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Public Bill Committee: 5th February 2008                

262

 

Pensions Bill, continued

 
 

Danny Alexander

 

Paul Rowen

 

109

 

Clause  62,  page  29,  line  18,  at end insert—

 

‘(h)    

the Authority achieves delivery of a simple system of personal accounts’.

 

Member’s explanatory statement

 

The purpose of this amendment is to ensure that PADA delivers a simple system of personal

 

accounts.

 

Danny Alexander

 

Paul Rowen

 

110

 

Clause  62,  page  29,  line  18,  at end insert—

 

‘(g)    

the UN Principles for Responsible Investment should be adhered to’.

 

Member’s explanatory statement

 

The purpose of this amendment is to ensure that PADA adheres to the UN Principles of

 

Responsible Investment as developing a capability to monitor and manage environmental, social

 

and governance issues increases returns and financial security.

 

Nick Ainger

 

159

 

Clause  62,  page  29,  line  18,  at end insert—

 

‘(g)    

international best practice on responsible ownership and environmental,

 

social and corporate governance issues should be considered.’.

 

Member’s explanatory statement

 

The purpose of this Amendment is to ensure that the PADA investment policy follows international

 

best practice on responsible ownership and should consider environmental, social and corporate

 

governance issues when investing

 

Danny Alexander

 

Paul Rowen

 

163

 

Clause  62,  page  29,  line  18,  at end insert—

 

‘(g)    

clear and robust information and generic advice should be available to

 

members and future members of the scheme’.

 

Member’s explanatory statement

 

The purpose of this amendment is to add an additional principle that PADA must ensure that

 

information and generic advice is available to consumers.

 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

47

 

Clause  62,  page  29,  line  20,  after ‘others’, insert ‘including Opposition parties’.

 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

48

 

Clause  62,  page  29,  line  21,  at end add—


 
 

Public Bill Committee: 5th February 2008                

263

 

Pensions Bill, continued

 
 

‘(4)    

The Secretary of State shall collect and publish appropriate data annually, and

 

will consult with industry, to measure the extent to which the Authority has

 

achieved these principles in carrying out its functions.

 

(5)    

The Secretary of State shall by regulation identify the data and targets to be used

 

for this purpose.’.

 


 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

49

 

Clause  63,  page  29,  line  30,  at end insert ‘ as soon as is practicable.’.

 


 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

50

 

Clause  64,  page  29,  line  37,  leave out ‘grants’.

 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

51

 

Clause  64,  page  29,  line  38,  leave out from ‘which’ to end of line 39 and insert

 

‘shall include conditions about repayment and interest at commercial rates.’.

 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

52

 

Clause  64,  page  29,  line  39,  at end add—

 

‘( )    

For the avoidance of doubt, all the costs incurred by the Authority in establishing

 

the pension scheme under section 50 of the Pensions Act 2008 (c. ) shall be

 

recouped through charges to members over a period of five years from 2012.’.


 
 

Public Bill Committee: 5th February 2008                

264

 

Pensions Bill, continued

 
 

Danny Alexander

 

Paul Rowen

 

111

 

Page  29,  line  31,  leave out Clause 64.

 

Member’s explanatory statement

 

The purpose of this amendment is to ensure that a proper debate can take place on the financing

 

of PADA.

 


 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Mr John Greenway

 

Miss Julie Kirkbride

 

158

 

Clause  68,  page  32,  line  4,  at end insert—

 

‘(1A)    

In section 1 (meaning of “stakeholder pension scheme”), omit subsections (7) and

 

(8).’.

 

Member’s explanatory statement

 

The purpose of this amendment is to amend the 1999 Welfare and Pensions Act by removing the

 

obligation for stakeholder pensions to accept transfer values, giving them discretionary freedom

 

to determine whether it is viable to accept certain low value funds.

 

Andrew Selous

 

Mr Nigel Waterson

 

182

 

Parliamentary Star    

Clause  68,  page  32,  line  24,  leave out ‘regular intervals’ and insert ‘intervals of less

 

than one year’.

