back to previous amendments
| BARONESS HOLLIS OF HEIGHAM |
25 | Insert the following new Clause |
| "Entitlement to means-tested benefits: capital disregards for trivially commuted lump sums |
| The Secretary of State shall make Social Security (Miscellaneous Amendments) Regulations which shall provide that a lump sum trivially commuted from a personal pension, an occupational pension, a stakeholder pension or a personal account shall be disregarded for the purposes of calculating entitlement to housing benefit, council tax benefit and pension credit where a claimant is aged 60 or over." |
26 | Page 8, line 35, leave out "This section has" and insert "Subsections (2) and (3) have" |
27 | Page 8, line 36, at end insert |
"( ) | In section 176(1) of the SSCBA (instruments subject to affirmative procedure), before paragraph (a) insert |
"(za) | regulations under section 5 specifying the lower earnings limit for the tax year following the designated tax year (see section 5(4) of the Pensions Act 2007) or any subsequent tax year;"." |
28 | Page 9, line 3, leave out "This section has" and insert "Subsections (2) and (3) have" |
29 | Page 9, line 4, at end insert |
"( ) | In section 172 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (Assembly, etc. control of regulations and orders) |
(a) | in subsection (9) for "(11), (11A) and" substitute "(11) to"; and |
(b) | after subsection (11) insert |
"(11ZA) | A statutory instrument containing (whether alone or with other provisions) regulations under section 5 specifying the lower earnings limit for |
(a) | the tax year following the designated tax year (see section 5(4) of the Pensions Act 2007), or |
(b) | any subsequent tax year, |
| shall not be made unless a draft of the instrument has been laid before and approved by resolution of each House of Parliament."" |
| BARONESS TURNER OF CAMDEN
BARONESS DEAN OF THORNTON-LE-FYLDE |
30 | Page 14, line 25, at end insert |
"( ) | Following the period in subsection (1), the Secretary of State may by order vary the pensionable age for men and women in specific employments." |
| LORD OAKESHOTT OF SEAGROVE BAY
BARONESS THOMAS OF WINCHESTER
BARONESS HOLLIS OF HEIGHAM |
31 | Insert the following new Clause |
(1) | Section 5 of the SSCBA (earnings limits) is amended as follows. |
(2) | After subsection (2) insert |
"(2A) | A person's gross earnings from all sources shall be aggregated when determining whether an individual is above the lower earnings limit."" |
| LORD SKELMERSDALE
BARONESS NOAKES
BARONESS HOLLIS OF HEIGHAM |
32 | Insert the following new Clause |
( ) | Beginning in April 2014, the Government Actuary shall present a report to Parliament every five years setting out the latest evidence on trends in longevity." |
| BARONESS HOLLIS OF HEIGHAM
LORD OAKESHOTT OF SEAGROVE BAY
BARONESS DEAN OF THORNTON-LE-FYLDE |
33 | Insert the following new Clause |
| "Record keeping for future payment on residency basis |
| The Secretary of State shall by order make provision for the secure and permanent storage of relevant data held on the Electoral Register or any additional or alternative database for the purpose of enabling the possible future payment of a basic state pension on the basis of residency in the United Kingdom." |
| LORD SKELMERSDALE
BARONESS NOAKES |
34 | Insert the following new Clause |
| "Report on employment and training of older workers |
| The Secretary of State shall lay a report bi-annually before each House of Parliament |
(a) | analysing, by job sector, the number and distribution of people over 50 who are seeking work, and |
(b) | on the provision of training for people over 50." |
35 | Insert the following new Clause |
| Omit sections 101AA to 101AI of the Pension Schemes Act 1993 (c. 48)." |
36 | Page 31, leave out lines 29 to 32 and insert |
"(a) | in paragraph 5 (Category A or B retirement pension) for the figure in column (3) (increase for adult dependant) substitute ""; |
(b) | in paragraph 6 (Category C retirement pension) for the figure in column (3) (increase for adult dependant) substitute ""." |
37 | Page 32, line 38, after "allowance)" insert |
"(a) | in subsection (4) (application of subsection (5)) in paragraph (a), after "150" insert ", 150A"; |
| BARONESS NOAKES
LORD SKELMERSDALE |
38 | Page 14, line 36, leave out "if" and insert "in respect of an earner in relation to whom" |
39 | Page 15, line 3, leave out "if" and insert "in respect of a widow, widower or surviving civil partner of an earner in relation to whom" |
