House of Lords Amendments - Welfare Reform and Pensions Bill

House of Lords

Session 1998-99
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Amendments to the Welfare Reform and Pensions Bill

Welfare Reform and Pensions Bill -
Amendments to be debated in the House of Lords
Here you can browse the Amendments to the Welfare Reform and Pensions Bill to be moved on Report in the House of Lords.

Clause 25

BY THE LORD HIGGINS
THE BARONESS BUSCOMBE
THE LORD ASTOR OF HEVER

     Page 29, line 8, leave out ("2") and insert ("3")

     Page 29, line 34, leave out ("2") and insert ("3")

Clause 26

BY THE LORD HIGGINS
THE BARONESS BUSCOMBE
THE LORD ASTOR OF HEVER

     Page 29, line 42, leave out paragraph (a) and insert ("(a) the transferor's shareable rights under the relevant arrangement become subject to a debit calculated in accordance with section 28, and")

Clause 28

BY THE LORD HIGGINS
THE BARONESS BUSCOMBE
THE LORD ASTOR OF HEVER

     Page 31, line 2, leave out subsection (1) and insert ("(1) Subject to subsection (2A), where a person's shareable rights under a pension arrangement are subject to a pension debit--
(a)  any shareable rights that are accrued rights to qualifying money purchase benefits are reduced on the transfer day by the appropriate percentage, and

(b)  subject to subsection (2), any other qualifying benefit or future benefit to which he is entitled under the arrangement by virtue of those rights is reduced by the appropriate percentage.")

     Page 31, line 11, after ("future benefit") insert ("to which subsection (1)(b) applies")

     Page 31, line 16, at end insert (", that would have been payable in the same circumstances had his pensionable service terminated on the day before the transfer day")

     Page 31, line 16, at end insert--

    ("2A)  Where a person whose rights under a pension arrangement become subject to a pension debit, any pension debit in terms of this section shall be ignored for the purposes of calculating any benefit payable in respect of that person which is not a qualifying benefit.")

     Page 31, line 17, leave out ("and (2)") and insert ("to (2A)")

Clause 29

BY THE LORD HIGGINS
THE BARONESS BUSCOMBE
THE LORD ASTOR OF HEVER

     Page 32, line 9, leave out subsection (3)

     Page 32, line 46, leave out ("any reduction under section 15A") and insert ("a pension debit")

Clause 43

BY THE LORD HIGGINS
THE BARONESS BUSCOMBE
THE LORD ASTOR OF HEVER

     Page 47, line 36, at end insert--
(""accrued rights" has the meaning given by section 124(2) of the Pensions Act 1995; and "money purchase benefits" has the meaning given by section 181 of the Pension Schemes Act 1993;")

     Page 48, line 32, after ("subsection (1)") insert ("where the benefits secured by the annuity are payable to the trustees of a trust, to the trustees of that trust and where the benefits secured by the annuity are payable to the beneficiaries")

     Page 48, line 34, after ("that expression") insert ("where the benefits secured by the policy are payable to the trustees of a trust, to the trustees of that trust and where the benefits secured by the policy are payable to the beneficiaries")

Schedule 12

BY THE LORD HIGGINS
THE BARONESS BUSCOMBE
THE LORD ASTOR OF HEVER

     Page 147, line 43, at end insert--

    ("37A.--(1) Section 111 is amended as follows.

    (2)  After subsection (3), there is inserted--
    (4)  This section does not apply to a member who is a pension credit member."")

© Parliamentary copyright 1999
Prepared 29 September 1999

	Clause 25
	BY THE LORD HIGGINS THE BARONESS BUSCOMBE THE LORD ASTOR OF HEVER
	Page 29, line 8, leave out ("2") and insert ("3")
	Page 29, line 34, leave out ("2") and insert ("3")
	Clause 26
	BY THE LORD HIGGINS THE BARONESS BUSCOMBE THE LORD ASTOR OF HEVER
	Page 29, line 42, leave out paragraph (a) and insert ("(a) the transferor's shareable rights under the relevant arrangement become subject to a debit calculated in accordance with section 28, and")
	Clause 28
	BY THE LORD HIGGINS THE BARONESS BUSCOMBE THE LORD ASTOR OF HEVER
	Page 31, line 2, leave out subsection (1) and insert ("(1) Subject to subsection (2A), where a person's shareable rights under a pension arrangement are subject to a pension debit-- (a) any shareable rights that are accrued rights to qualifying money purchase benefits are reduced on the transfer day by the appropriate percentage, and (b) subject to subsection (2), any other qualifying benefit or future benefit to which he is entitled under the arrangement by virtue of those rights is reduced by the appropriate percentage.")
	Page 31, line 11, after ("future benefit") insert ("to which subsection (1)(b) applies")
	Page 31, line 16, at end insert (", that would have been payable in the same circumstances had his pensionable service terminated on the day before the transfer day")
	Page 31, line 16, at end insert-- ("2A) Where a person whose rights under a pension arrangement become subject to a pension debit, any pension debit in terms of this section shall be ignored for the purposes of calculating any benefit payable in respect of that person which is not a qualifying benefit.")
	Page 31, line 17, leave out ("and (2)") and insert ("to (2A)")
	Clause 29
	BY THE LORD HIGGINS THE BARONESS BUSCOMBE THE LORD ASTOR OF HEVER
	Page 32, line 9, leave out subsection (3)
	Page 32, line 46, leave out ("any reduction under section 15A") and insert ("a pension debit")
	Clause 43
	BY THE LORD HIGGINS THE BARONESS BUSCOMBE THE LORD ASTOR OF HEVER
	Page 47, line 36, at end insert-- (""accrued rights" has the meaning given by section 124(2) of the Pensions Act 1995; and "money purchase benefits" has the meaning given by section 181 of the Pension Schemes Act 1993;")
	Page 48, line 32, after ("subsection (1)") insert ("where the benefits secured by the annuity are payable to the trustees of a trust, to the trustees of that trust and where the benefits secured by the annuity are payable to the beneficiaries")
	Page 48, line 34, after ("that expression") insert ("where the benefits secured by the policy are payable to the trustees of a trust, to the trustees of that trust and where the benefits secured by the policy are payable to the beneficiaries")
	Schedule 12
	BY THE LORD HIGGINS THE BARONESS BUSCOMBE THE LORD ASTOR OF HEVER
	Page 147, line 43, at end insert-- ("37A.--(1) Section 111 is amended as follows. (2) After subsection (3), there is inserted-- (4) This section does not apply to a member who is a pension credit member."")