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| Clause 62, page 29, line 18, at end insert— |
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| | ‘(h) | the Authority achieves delivery of a simple system of personal accounts’. |
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| | Member’s explanatory statement
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| | The purpose of this amendment is to ensure that PADA delivers a simple system of personal |
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| Clause 62, page 29, line 18, at end insert— |
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| | ‘(g) | the UN Principles for Responsible Investment should be adhered to’. |
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| | Member’s explanatory statement
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| | The purpose of this amendment is to ensure that PADA adheres to the UN Principles of |
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| | Responsible Investment as developing a capability to monitor and manage environmental, social |
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| | and governance issues increases returns and financial security. |
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| Clause 62, page 29, line 18, at end insert— |
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| | ‘(g) | international best practice on responsible ownership and environmental, |
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| | social and corporate governance issues should be considered.’. |
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| | Member’s explanatory statement
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| | The purpose of this Amendment is to ensure that the PADA investment policy follows international |
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| | best practice on responsible ownership and should consider environmental, social and corporate |
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| | governance issues when investing |
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| Clause 62, page 29, line 18, at end insert— |
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| | ‘(g) | clear and robust information and generic advice should be available to |
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| | members and future members of the scheme’. |
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| | Member’s explanatory statement
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| | The purpose of this amendment is to add an additional principle that PADA must ensure that |
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| | information and generic advice is available to consumers. |
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| Clause 62, page 29, line 20, after ‘others’, insert ‘including Opposition parties’. |
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| Clause 62, page 29, line 21, at end add— |
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| | ‘(4) | The Secretary of State shall collect and publish appropriate data annually, and |
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| | will consult with industry, to measure the extent to which the Authority has |
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| | achieved these principles in carrying out its functions. |
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| | (5) | The Secretary of State shall by regulation identify the data and targets to be used |
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| Clause 63, page 29, line 30, at end insert ‘ as soon as is practicable.’. |
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| Clause 64, page 29, line 37, leave out ‘grants’. |
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| Clause 64, page 29, line 38, leave out from ‘which’ to end of line 39 and insert |
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| ‘shall include conditions about repayment and interest at commercial rates.’. |
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| Clause 64, page 29, line 39, at end add— |
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| | ‘( ) | For the avoidance of doubt, all the costs incurred by the Authority in establishing |
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| | the pension scheme under section 50 of the Pensions Act 2008 (c. ) shall be |
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| | recouped through charges to members over a period of five years from 2012.’. |
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| Page 29, line 31, leave out Clause 64. |
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| | Member’s explanatory statement
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| | The purpose of this amendment is to ensure that a proper debate can take place on the financing |
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| Clause 68, page 32, line 4, at end insert— |
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| | ‘(1A) | In section 1 (meaning of “stakeholder pension scheme”), omit subsections (7) and |
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| | Member’s explanatory statement
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| | The purpose of this amendment is to amend the 1999 Welfare and Pensions Act by removing the |
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| | obligation for stakeholder pensions to accept transfer values, giving them discretionary freedom |
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| | to determine whether it is viable to accept certain low value funds. |
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| Clause 68, page 32, line 24, leave out ‘regular intervals’ and insert ‘intervals of less |
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| | Member’s explanatory statement
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| | This amendment is to prevent employees from rescheduling payments to very long intervals to |
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| | avoid the requirement to make auto enrolled personal acount contributions. |
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| Clause 69, page 33, line 20, leave out ‘whether oral or’. |
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| | Member’s explanatory statement
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| | This amendment seeks to prove the nature of oral contracts of employment. |
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| Clause 69, page 33, line 29, leave out ‘whether it is oral or’. |
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| | See Member’s explanatory statement for amendment 185. |
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| Clause 72, page 34, line 41, at end add ‘or a Member of the House of Lords.’. |
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| | Member’s explanatory statement
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| | This amendment is to prove the position of staff employed by peers and MP’s. |
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| Clause 73, page 35, line 7, at end insert— |
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| | ‘(c) | who is employed by a Member of Parliament.’. |
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| | Member’s explanatory statement
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| | See Member’s explanatory statement for amendment 183. |
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| Clause 74, page 35, line 21, at end insert— |
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| | ‘( ) | subsection (1) shall not apply to any member of the reserve forces who is paid for |
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| | more than six months in any three-year period.’. |
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| Clause 77, page 36, line 29, leave out ‘or 6(3)’ and insert ‘, 6(3) or [Workers |
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| without qualifying earnings](2)’. |
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| | Member’s explanatory statement
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| | This amendment is related to New Clause 8. It extends the definition of “enrolment duty” to |
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| | include a duty under that New Clause. |
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| Clause 77, page 37, line 12, at end add— |
