Pensions Bill

House of Commons portcullis

House of Commons

Session 2007 - 08
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Other Bills before Parliament

Pensions Bill

Pensions Bill

[AS AMENDED IN PUBLIC BILL COMMITTEE]

Contents
Part 1
Pension scheme membership for jobholders
Chapter 1
Employers’ duties
Jobholders
1
Jobholders
Employers’ duties
2
Continuity of scheme membership
3
Automatic enrolment
4
Postponement of automatic enrolment
5
Automatic re-enrolment
6
Jobholder’s right to opt in
7
Jobholder’s right to opt out
Duty in relation to workers without qualifying earnings
8
Workers without qualifying earnings
Supplementary provision about the duties
9
Information to be given to jobholders
10
Information to be given to the Pensions Regulator
11
Introduction of employers’ duties
Qualifying earnings
12
Qualifying earnings
13
Review of qualifying earnings band
14
Pay reference period

Bill 75
54/3

Pensions Bill
ii

Qualifying schemes and automatic enrolment schemes
15
Qualifying schemes
16
Automatic enrolment schemes
17
Occupational pension schemes
18
Personal pension schemes
Quality requirements
19
Quality requirement: UK money purchase schemes
20
Quality requirement: UK defined benefits schemes
21
Test scheme standard
22
Test scheme
23
Quality requirement: UK hybrid schemes
24
Quality requirement: non-UK occupational pension schemes
25
Quality requirement: personal pension schemes
Transitional
26
Transitional periods for money purchase and personal pension schemes
27
Transitional period for defined benefits and hybrid schemes
Miscellaneous
28
Power of trustees to modify by resolution
29
Deduction of contributions
Chapter 2
Compliance
Effect of failure to comply
30
Effect of failure to comply
Compliance notices and unpaid contributions notices
31
Compliance notices
32
Third party compliance notices
33
Unpaid contributions notices
34
Calculation and payment of contributions
Penalty notices
35
Fixed penalty notices
36
Escalating penalty notices
37
Penalty notices: recovery
Review and appeal
38
Review of notices
39
References to the Pensions Regulator Tribunal

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Offences
40
Offences of failing to comply
41
Offences of providing false or misleading information
42
Monitoring of employers’ payments to personal pension schemes
Records and information
43
Requirement to keep records
44
Powers to require information and to enter premises
45
Disclosure of tax information etc
46
Information for private pensions policy and retirement planning
47
Penalty for disclosure
Objectives of the Regulator
48
Objectives of the Regulator
Chapter 3
Employment and pre-employment protection
Prohibited recruitment conduct
49
Prohibited recruitment conduct
50
Compliance notices
51
Penalty notices
52
Review of notices and references to Pensions Regulator Tribunal
Protection of employment rights
53
The right not to suffer detriment
54
Enforcement of the right
55
Right of employee not to be unfairly dismissed
56
Restrictions on agreements to limit operation of this Part
Employment Appeal Tribunal
57
Employment Appeal Tribunal
Chapter 4
Power to establish a pension scheme
Pension scheme
58
Power to provide for a pension scheme
59
Scheme orders: general
60
Consultation of members and employers
61
Contribution limits
62
Procedure for scheme orders
63
Procedure for rules
64
Application of enactments

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Trustee corporation
65
Trustee corporation
66
Functions
67
Application of enactments
Interpretation
68
Interpretation of Chapter
Chapter 5
Personal Accounts Delivery Authority
Functions of the Authority
69
Functions
70
Principles
71
Directions and guidance
72
Finance
73
Disclosure of information by the Pensions Regulator
Non-executive committee
74
Non-executive committee
Winding up
75
Winding up of the Authority
Chapter 6
Stakeholder pension schemes
76
Stakeholder pension schemes
Chapter 7
Interpretation
“Employee", “worker” etc.
77
“Employee”, “worker” and related expressions
78
Agency workers
79
Crown employment
80
House of Lords staff
81
House of Commons staff
82
Exception for reserve and volunteer forces
83
Exception for share fishermen
84
Extension of definition of worker
General
85
Interpretation of Part

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Part 2
Simplification etc
Private pensions
86
Abolition of safeguarded rights
87
Revaluation of accrued benefits etc
State pensions etc
88
Additional State Pension consolidation: Category A and graduated
retirement benefit
89
State pension credit: extension of assessed income period for those aged 75 or
over
Part 3
Pension compensation
Chapter 1
Pension compensation on divorce etc
90
Scope of mechanism
91
Interpretation
92
Activation of pension compensation sharing
93
Creation of pension compensation debits and credits
94
Cash equivalents
95
Reduction of compensation
96
Time for discharge of liability
97
“Implementation period”
98
Discharge of liability
99
Charges in respect of pension compensation sharing costs
100
Supply of information about pension compensation in relation to divorce etc
101
Supply of information about pension compensation sharing
102
Pension compensation sharing and attachment on divorce etc
103
Consequential amendment
Chapter 2
Other provision about pension compensation
104
Amendments of Schedule 7 to the Pensions Act 2004
Part 4
Financial assistance scheme
105
Financial assistance scheme

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Part 5
Miscellaneous
106
Pension sharing: power of Court of Session to extend time limits
107
Interest on late payment of levies
108
Appointment of trustees
109
Intervention by Regulator where scheme’s technical provisions improperly
determined
110
Exclusion of transfers out in certain cases
111
Official pensions: adjustment of increases in survivors’ pensions
112
War pensions: effect of later marriage or civil partnership
113
Polish Resettlement Act 1947: effect of residence in Poland
Part 6
General
114
Orders and regulations
115
Orders and regulations: supplementary
116
Power to make further provision
117
General financial provisions
118
Repeals
119
Commencement
120
Extent
121
Short title
Schedule 1   —
The trustee corporation
Part 1   —
Members and employees
Part 2   —
Proceedings etc.
Part 3   —
Money
Part 4   —
Supplementary
Schedule 2   —
Revaluation of accrued benefits etc
Part 1   —
Revaluation of accrued pension benefits
Part 2   —
Revaluation of accrued amounts etc
Part 3   —
Consequential amendments
Schedule 3   —
Additional pension consolidation
Schedule 4   —
Pension compensation payable on discharge of pension
compensation credit
Part 1   —
Introductory
Part 2   —
Transferee attains pension compensation age before or on
transfer day
Part 3   —
Transferee attains pension compensation age after transfer
day
Part 4   —
Provisions applicable irrespective of age of transferee on
transfer day
Schedule 5   —
Pension compensation on divorce etc: England and Wales
Part 1   —
Amendments of the Matrimonial Causes Act 1973
Part 2   —
Amendments of the Matrimonial and Family Proceedings Act
1984
Part 3   —
Amendments of the Civil Partnership Act 2004

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Schedule 6   —
Pension compensation on divorce etc: Scotland
Schedule 7   —
Amendments of Schedule 7 to the Pensions Act 2004
Schedule 8   —
Interest on late payment of levies
Schedule 9   —
Repeals
Part 1   —
Pension scheme membership for jobholders
Part 2   —
Safeguarded rights
Part 3   —
Financial assistance scheme
Part 4   —
Pension compensation
Part 5   —
Miscellaneous

© Parliamentary copyright 2008
Revised 25 February 2008