 

Member’s explanatory statement

 

This amendment is to prevent employees from rescheduling payments to very long intervals to

 

avoid the requirement to make auto enrolled personal acount contributions.

 


 

Andrew Selous

 

Mr Nigel Waterson

 

185

 

Parliamentary Star    

Clause  69,  page  33,  line  20,  leave out ‘whether oral or’.

 

Member’s explanatory statement

 

This amendment seeks to prove the nature of oral contracts of employment.

 

Andrew Selous

 

Mr Nigel Waterson

 

186

 

Parliamentary Star    

Clause  69,  page  33,  line  29,  leave out ‘whether it is oral or’.

 

Member’s explanatory statement

 

See Member’s explanatory statement for amendment 185.

 



 
 

Public Bill Committee: 5th February 2008                

265

 

Pensions Bill, continued

 
 

Andrew Selous

 

Mr Nigel Waterson

 

183

 

Parliamentary Star    

Clause  72,  page  34,  line  41,  at end add ‘or a Member of the House of Lords.’.

 

Member’s explanatory statement

 

This amendment is to prove the position of staff employed by peers and MP’s.

 


 

Andrew Selous

 

Mr Nigel Waterson

 

184

 

Parliamentary Star    

Clause  73,  page  35,  line  7,  at end insert—

 

‘(c)    

who is employed by a Member of Parliament.’.

 

Member’s explanatory statement

 

See Member’s explanatory statement for amendment 183.

 


 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

6

 

Clause  74,  page  35,  line  21,  at end insert—

 

‘( )    

subsection (1) shall not apply to any member of the reserve forces who is paid for

 

more than six months in any three-year period.’.

 


 

Mr Mike O’Brien

 

134

 

Clause  77,  page  36,  line  29,  leave out ‘or 6(3)’ and insert ‘, 6(3) or [Workers

 

without qualifying earnings](2)’.

 

Member’s explanatory statement

 

This amendment is related to New Clause 8. It extends the definition of “enrolment duty” to

 

include a duty under that New Clause.


 
 

Public Bill Committee: 5th February 2008                

266

 

Pensions Bill, continued

 
 

Mr Mike O’Brien

 

142

 

Clause  77,  page  37,  line  12,  at end add—

 

    

‘“trustee or manager”—

 

(a)    

in relation to England and Wales or Scotland, is to be construed in

 

accordance with section 178 of the Pension Schemes Act 1993 (c. 48)

 

(trustees and managers of schemes: interpretation);

 

(b)    

in relation to Northern Ireland, is to be construed in accordance with

 

section 173 of the Pension Schemes (Northern Ireland) Act 1993 (c. 49)

 

(trustees or managers of schemes);’.

 

Member’s explanatory statement

 

See Member’s explanatory statement for Amendment 141.

 

Danny Alexander

 

Paul Rowen

 

112

 

Page  37,  line  20,  leave out Clause 79.

 

Member’s explanatory statement

 

The purpose of this amendment is to ensure that deferred pensions are not unfairly devalued.

 


 

Danny Alexander

 

Paul Rowen

 

113

 

Page  57,  line  10,  leave out Schedule 2.

 

Member’s explanatory statement

 

The purpose of this amendment is to ensure that deferred pensions are not unfairly devalued.

 


 

Mr Mike O’Brien

 

164

 

Parliamentary Star - white    

Clause  83,  page  39,  line  28,  after first ‘order’ insert ‘or provision’.

 

Member’s explanatory statement

 

This amendment is consequential on the amendment to clause 84 which adds a reference to

 

provision contained in a qualifying agreement.

 

Mr Mike O’Brien

 

165

 

Parliamentary Star - white    

Clause  83,  page  39,  line  28,  at end insert ‘, or provision contained in a qualifying

 

agreement,’.

 

Member’s explanatory statement

 

This amendment is consequential on the amendment to clause 84 which adds a reference to

 

provision contained in a qualifying agreement.