40 | Page 15, line 23, at end insert "in respect of rights accrued before the conversion date" |
41 | Page 16, line 16, leave out "employment" and insert "pensionable service" |
42 | Page 16, line 24, leave out "employment" and insert "pensionable service" |
43 | Page 16, leave out lines 30 and 31 |
44 | Page 17, line 8, at end insert |
"(4) | A GMP conversion is deemed to have taken place after an adjustment occurs as specified in subsection (3)." |
45 | Page 17, line 29, at end insert |
"24GA | Effect of amendment to the scheme |
| The amendment of a scheme in respect of those earners in relation to whom the conditions specified in section 24B are satisfied shall extinguish the earner's accrued rights to guaranteed minimum pensions under that scheme." |
46 | Page 18, line 37, at end insert |
"(8) | Subsection (9) applies where |
(a) | a person has been in receipt of a guaranteed minimum pension and a Category A or Category B retirement pension, |
(b) | the guaranteed minimum pension has been increased in accordance with section 15(1) of the Pension Schemes Act 1993 (c.48) or the Category A or Category B retirement pension has been increased in accordance with paragraph 5 of Schedule 5 to the SSCBA (increase of pension where commencement of guaranteed minimum pension postponed), |
(c) | the pension scheme under which the guaranteed minimum pension is paid is subject to GMP conversion (within the meaning of section 24A of the Pension Schemes Act 1993 (c.48) inserted by subsection (3) above), and |
(d) | an order under section 150(2) of the Administration Act would have applied to the person in respect of the increase mentioned in paragraph (b) above but for the scheme having been subject to GMP conversion. |
(9) | The person's Category A or Category B retirement pension shall be increased by the amount by which it would have increased as a result of the order. |
(10) | In section 186 of the Pension Schemes Act 1993 (c.48) (parliamentary control of orders and regulations) |
(a) | before subsection (3)(a) insert |
"(a) | regulations made under section 24B(5), or", |
(b) | renumber the existing paragraphs of subsection (3), and |
(c) | in subsection (4) for "(a) or (c)" substitute "(b) or (d)"." |
| BARONESS NOAKES
LORD SKELMERSDALE |
47 | Insert the following new Clause |
| "Review and alteration of reduced rates of contribution |
(1) | Section 42 of the Pension Schemes Act 1993 (c. 48) is amended as follows. |
(a) | in paragraph (a), at end of sub-paragraph (ii) insert "together with his recommendation as to whether there should be an alteration in either or both of those percentages and if so what alteration is required", |
(3) | For subsection (3) substitute |
"(3) | If the Secretary of State lays a report under subsection (1) in which the Government Actuary or the Deputy Government Actuary recommends that there should be an alteration in either or both of the percentages mentioned in section 41(1A) and (1B), the Secretary of State shall prepare and lay before each House of Parliament with the report the draft of an order making that alteration; and if the draft is approved by resolution of each House, the Secretary of State shall make the order in the form of the draft." |
48 | Insert the following new Clause |
| "Review of contracting out |
(1) | No later than 3 years after the passing of this Act, the Secretary of State shall lay before Parliament a report setting out the costs and benefits of continuing contracting out for salary related occupational pension schemes. |
(2) | In preparing the report under subsection (1), the Secretary of State shall consult |
(a) | organisations appearing to the Secretary of State to be representative of employees; |
(b) | organisations appearing to the Secretary of State to be representative of employers; |
(c) | organisations appearing to the Secretary of State to be representative of the actuarial profession; |
(d) | organisations appearing to the Secretary of State to be representative of the financial services industry; |
(e) | organisations appearing to the Secretary of State to be representative of consumer interests; and |
(f) | such other persons as the Secretary of State considers appropriate." |
49 | Page 19, line 1, leave out subsection (2) |
50 | Page 19, leave out lines 10 to 15 |
51 | Page 19, line 21, at end insert "(but any power to make regulations conferred by those amendments may be exercised at any time so as to make regulations having effect as from the abolition date)" |
52 | Page 19, line 26, leave out from "Schedule 4" to end of line 27 |
