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| | Clause 1, page 1, line 9, leave out ‘and under 25’. |
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| | Clause 14, page 7, line 9, leave out paragraph (c). |
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| | Clause 15, page 7, line 22, leave out ‘or to provide any information’. |
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| | Clause 16, page 7, line 33, leave out paragraph (c). |
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| | Clause 17, page 7, line 40, at end add— |
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| | | ‘(c) | a pension scheme that is prescribed or is of a prescribed description and |
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| | | that has its main administration elsewhere than in an EEA State. |
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| | Clause 74, page 35, line 21, at end insert ‘subsection (1) shall not apply to any |
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| | member of the reserve forces who is paid for more than six months in any three-year |
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| | Clause 89, page 41, line 17, leave out ‘4 months’ and insert ‘2 months.’. |
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| | Clause 90, page 41, line 39, at end insert ‘and transferor.’. |
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| | Clause 90, page 42, line 12, leave out subsection (8). |
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| | Clause 91, page 42, line 24, leave out paragraph (a). |
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| | | Offence of offering financial inducements |
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| | To move the following Clause:— |
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| | | ‘An offence is committed if an employer offers financial inducements to opt out |
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| | | of an automatic enrolment scheme.’. |
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| | Clause 2, page 2, line 4, leave out ‘, or make any ommission,’. |
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| | Clause 3, page 2, line 27, leave out ‘may’ and insert ‘shall within three months of |
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| | this Act receiving Royal Assent.’. |
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| | Clause 3, page 2, line 27, leave out subsection (5) and insert— |
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| | | ‘( ) | Subsection (2) does not apply if there are prescribed arrangements under which |
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| | | the jobholder is entitled to become an active member, with effect from the |
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| | | automatic enrolment date, of a qualifying scheme which is a personal pension |
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| | | scheme of a prescribed description. |
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| | | ( ) | An order will be made under this section to prescribe the terms under which it is |
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| | | applicable, and the basis on which its application may be withdrawn with respect |
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| | | to specific scheme providers or employers.’. |
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| | Clause 4, page 3, line 15, at end add— |
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| | | ‘(7) | The lenght of any such postponement shall not exceed 6 months.’. |
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| | Clause 5, page 3, line 34, leave out from ‘that’ to end of line 35 and insert ‘fall at |
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| | the beginning of the tax year in any relevant year for all jobholders.’. |
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| | | Projections of numbers of those on means-tested benefits |
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| | To move the following Clause:— |
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| | | ‘(1) | On or before 1st April 2009 the Secretary of State shall publish his projections of |
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| | | the numbers of people likely to be subject to means-tested benefits (including |
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| | | housing benefit) and in ‘at risk’ groups following the introduction of personal |
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| | | (2) | If the projected figure published in accordance with subsection (1) exceeds 10 per |
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| | | cent. of the pensioner population, the implementation of the scheme shall be |
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| | | postponed for at least 12 months after the date of publication. |
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| | | (3) | The Secretary of State shall publish any proposals for reform concurrently with |
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| | | the publication of the projections under subsection (1).’ |
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| | Clause 8, page 5, line 7, at end add— |
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| | | ‘(3) | The information so given must include whether the jobholder is likely to benefit |
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| | | by reason of being auto-enrolled. |
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| | | (4) | For the purposes of this section ‘benefit’ shall be defined as the jobholder |
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| | | recovering all contributions to the scheme as well as an additional return the |
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| | | extent of which the Secretary of State shall by regulation define.’. |
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| | Clause 11, page 6, line 4, leave out ‘wages, commission, bonuses and overtime’ |
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| | Clause 11, page 6, line 11, leave out paragraph (f). |
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| | Clause 11, page 6, line 11, at end add— |
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| | | ‘(4) | For the purposes of scheme contributions by and on behalf of members of a |
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| | | qualifying scheme other than that established by Chapter 4 of this Act, |
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| | | subsections 11(1) to (3) may be disregarded if contributions are calculated and |
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| | | made in relation to the individual’s basic earnings.’. |
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| | Clause 12, page 6, line 15, leave out subsection (2). |
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| | Clause 12, page 6, line 17, leave out ‘may in particular’ and insert ‘shall’. |
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| | Clause 13, page 6, line 27, leave out from beginning to ‘twelve’ in line 27. |
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| | Clause 20, page 9, line 4, leave out subsection (3). |
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| | Clause 30, page 13, line 2, at end add— |
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| | | ‘(g) | require the employer to pay interest in respect of any period for which |
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| | | contributions remain unpaid.’. |
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| | Clause 50, page 24, line 10, after ‘scheme’ insert ‘which shall commence operation |
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| | with effect from 1st April 2012’. |
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| | Clause 51, page 25, line 15, leave out subsection (5). |
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| | Clause 52, page 25, line 26, leave out ‘by order under section 50, or’. |
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| | Clause 53, page 25, line 34, at end insert ‘save that the employers’ contribution |
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| | shall be fixed at 3 per cent. of the amount of jobholders’ qualifying earnings in any pay |
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| | Clause 53, page 26, line 1, leave out subsection (3) and insert— |
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| | | ‘(3) | There shall be an absolute prohibition on transfers between the pension scheme |
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| | | established under section 50 and other pension or savings schemes, and jobholder |
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| | | contributions shall be limited to £3,600 in any one year.’. |
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| | Clause 53, page 26, line 1, leave out subsection (3). |
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| | | Restoring link with earnings |
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| | To move the following Clause:— |
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| | | ‘Before the coming into force of this Act, the Secretary of State shall announce to |
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| | | Parliament his intention as to the timing of the implementation of Section 5 of the |
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| | Clause 55, page 26, line 19, leave out ‘have regard to’ and insert ‘take account of’. |
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| | Clause 57, page 27, line 12, leave out subsection (3). |
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| | Clause 58, page 27, line 26, leave out paragraph (b). |
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| | Clause 58, page 27, line 28, leave out subsection (4). |
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| | Clause 61, page 28, line 23, leave out paragraph (b). |
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| | Clause 61, page 28, line 36, leave out paragraph (b). |
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| | Clause 61, page 28, line 37, leave out subsection (7). |
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| | Clause 62, page 29, line 2, leave out ‘have regard to’ and insert ‘at all times comply |
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| | Clause 62, page 29, line 5, leave out ‘qualifying’ and insert ‘occupational and |
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| | Clause 62, page 29, line 6, at end insert ‘, and the Authority shall at no time seek to |
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| | provide financial products beyond the scope of personal accounts;’. |
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| | Clause 62, page 29, line 11, at end insert ‘, and in particular the Authority shall |
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| | seek to optimise levels of participation and contribution among the target group, |
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| | especially those on low incomes and who are not currently saving at all, or enough, for |
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| | Clause 62, page 29, line 9, leave out ‘qualifying’ and insert ‘occupational and |
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| | Clause 62, page 29, line 13, at end insert ‘and initially based on an annual |
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| | management charge of no more than 0.3 per cent. per annum.’. |
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| | Clause 62, page 29, line 14, after ‘the’ insert ‘needs and’. |
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