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Public Bill Committee: 21st February 2008                



Pensions Bill, continued



the proceedings on consideration of the Bill in Committee shall be taken in


the following order: Clauses 1 to 57; Schedule 1; Clauses 58 to 79; Schedule


2; Clause 80; Schedule 3; Clauses 81 to 90; Schedule 4; Clauses 91 to 94;


Schedule 5; Clauses 95 and 96, Schedule 6; Clauses 97 and 98; Schedule 7;


Clauses 99 to 108; Schedule 8; Clauses 109 to 111; new Clauses; new


Schedules; remaining proceedings on the Bill;



the proceedings shall (so far as not previously concluded) be brought to a


conclusion at 7.00 p.m. on Tuesday 26th February.





The following Notices have been withdrawn:


Pension compensation for early retirees


Miss Julie Kirkbride




To move the following Clause:—


‘The Secretary of State shall have power by regulation to require the Board of the


Pension Protection Fund to provide PPF compensation on the following terms—



eligible persons who took early retirement before April 2005 shall be treated as if


the date of their early retirement was their normal retirement date; and



an upper limit shall be placed on eligible earnings for eligible persons who have


reached their normal retirement age at a level that will compensate for any costs


incurred under subsection (1).’.


Member’s explanatory statement


This amendment seeks to remedy the present situation where pre-2005 early retirees face a large


cut in pension provision as they take a further reduction for being below the NRA and the


introduction of a cap. They receive little indexation as most of their pensions were earned before


April 1997.


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Revised 21 February 2008