53 | Page 46, line 8, at end insert |
| " In section 20 (transfer of accrued rights) in subsection (3) (regulations may provide for certain provisions to have effect subject to modifications) for "sections 26 to 33" substitute "sections 25A to 33". |
| LORD SKELMERSDALE
BARONESS NOAKES |
54 | Page 46, line 11, leave out paragraph 8 |
55 | Page 46, line 16, leave out "or" |
56 | Page 46, line 18, at end insert ", or |
(c) | a registered pension scheme under section 153 of the Finance Act 2004 |
(i) | which is not a scheme falling within paragraph (a) or (b), and |
(ii) | to which the rights of a person who was at any time a member of a scheme mentioned in either of those paragraphs have been transferred." |
57 | Page 46, line 29, at end insert |
| " After section 27 insert |
| "27A Requirements in relation to giving effect to protected rights |
(1) | The rules of the scheme must provide that if, in the case of a member who is married or who has a civil partner, effect is to be given to the protected rights of the member by |
(a) | the provision by the scheme of a pension, or |
(b) | the purchase by the scheme of an annuity, |
| the requirement set out in subsection (2) must be satisfied in relation to the pension or annuity. |
(2) | The requirement is that, in a case where |
(a) | the member dies while the pension or annuity is payable to him or her, and |
(b) | the member is survived by a widow, widower or surviving civil partner ("the survivor"), |
| the pension or annuity is payable to the survivor in prescribed circumstances and for the prescribed period at an annual rate which at any given time is one-half of the rate at which it would have been payable to the member if the member had been living at that time. |
(3) | The rules of the scheme must provide that, if effect is to be given to a member's protected rights by the provision of a lump sum, the prescribed conditions must be satisfied. |
(4) | The rules of the scheme must provide that, if |
(a) | a member has died without effect being given to his or her protected rights, and |
(b) | the member is survived by a widow, widower or surviving civil partner, |
| effect is to be given to the protected rights in such manner as may be prescribed." |
| Omit sections 28 to 29 (ways of giving effect to protected rights etc.). |
| For section 32A substitute |
| "32A Discharge of protected rights on winding up: insurance policies |
(1) | Where an occupational pension scheme is being wound up, effect may not be given to the protected rights of a member of the scheme by taking out a policy of insurance (or a number of such policies) under which the member is the beneficiary unless the policy (or each such policy) satisfies the requirement in subsection (2). |
(2) | The requirement is that the policy of insurance makes such provision in relation to giving effect to the protected rights of the beneficiary as a scheme to which section 25A applies is required to make under or by virtue of section 27A in relation to giving effect to the protected rights of a member of the scheme."" |
58 | Page 52, line 11, at end insert |
| " In section 2 of that Act (registration of stakeholder pension schemes) in subsection (2) (when Authority to register schemes) in paragraph (b)(i) for "to (10)" substitute "to (9)"." |
59 | Page 52, line 14, at end insert |
| " In Schedule 5 to that Act (pension credits: mode of discharge) in paragraph 7(6) (disqualification as destination for pension credit) in the definition of "contracted-out rights" |
(a) | in paragraph (a), omit "or (3)"; |
(b) | after paragraph (a) insert |
"(ab) | an occupational pension scheme constituting a money purchase contracted-out scheme for the purposes of that Act, or"; |
(c) | in paragraph (b), for "which is" substitute "constituting"." |
60 | Page 53, line 23, at end insert |
| " In section 20 (transfer of accrued rights) in subsection (3) (regulations may provide for certain provisions to have effect subject to modifications) omit "and 43 to 45". |
| Omit section 31 (investment and resources of scheme)." |
61 | Page 54, leave out lines 35 to 38 and insert |
"(a) | omit the definition of "appropriate flat-rate percentage"; |
(b) | for the definition of "the percentage for contributing earners" substitute |
| ""the percentage for contributing earners" means 3 per cent;"; |
(c) | for the definition of "the percentage for non-contributing earners" substitute |
| ""the percentage for non-contributing earners" means 4.8 per cent."" |
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