Pensions Bill
MARSHALLED
LIST OF AMENDMENTS
TO BE MOVED
ON REPORT
The amendments have been marshalled in accordance with the Order of 17th May 2007, as follows—
Clauses 1 to 11
Schedule 2
Clauses 12 and 13
Schedule 3
Schedule 1
Clauses 14 and 15
Schedule 4 | Clauses 16 and 17
Schedule 5
Clauses 18 to 32
Schedule 6
Clauses 33 to 38
Schedule 7
Clauses 39 to 42 |
[Amendments marked * are new or have been altered]
Amendment
No.
| | BARONESS HOLLIS OF HEIGHAM
BARONESS O'CATHAIN
LORD OAKESHOTT OF SEAGROVE BAY |
| 1 | Page 2, line 36, at end insert— |
| "( ) | In sub-paragraph (2), the term "working life" includes periods where a contributor is earning while entitled to be paid a Category A or Category B retirement pension."" |
| | BARONESS HOLLIS OF HEIGHAM
BARONESS DEAN OF THORNTON-LE-FYLDE
BARONESS O'CATHAIN |
| 2 | Page 2, line 36, at end insert— |
| "( ) | With effect from the commencement of this section or 1st November 2007, whichever shall be earlier, the contributor may at any time up to state pension age, make voluntary (Class 3) contributions for any period of his or her working life, in respect of up to 9 years, whether consecutive or not, which for any reason shall not have satisfied the conditions for a Qualifying Year or Years, so that such year or years shall then be deemed to be a Qualifying Year or Years."" |
| | LORD SKELMERSDALE
BARONESS NOAKES |
| 3 | Page 3, leave out lines 28 to 33 |
| | BARONESS HOLLIS OF HEIGHAM
BARONESS DEAN OF THORNTON-LE-FYLDE
LORD OAKESHOTT OF SEAGROVE BAY |
| 4 | Page 6, line 22, at end insert— |
| "( ) | For the purposes of any review under subsection (1), the Secretary of State shall take into account the effect of the possible future payment of a basic state pension upon the basis of residency in the United Kingdom, using the relevant data stored under the provisions of section (Record keeping for future payment on residency basis)." |
| | LORD OAKESHOTT OF SEAGROVE BAY
BARONESS GREENGROSS
LORD FOWLER |
| 5* | Insert the following new Clause— |
| | "Independent Pensions Commissions |
| | The Secretary of State shall, no later than 1st January 2010, establish an Independent Pensions Commission which shall report to Parliament and Government every four years on— |
| (a) | the terms, benefits and affordability of public sector pensions, |
| (b) | the latest trends in private pension saving (and the impact of means-testing), and |
| (c) | the latest trends in life expectancy and average retirement ages." |
| | BARONESS HOLLIS OF HEIGHAM
BARONESS DEAN OF THORNTON-LE-FYLDE
LORD OAKESHOTT OF SEAGROVE BAY |
| 6 | 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 upon the Electoral Register or any additional or alternative database for the purpose of enabling the possible future payment of a basic state pension upon the basis of residency in the United Kingdom." |
| | LORD SKELMERSDALE
BARONESS NOAKES |
| 7 | 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." |
| | BARONESS HOLLIS OF HEIGHAM
LORD OAKESHOTT OF SEAGROVE BAY
BARONESS THOMAS OF WINCHESTER |
| 8 | Insert the following new Clause— |
| (1) | Section 5 (earnings limits) of the SSCBA 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."." |
| 9 | Page 38, line 40, at end insert— |
| | "19A In each of paragraphs 5A(3)(a), 6(4)(b) and 6A(2)(b) of that Schedule (calculation of increase to survivor's pension where member's guaranteed minimum pension deferred) omit the words "after it has been reduced by the amount of any increases under section 109 of the Pensions Act"." |
| 10 | Page 19, line 26, leave out from "conversion" to ", and" in line 27 |
| 11 | Page 19, line 32, at end insert— |
| "(9A) | If paragraph 5 of Schedule 5 to the SSCBA (increase of pension for survivor of "S") would apply to a person but for the fact that the scheme of which S was a member was subject to GMP conversion before S's death, the paragraph shall apply to the person (with any necessary modifications) despite that fact. |
| (9B) | In subsections (8)(c) and (d) and (9A) "GMP conversion" has the meaning given by section 24A of the Pension Schemes Act 1993 (c. 48) inserted by subsection (3) above." |
| | BARONESS NOAKES
LORD SKELMERSDALE |
| 12 | 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 the 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."." |
| | BARONESS NOAKES
LORD SKELMERSDALE |
| 13 | Page 66, line 23, leave out "non-executive" |
| 14 | Page 66, line 27, leave out "non-executive" |
| 15 | Page 66, line 35, leave out "non-executive" |
| 16 | Page 66, line 36, leave out "non-executive" |
| 17 | Page 67, line 2, after "interest" insert "of his or of a person connected with him" |
| 18 | Page 67, line 4, at end insert— |
| "( ) | Section 252 of the Companies Act 2006 (c. 46) (persons connected with a director) applies for determining whether a person is connected with another person for the purposes of sub-paragraph (6) as it applies for determining whether a person is connected with a director of a company." |
| | BARONESS NOAKES
LORD SKELMERSDALE
LORD McKENZIE OF LUTON |
| 19 | Page 67, line 29, leave out paragraph (d) and insert— |
| "(d) | is unfit for office by reason of misconduct," |
| 20 | Page 67, line 37, leave out sub-paragraphs (1) and (2) and insert— |
| (a) | pay to the chairman and other non-executive members such remuneration, and |
| (b) | pay to or in respect of the chairman and other non-executive members such sums by way of or in respect of allowances and gratuities, |
| | as the Secretary of State may determine." |
| | BARONESS NOAKES
LORD SKELMERSDALE |
| 21 | Page 67, line 42, leave out sub-paragraph (2) |
| | BARONESS NOAKES
LORD SKELMERSDALE
LORD McKENZIE OF LUTON |
| 22 | Page 68, line 11, leave out sub-paragraph (4) |
| 23 | Page 68, line 28, leave out sub-paragraph (3) and insert— |
| "(3) | During any vacancy in the office of chairman, or at any time when the chairman is absent or otherwise unable to act, any of his functions may be discharged by the deputy chairman. |
