Stewart Jackson

Mr John Greenway

Miss Julie Kirkbride

NC10

To move the following Clause:—

‘(1)	Section 165 of the Finance Act 2004 (c. 12) (pension rules) is amended as

follows.

(2)	In subsection (1) (which sets out the pension rules)—

(a)	in Pension Rule 4, after paragraph (a), insert—

“(aa)

a withdrawal from a Retirement Income Fund,”;

(b)	in Pension Rule 4, after the second appearance of the words “scheme

pension”, insert the words “or a withdrawal from a Retirement Income

Fund”;

(c)	in Pension Rule 6, after paragraph (a), insert—

“(aa)

a withdrawal from a Retirement Income Fund,”;

(d)	in Pension Rule 6, after the second appearance of the words “scheme

pension”, insert the words “or a withdrawal from a Retirement Income

Fund”.’.

Member’s explanatory statement

This amendment alters the Finance Act 2004 to include in its definition of pension payment

withdrawals from Retirement Income Funds, in respect of money purchase schemes.

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Revised 31 January 2008