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Amendments 30 and 31 result from changes made to Section 152 and Schedule 7 to the Pensions Act 2004, which deal with the duty of the board of the Pension Protection Fund to assume responsibility for a scheme on reconsideration and the pension compensation provisions. They simply update some cross-references to include new provisions that would be introduced by the Bill.

My noble friend Lord Freud has written in greater detail to noble Lords who have taken part in this House's consideration of the Bill and placed a copy of the letter in the Library. I hope that with the detail in that letter and with this concise verbal explanation, noble Lords will feel able to support these amendments. I beg to move.

Baroness Drake: My Lords, I thank the Minister for her explanation and I thank the noble Lord, Lord Freud, for his prior written communications with my noble friend Lord McKenzie. We are happy with the explanations and can see the logic of the amendments. As a past member of the founding board of the Pension Protection Fund I am deeply fond of that organisation, and anything that improves its efficient operations will always have my support.

Amendment 28 agreed.

Amendments 29 to 31

Moved by Baroness Garden of Frognal

29: Schedule 4, page 29, line 9, leave out from "section" to end of line 11

30: Schedule 4, page 29, line 11, at end insert-

" In the following provisions of the Pensions Act 2004 after "152(2)" insert "or (2B)"-

(a) section 154(2)(c) (requirement to wind up certain schemes), and

(b) section 172(4) and (5)(c) (fraud compensation regime)."

31: Schedule 4, page 31, line 37, at end insert-

"( ) In each of the following after "21" insert "or 21A"-

(a) paragraph 25(1) (early payment of compensation),

(b) paragraph 25(3) (as amended by paragraph 12 of Schedule 8 to the Pensions Act 2008),

(c) in paragraph 25B(4) (terminal illness lump sum) paragraph (b) of the definition of "relevant age", and

(d) paragraph 28(8)(c) (annual increase in periodic compensation)."

Amendments 29 to 31 agreed.

House adjourned at 9.32 pm.


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