 
 

Public Bill Committee: 5th February 2008                

267

 

Pensions Bill, continued

 
 

Mr Mike O’Brien

 

166

 

Parliamentary Star - white    

Clause  83,  page  39,  line  30,  after ‘order’ insert ‘or provision’.

 

Member’s explanatory statement

 

This amendment is consequential on the amendment to clause 84 which adds a reference to

 

provision contained in a qualifying agreement.

 

Mr Mike O’Brien

 

167

 

Parliamentary Star - white    

Clause  83,  page  39,  line  31,  after ‘order’ insert ‘or provision’.

 

Member’s explanatory statement

 

This amendment is consequential on the amendment to clause 84 which adds a reference to

 

provision contained in a qualifying agreement.

 

Mr Mike O’Brien

 

168

 

Parliamentary Star - white    

Clause  83,  page  39,  line  33,  at end insert ‘or provision’.

 

Member’s explanatory statement

 

This amendment is consequential on the amendment to clause 84 which adds a reference to

 

provision contained in a qualifying agreement.

 


 

Mr Mike O’Brien

 

169

 

Parliamentary Star - white    

Clause  84,  page  40,  line  10,  at end add—

 

‘(f)    

a pension compensation sharing order under section 8 of the Family Law

 

(Scotland) Act 1985 (c. 37) (orders for financial provision);

 

(g)    

any provision corresponding to provision which may be made by such an

 

order, and which—

 

(i)    

is contained in a qualifying agreement between the parties to a

 

marriage or the partners in a civil partnership,

 

(ii)    

is in such form as the Secretary of State may prescribe by

 

regulations, and

 

(iii)    

takes effect on the grant, in relation to the marriage, of decree of

 

divorce or a declarator or nullity or (as the case may be) on the

 

grant, in relation to the civil partnership, of decree of dissolution

 

or of declarator of nullity,

 

    

except where the provision relates to the same rights to PPF

 

compensation as are the subject of an order made under section 12B(2)

 

of the Family Law (Scotland) Act 1985 (c. 37) (order for payment of

 

capital sum: pension compensation).

 

(2)    

For the purposes of this Chapter, a qualifying agreement is an agreement which—

 

(a)    

has been entered into in such circumstances as the Secretary of State may

 

prescribe by regulations, and

 

(b)    

is registered in the Books of Council and Session.’.

 

Member’s explanatory statement

 

This clause sets out sets out the possible orders a court could make which would trigger the new

 

pension compensation sharing scheme. The amendment extends the scheme to Scotland by adding


 
 

Public Bill Committee: 5th February 2008                

268

 

Pensions Bill, continued

 
 

references to the Family Law (Scotland) Act 1985 and to provision in qualifying agreements.

 


 

Mr Mike O’Brien

 

170

 

Parliamentary Star - white    

Clause  85,  page  40,  line  18,  after ‘order’ insert ‘or provision’.

 

Member’s explanatory statement

 

This amendment is consequential on the amendment to clause 84 which adds a reference to

 

provision contained in a qualifying agreement.

 


 

Mr Mike O’Brien

 

171

 

Parliamentary Star - white    

Clause  87,  page  41,  line  6,  after ‘order’ insert ‘or provision’.

 

Member’s explanatory statement

 

This amendment is consequential on the amendment to clause 84 which adds a reference to

 

provision contained in a qualifying agreement.

 


 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

7

 

Clause  89,  page  41,  line  17,  leave out ‘4 months’ and insert ‘2 months.’.

 

Mr Mike O’Brien

 

172

 

Parliamentary Star - white    

Clause  89,  page  41,  line  24,  after ‘order’ insert ‘or provision’.

 

Member’s explanatory statement

 

This amendment is consequential on the amendment to clause 84 which adds a reference to

 

provision contained in a qualifying agreement.

 


 

Mr Nigel Waterson

 

Andrew Selous

 

Mr Stewart Jackson

 

Miss Julie Kirkbride

 

Mr John Greenway

 

8

 

Clause  90,  page  41,  line  39,  at end insert ‘and transferor.’.


 
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