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Public Bill Committee: 29th January 2008                

208

 

Pensions Bill, continued

 
 

            

In section 84 after subsection (3) there is added—

 

“(3A)    

If any benefit as is mentioned in paragraph (a) of section 83(1) is a

 

conditional indexation benefit that benefit shall be revalued using the

 

conditional indexation method”.

 

            

In Schedule 3 (Methods of Revaluation Accrued Pension Benefit) after

 

paragraph 4 there is added—

 

“(4A)  

The conditional indexation method is to revalue the benefits which

 

have accrued to the member in respect of the pre-pension period in

 

such manner as may be prescribed”.

 

Part 2

 

Annual Increase in Rate of Pension

 

2          

The Pensions Act 1995 (c.26) (Annual Increase in Rate of Pension) is amended

 

as follows—

 

            

After section 51(1)(iii) there is added “(iv) which is not a conditionally indexed

 

scheme which complies with such requirements in relation to increases in the

 

rate of a pension as may be prescribed”.

 

Part 3

 

Restriction on Powers to Alter Schemes

 

3          

Section 67 of the Pensions Act 1995 (c.26) (Restriction to Alter Schemes), is

 

amended as follows—

 

            

After section 67(3)(b) there is added “(c) for a prescibed purpose relating to the

 

operation of a conditionally indexed scheme”.

 

Part 4

 

Pensions Compensation Provisions

 

4          

Schedule 7 to the Pensions Act 2004 (c.35) (Pensions Compensation

 

Provisions) is amended as follows—

 

            

After paragraph 2 to the Schedule there is added “2A This Schedule shall be

 

modified in relation to a conditionally indexed scheme in such manner as may

 

be prescribed.”.’.

 

 

Order of the House [7th january 2008]

 

That the following provisions shall apply to the Pensions Bill:

 

Committal

 

1.    

The Bill shall be committed to a Public Bill Committee.

 

Proceedings in Public Bill Committee

 

2.    

Proceedings in the Public Bill Committee shall (so far as not previously

 

concluded) be brought to a conclusion on Tuesday 26th February 2008.

 

3.    

The Public Bill Committee shall have leave to sit twice on the first day on

 

which it meets.


 
 

Public Bill Committee: 29th January 2008                

209

 

Pensions Bill, continued

 
 

Consideration and Third Reading

 

4.    

Proceedings on consideration shall (so far as not previously concluded) be

 

brought to a conclusion one hour before the moment of interruption on the

 

day on which those proceedings are commenced.

 

5.    

Proceedings on Third Reading shall (so far as not previously concluded) be

 

brought to a conclusion at the moment of interruption on that day.

 

6.    

Standing Order No. 83B (Programming committees) shall not apply to

 

proceedings on consideration and Third Reading.

 

Other proceedings

 

7.    

Any other proceedings on the Bill (including any proceedings on

 

consideration of Lords Amendments or on any further messages from the

 

Lords) may be programmed.

 

 

Order of the Committee [15th january 2008]

 

That—

 

(1)  

the Committee shall (in addition to its first meeting at 10.30 a.m. on Tuesday

 

15th January) meet—

 

(a)  

at 4.00 p.m. on Tuesday 15th January;

 

(b)  

at 9.00 a.m. and 1.00 p.m. on Thursday 17th January;

 

(c)  

at 10.30 a.m. and 4.00 p.m. on Tuesday 22nd January;

 

(d)  

at 9.30 a.m. and 1.00 p.m. on Thursday 24th January;

 

(e)  

at 10.30 a.m. and 4.00 p.m. on Tuesday 29th January;

 

(f)  

at 9.30 a.m. and 1.00 p.m. on Thursday 31st January;

 

(g)  

at 10.30 a.m. and 4.00 p.m. on Tuesday 5th February;

 

(h)  

at 9.30 a.m. and 1.00 p.m. on Thursday 7th February;

 

(i)  

at 10.30 a.m. and 4.00 p.m. on Tuesday 19th February;

 

(j)  

at 9.30 a.m. and 1.00 p.m. on Thursday 21st February;

 

(k)  

at 10.30 a.m. and 4.00 p.m. on Tuesday 26th February.

 

(2)  

the Committee shall hear oral evidence in accordance with the following

 

Table:

 

TABLE

 

Date

Time

Witness

 
 

Tuesday 15th January

Until no later than 12 noon

Personal Accounts Delivery

 
   

Authority

 
 

Tuesday 15th January

Until no later than 5.10 p.m.

Association of British Insurers;

 
   

National Association of Pension

 
   

Funds; Investment Management

 
   

Association

 
 

Tuesday 15th January

Until no later than 6.40 p.m.

Trades Union Congress; Equality

 
   

and Human Rights Commission;

 
   

Which?; Age Concern; Help the

 
   

Aged

 
 

Thursday 17th January

Until no later than 9.45 a.m.

Pensions Policy Institute

 
 

Thursday 17th January

Until no later than 10.25 a.m.

British Chambers of Commerce;

 
   

Federation of Small Businesses

 
 

Thursday 17th January

Until no later than 2.10 p.m.

Engineering Employers

 
   

Federation; Confederation of

 
   

British Industry; Association of

 
   

Consulting Actuaries

 
 

Thursday 17th January

Until no later than 3.15 p.m.

Pensions Commission

 
 

Thursday 17th January

Until no later than 4.45 p.m.

Department of Work and Pensions

 

 
 

Public Bill Committee: 29th January 2008                

210

 

Pensions Bill, continued

 
 

(3)  

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;

 

(4)  

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

 

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

 


 
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