| ( ) | In discharging any function of the chairman under sub-paragraph (3), the deputy chairman must have regard to any guidance given by the chairman as to the discharge of that function by the deputy chairman." |
| | BARONESS NOAKES
LORD SKELMERSDALE
LORD McKENZIE OF LUTON |
| 24 | Page 69, line 26, leave out sub-paragraph (4) |
| 25 | Page 70, line 9, leave out "or a non-executive member" |
| 26 | Page 74, line 24, leave out paragraph (b) and insert— |
| "(b) | send a copy of the certified statement and of his report to the Secretary of State as soon as possible. |
| ( ) | The Secretary of State must lay a copy of the statement and report sent under sub-paragraph (5)(b) before Parliament." |
| | BARONESS GIBSON OF MARKET RASEN
BARONESS TURNER OF CAMDEN |
| 27* | Page 30, line 9, at end insert— |
| "( ) | In discharging its function under this section, the Authority shall ensure that its actions and advice support the objective of the scheme under subsection (2)(a) that all investments held for the purposes of the scheme are managed in accordance with what appears to the Authority to be industry best practice relating to the responsibilities of institutional shareholders and their agents in relation to shareholder activism, including any principles governing intervention in an investee company on account of its approach to corporate social responsibility." |
| 28* | Page 30, line 9, at end insert— |
| "( ) | In discharging its function with this section, the Authority shall ensure that its actions and advice support the objectives of the scheme under subsection (2)(a) that— |
| (a) | investment strategy (including policy on the exercise of the rights (including voting rights) attaching to investments) will be set in the best interests of members; |
| (b) | members will have appropriate levels of choice, including an opportunity to invest in one or more funds that have a stated policy under which defined social, environmental or ethical considerations are taken into account in the selection, retention and realisation of investments; |
| (c) | charges will be fair and reasonable; and |
| (c) | funds will be invested in the best interests of the members." |
| | BARONESS NOAKES
LORD SKELMERSDALE |
| 29 | Insert the following new Clause— |
| | "Publication by Secretary of State |
| (1) | The Secretary of State shall lay before each House of Parliament— |
| (a) | any relevant proposals about personal accounts within the meaning of section 33; |
| (b) | any guidance issued under subsection (6) of section 33. |
| (2) | The Secretary of State shall publish any matters laid before Parliament in accordance with subsection (1) in such manner as he considers appropriate." |
| 30 | Page 30, line 43, leave out from "State" to end of line 3 on page 31 |
| 31 | Page 31, line 4, leave out "or (b)" |
| 32 | Page 31, line 6, leave out "or divided" |
| | BARONESS NOAKES
LORD SKELMERSDALE |
| 33 | Insert the following new Clause— |
| | "Report to Parliament about costs of Personal Accounts Scheme |
| (1) | Before the end of the six months beginning with the day on which this Act is passed, the Secretary of State must prepare and lay before Parliament a report setting out his estimate of the public expenditure likely to be incurred on the Personal Accounts Scheme during the ten years beginning with the laying of the report. |
| (2) | Before the end of every six months beginning with the laying of a report under this section, the Secretary of State must prepare and lay before Parliament a further report setting out his estimate of the public expenditure likely to be incurred on the Personal Accounts Scheme during the ten years beginning with the end of those six months. |
| (3) | References in this section, in relation to any period of ten years, to the public expenditure likely to be incurred on the Personal Accounts Scheme are references to the expenditure likely to be incurred over that period by the Secretary of State, the Personal Accounts Delivery Authority and any successor body to the Personal Accounts Delivery Authority." |
| | LORD SKELMERSDALE
BARONESS NOAKES |
| 34* | Insert the following new Clause— |
| | "Annual reporting of public service occupational pension liabilities |
| (1) | The Secretary of State shall lay before each House of Parliament, within 30 days of the passing of this Bill, and by 31st March in each year thereafter, a report setting out— |
| (a) | the estimated total liabilities of unfunded public service occupational pension schemes as at the preceding 31st March, |
| (b) | changes to total unfunded occupational public service pension liabilities over the preceding 12 months, |
| (c) | contributions received, or treated as received, from employers and employees over the preceding 12 months, and |
| (d) | details of the discount rate and other assumptions used to estimate unfunded occupational public service pension liabilities. |
| (2) | The figures to be reported under subsection (1) shall be broken down by: |
| (b) | employer or government department." |
| 35* | Insert the following new Clause— |
| | "Occupational pensions—transparency for employees |
| (1) | Section 8 of the Employment Rights Act 1996 (c. 18) (itemised pay statement) is amended as follows. |
| (2) | After subsection (2)(b), insert— |
| "(ba) | cost to the employer of pension contributions made or treated as made in respect of the employee during the period covered by the pay statement,"." |
| 36* | Page 32, line 27, leave out "Part" and insert "Parts 2A and" |
| 37* | Page 76, line 42, at end insert— |
| |
Social Security Contributions and Benefits Act 1992 (c. 4) | In Schedule 5, in each of paragraphs 5A(3)(a), 6(4)(b) and 6A(2)(b), the words "after it has been reduced by the amount of any increases under section 109 of the Pensions Act"." |
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