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| | (a) | in relation to England and Wales or Scotland, is to be construed in |
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| | accordance with section 178 of the Pension Schemes Act 1993 (c. 48) |
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| | (trustees and managers of schemes: interpretation); |
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| | (b) | in relation to Northern Ireland, is to be construed in accordance with |
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| | section 173 of the Pension Schemes (Northern Ireland) Act 1993 (c. 49) |
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| | (trustees or managers of schemes);’. |
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| | Member’s explanatory statement
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| | See Member’s explanatory statement for Amendment 141. |
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| Page 37, line 20, leave out Clause 79. |
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| | Member’s explanatory statement
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| | The purpose of this amendment is to ensure that deferred pensions are not unfairly devalued. |
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| Page 57, line 10, leave out Schedule 2. |
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| | Member’s explanatory statement
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| | The purpose of this amendment is to ensure that deferred pensions are not unfairly devalued. |
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| Clause 83, page 39, line 28, after first ‘order’ insert ‘or provision’. |
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| | Member’s explanatory statement
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| | This amendment is consequential on the amendment to clause 84 which adds a reference to |
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| | provision contained in a qualifying agreement. |
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| Clause 83, page 39, line 28, at end insert ‘, or provision contained in a qualifying |
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| | Member’s explanatory statement
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| | This amendment is consequential on the amendment to clause 84 which adds a reference to |
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| | provision contained in a qualifying agreement. |
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| Clause 83, page 39, line 30, after ‘order’ insert ‘or provision’. |
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| | Member’s explanatory statement
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| | This amendment is consequential on the amendment to clause 84 which adds a reference to |
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| | provision contained in a qualifying agreement. |
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| Clause 83, page 39, line 31, after ‘order’ insert ‘or provision’. |
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| | Member’s explanatory statement
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| | This amendment is consequential on the amendment to clause 84 which adds a reference to |
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| | provision contained in a qualifying agreement. |
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| Clause 83, page 39, line 33, at end insert ‘or provision’. |
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| | Member’s explanatory statement
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| | This amendment is consequential on the amendment to clause 84 which adds a reference to |
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| | provision contained in a qualifying agreement. |
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| Clause 84, page 40, line 10, at end add— |
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| | ‘(f) | a pension compensation sharing order under section 8 of the Family Law |
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| | (Scotland) Act 1985 (c. 37) (orders for financial provision); |
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| | (g) | any provision corresponding to provision which may be made by such an |
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| | (i) | is contained in a qualifying agreement between the parties to a |
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| | marriage or the partners in a civil partnership, |
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| | (ii) | is in such form as the Secretary of State may prescribe by |
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| | (iii) | takes effect on the grant, in relation to the marriage, of decree of |
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| | divorce or a declarator or nullity or (as the case may be) on the |
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| | grant, in relation to the civil partnership, of decree of dissolution |
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| | or of declarator of nullity, |
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| | | except where the provision relates to the same rights to PPF |
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| | compensation as are the subject of an order made under section 12B(2) |
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| | of the Family Law (Scotland) Act 1985 (c. 37) (order for payment of |
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| | capital sum: pension compensation). |
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| | (2) | For the purposes of this Chapter, a qualifying agreement is an agreement which— |
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| | (a) | has been entered into in such circumstances as the Secretary of State may |
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| | prescribe by regulations, and |
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| | (b) | is registered in the Books of Council and Session.’. |
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| | Member’s explanatory statement
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| | This clause sets out sets out the possible orders a court could make which would trigger the new |
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| | pension compensation sharing scheme. The amendment extends the scheme to Scotland by adding |
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| | references to the Family Law (Scotland) Act 1985 and to provision in qualifying agreements. |
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| Clause 85, page 40, line 18, after ‘order’ insert ‘or provision’. |
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| | Member’s explanatory statement
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| | This amendment is consequential on the amendment to clause 84 which adds a reference to |
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| | provision contained in a qualifying agreement. |
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| Clause 87, page 41, line 6, after ‘order’ insert ‘or provision’. |
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| | Member’s explanatory statement
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| | This amendment is consequential on the amendment to clause 84 which adds a reference to |
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| | provision contained in a qualifying agreement. |
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| Clause 89, page 41, line 17, leave out ‘4 months’ and insert ‘2 months.’. |
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| Clause 89, page 41, line 24, after ‘order’ insert ‘or provision’. |
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| | Member’s explanatory statement
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| | This amendment is consequential on the amendment to clause 84 which adds a reference to |
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| | provision contained in a qualifying agreement. |
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| Clause 90, page 41, line 39, at end insert ‘and transferor.’. |
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